On Wednesday, U.S. stocks demonstrated a robust performance, particularly led by those in the technology sector, buoyed by encouraging earnings announcements and corporate developments.
All major stock averages are exhibiting gains, with the Nasdaq advancing approximately 265 points, equivalent to a 1.35% increase, reaching 20,021.78. The Dow Jones Industrial Average has risen by 112.47 points or 0.26%, settling at 44,138.28, while the S&P 500 has climbed 41.87 points or 0.69%, standing at 6,091.11.
Shares of Netflix Inc. surged by over 12% following the revelation of the company's addition of 19 million subscribers in the fourth quarter, marking its largest-ever subscriber increase in a single quarter. Netflix's profit for the fourth quarter was reported at $1.869 billion, or $4.27 per share, compared to $938 million, or $2.11 per share, in the previous year.
Oracle Corporation continued its upward trend from the prior session, gaining nearly 8%. NVIDIA recorded an increase of approximately 4.7%, while Microsoft Corporation advanced by nearly 4%. Other companies such as Amazon, Meta Platforms, Eli Lilly, Procter & Gamble, Salesforce, American Express, and Analog Devices also saw gains, ranging from 1% to 3%.
Conversely, Pfizer, Johnson & Johnson, Bank of America, Exxon Mobil Corporation, Berkshire Hathaway, and Tesla were among the noteworthy decliners.
In international markets, Asian stocks had a mixed finish on Wednesday. Chinese and Hong Kong markets experienced significant declines after U.S. President Donald Trump threatened to impose tariffs on the EU and China, aiming to address trade imbalances and combat fentanyl trafficking.
In Europe, stock markets concluded the day with broad gains, with several regional markets reaching record highs. These increases were driven by positive earnings updates and optimism regarding potential interest rate cuts by the Federal Reserve and other central banks, including the European Central Bank, throughout the year.
