Meanwhile, Nasdaq 100 futures ( NQ=F) fell 0.5% as tech stocks struggled to regain the momentum that propelled the previous day's gains. Nvidia ( NVDA) shares tipped lower in pre-market, as fellow megacap techs Apple ( AAPL) and Google parent Alphabet ( GOOG, GOOGL) also lost ground.
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Wall Street's indexes rose on Wednesday, with the benchmark S&P 500 hitting an intraday record high as investors cheered streaming video provider Netflix's quarterly report and President Donald Trump's private-sector artificial intelligence infrastructure investment plan.
The S&P 500 climbed to 6,100 for the first time during Wednesday's session. Traders cheered strong earnings and an AI initiative Trump announced on Tuesday.
A rally in big tech fueled by optimism over artificial intelligence and a batch of earnings from corporate heavyweights sent stocks to the brink of their all-time highs.
The S&P 500 is on track for its first record close since Dec. 6. Traders should beware of chasing the move, said Jonathan Krinsky, chief market technician at BTIG, in a Wednesday morning client note.
Of the S&P 500 companies that have reported earnings so far, 79% have beat estimates, according to FactSet data.
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The S&P 500 has clinched another record high as the rally in U.S. equities shows no signs of stopping following excellent earnings. The broadest market gauge hit a new intraday trading high at 6,100,
US stocks closed strong after Trump took office on Monday and seemed to soften his stance on tariffs. Dow and S&P 500 ended at highest since Dec.
Wall Street's main indexes rose on Wednesday, with the benchmark S&P 500 hitting an all-time high, as investors cheered streaming giant Netflix's strong quarterly performance and President Donald Trump's multi-billion dollar support to bolster AI infrastructure.