US stock futures steady after S&P 500 hits record high thanks to Trump’s AI Investing.com
Investing.com – U.S. stock futures were flat on Wednesday night after the S&P 500 hit a record high, boosted by strong Netflix earnings and optimism over Donald Trump’s investment plans in artificial intelligence.
they were largely unchanged at 6,118.0 points, while they were down 0.1% at 21,970.50 points by 19:07 ET (00:00 GMT). they were also stable at 44,354.0 points.
S&P 500 hits record on Netflix gains, Trump AI boost
Shares of Netflix Inc (NASDAQ: ) rose nearly 10% on Wednesday after the company reported a record 19 million new subscribers in the fourth quarter of 2024, far beating Wall Street expectations.
Quarterly revenue rose to $9.5 billion, up 8% year-over-year, while net income was $915 million, reflecting growth of 12%.
Netflix also announced plans to raise prices for most subscription tiers in the US, Canada, Portugal and Argentina, citing increased investment in programming.
Artificial intelligence stocks were also higher after President Trump unveiled a $500 billion joint venture called Stargate, which includes OpenAI, Oracle Corporation (NYSE: ), SoftBank Group Corp . (TYO:), Microsoft Corporation (NASDAQ:), NVIDIA Corporation (NASDAQ:) , and other technology leaders.
The goal of the collaboration is to build large-scale AI data centers and power generation facilities in Texas over the next four years, significantly strengthening the nation’s AI capabilities.
Oracle shares rose nearly 7%, while Microsoft jumped 4.1% and Nvidia jumped 4.4%.
Hand Shares of Holdings ADR (NASDAQ: ) rose 16%, while shares of Amazon.com Inc (NASDAQ: ) rose 2%.
That led to a record high of 6,100.81 points, but the index pared some gains later in the day to close 0.6% higher at 6,086.28 points.
The index rose 1.3% to 20,009.34 points, while the index rose 0.3%.
Markets wary of Trump’s policies; more earnings per touch
On January 20, Trump was inaugurated as the 45th president of the United States, marking the beginning of a new administration that promised significant political changes.
Immediately after taking office, President Trump began issuing a series of executive orders that underscored his campaign promises.
Markets were cautious in anticipation of new tariffs under the Trump administration. Trump avoided imposing blanket tariffs on the first day.
On Wednesday, he said he would impose 10 percent tariffs on China and hit the European Union with tariffs.
For now, markets are focusing on corporate earnings and anticipating increased volatility with Trump’s policy announcements.
Quarterly earnings of Intuitive Surgical Inc (NASDAQ: ), and GE Aerospace (NYSE: ) were due Thursday. Results from American Airlines Group (NASDAQ: ) were also under attack.
