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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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.
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 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%.
Netflix, Oracle and other tech stocks lifted U.S. indexes as their profits pile higher and excitement builds around AI's moneymaking prospects.
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.
"I'll demand that interest rates drop immediately and likewise they should be dropping all over the world," Trump said to business leaders from around the world. The yield on the 10-year U.S. Treasury note retreated from its intraday high of 4.664% following Trump's comments but closed at 4.648%, up from 4.599% on Wednesday.