Tech Surge: AI Investments Propel Wall Street to New Heights

Wall Street's indexes climbed on Wednesday, with the S&P 500 reaching record highs. Investors celebrated Netflix's subscriber boost and Trump's $500 billion AI investment plan. The technology sector led gains, powered by Nvidia and Microsoft. Concerns remain over tariff impacts on inflation and trade plans.

Wall Street indexes soared on Wednesday, as the S&P 500 hit an intraday record high. The surge was driven by strong performances from Netflix and a new $500 billion AI investment plan announced by President Donald Trump. The technology sector led gains, with Nvidia and Microsoft as standout performers.

Netflix emerged as the S&P's top performer, ending up 9.7% after announcing substantial subscriber growth, leading to service plan price increases. Investors placed significant faith in AI advancements, despite uncertainties regarding the investment plan's funding, bolstered by Trump's new technology initiative.

However, concerns loom over potential inflation impacts, fueled by Trump's proposed tariffs on imports from multiple countries. Investors watch closely for developments as federal agencies prepare comprehensive trade reviews. Meanwhile, notable stock moves included Procter & Gamble's rise and Textron's drop after downgraded profit forecasts.

(With inputs from agencies.)