U.S. stock markets saw a boost on Wednesday as technology companies like Netflix and Oracle experienced significant profit increases, coinciding with growing enthusiasm for the financial potential of artificial intelligence. The S&P 500 Index pushed upward by 0.6%, edging close to its historic high established in early December. Meanwhile, the Dow Jones Industrial Average gained 0.3%, and the Nasdaq composite rose by 1.3%. These advances occurred despite most U.S. stocks declining due to surging Treasury yields in the bond market. Netflix particularly stood out, surpassing analysts’ profit forecasts for the recent quarter, which contributed to the overall market positivity.
On Wednesday, the market numbers reflected the upward trends:
The S&P 500 increased by 37.13 points, or 0.6%, closing at 6,086.37.
The Dow Jones Industrial Average added 130.92 points, or 0.3%, ending at 44,156.73.
The Nasdaq composite surged by 252.56 points, or 1.3%, reaching 20,009.34.
However, the Russell 2000 index, which tracks smaller companies, experienced a decline, falling by 14.25 points, or 0.6%, to close at 2,303.72.
Looking at the week’s performance:
The S&P 500 recorded a rise of 89.71 points, equating to 1.5%.
The Dow Jones saw an increase of 668.90 points, also around 1.5%.
The Nasdaq grew by 379.14 points, marking a 1.9% increase.
The Russell 2000 managed a slight increase of 27.84 points, or 1.2%.
Evaluating the yearly performance to date:
The S&P 500 has climbed by 204.74 points, representing a 3.5% increase.
The Dow Jones has risen by 1,612.51 points, translating to a 3.8% gain.
The Nasdaq has shown an increase of 698.55 points, or 3.6%.
Finally, the Russell 2000 has increased by 73.56 points, which is a gain of 3.3%.