Sherry Paul, Morgan Stanley private wealth advisors and senior portfolio manager, joins CNBC's 'Closing Bell' to discuss market outlooks.
Netflix shot up 14.6% after it reported adding nearly 19 million subscribers during the holiday-season quarter and it topped sales and profit targets. The video streaming service’s expansion into live programming appears to be paying off as it wrapped up its best year ever with more than $40 billion in revenue.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) jumped roughly 2% after new economic data showed easing inflation, a relief to investors that also led to a decline in Treasury yields. The Dow Jones Industrial Average (DJINDICES: ^DJI) jumped over 600 points.
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Global stocks eased on Thursday, halting a rally sparked by U.S. President Donald Trump's mammoth spending plans for artificial intelligence infrastructure as some of that excitement fizzled out, though Chinese shares fared better on Beijing's support.
NVIDIA Corporation NVDA has been around for decades. However, with the advent of artificial intelligence (AI), the company has witnessed explosive business growth. In the past year, NVDA stock has surged 149%, becoming one of the top S&P 500 performers of 2024.
The company's share price was up 11% as of 11 a.m. ET and had been up as much as 14.9% earlier in the daily session. Meanwhile, the S&P 500 index was up 1.6% and the Nasdaq Composite index was up 2.1%.
All told, the S&P 500 rose 37.13 points, the Dow Jones Industrial Average gained 130.92 and the Nasdaq composite jumped 252.56.
Netflix, Oracle and other technology stocks are lifting U.S. indexes as their profits pile higher and excitement builds around the moneymaking prospects of artificial intelligence. The S&P 500 rose 0.
Trump's sweeping policy changes, cooling US Core CPI inflation data for December, a resilient economy, and a strong earnings season played a key role in the S&P500's rapid climb.
The benchmark S&P 500 rose to a record closing high on Thursday, as investors assessed a mixed bag of corporate earnings and digested comments from President Donald Trump, including a call for cuts in interest rates and oil prices.