Global Markets Surge Amid New Policies and Robust Earnings

Global stocks rose as new policies from U.S. President Trump and strong corporate earnings fueled investor optimism. Netflix surged after record subscriber growth. Trump announced a $500 billion AI venture with OpenAI, SoftBank, and Oracle. Tariff uncertainty persisted, impacting markets and currency movements.

Global stocks saw an upswing on Wednesday, spurred by U.S. President Donald Trump's new policy announcements and better-than-expected corporate earnings, which bolstered investor confidence. However, ongoing tariff uncertainties kept the U.S. dollar close to a two-week low.

Netflix shares experienced a significant boost, surging nearly 15% in pre-market trading following the streaming giant's unprecedented subscriber growth in the previous quarter. This growth allowed Netflix to raise service plan prices in several countries. Additionally, Trump revealed late Tuesday a joint venture involving OpenAI, SoftBank, and Oracle, collectively planning to invest up to $500 billion in artificial intelligence infrastructure. This news saw SoftBank shares jumping 11% in Tokyo and Oracle shares rising more than 8% in pre-market trading.

Despite potential U.S. import tariffs lingering in the background, there was relief among investors as Trump's initial focus seemed domestic. European markets displayed resilience, with the pan-continental STOXX 600 index climbing 0.7% to reach a record intraday high. Conversely, the U.S. 10-year Treasury yield remained steady, reflecting a robust economy with limited expectations for major Federal Reserve rate cuts this year.

(With inputs from agencies.)