S&P 500 hits record high with boost from Netflix results, AI investment plan
By Sinéad Carew and Johann M Cherian
Thu January 22, 2025 6:38 PM
Elon Musk aside who says it cannot happen, Trump’s announcement of a $300B investment in AI shot the whole tech index straight up again, the chip index especially up 1.7%. The Dow also rode on these coattails, though not as much as in previous sessions as stated by today’s expert, “It’s a story of big tech and everything else is hanging in there.” But the euphoria continues, triggered Monday by the news that the new administration’s tariff policies would likely be far less draconian than feared, even if there is still considerable concern about what may be coming February 1st.
But the S&P had its best hike, barely grazing its new record high from December 6th. The index got its big boost from Netflix’s record setting performance gaining 9.7% after reporting record subscribers, though as a Netflix subscriber myself, I’m don’t quite get the rationale behind how doing really well leads to a price increase. Econ 101: the better a company does, the lower the prices in order to grow market share even more. So I don’t get it, but it’s always a good sign when risk appetites are increasing. At 13.9 billion, volume is now considerably below 15.3 billion average.
DJ: 44,025.81 +537.98 NAS: 19,756.78
+126.58 S&P: 6,049.24
+52.58 1/21
DJ: 44,156.73 +130.92 NAS: 20,009.34
+252.56 S&P: 6,086.37
+37.13 1/22
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