Main U.S. indexes green; Nasdaq out front, up >1%
Tech leads S&P sector gainers; Real Estate weakest group
Euro STOXX 600 index up ~0.5%
Dollar ~flat; gold gains; crude dips; bitcoin down >2.5%
U.S. 10-Year Treasury yield edges up to ~4.58%
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S&P 500 REACHING FOR THE STARS
Wall Street's main indexes are higher early on Wednesday, with the tech-heavy Nasdaq leading gains, as investors cheer streaming giant Netflix's NFLX.O strong quarterly performance and President Donald Trump's multi-billion dollar support to bolster AI infrastructure.
U.S. President Donald Trump announced a private sector investment of up to $500 billion to fund infrastructure for artificial intelligence. The joint venture, called Stargate, plans to help the United States stay ahead of China and other rivals in the global AI race.
On the back of Trump's announcement and Netflix's more than 10% rise, tech .SPLRCT and communication services .SPLRCL are posting the biggest gains among S&P 500 .SPX sectors.
The FANG index .NYFANG, which includes NFLX, is popping more than 2%. Chip stocks .SOX are also rallying more than 2%.
Banks .SPXBK, .KRX are on the losing side.
Meanwhile, at around 6,082, the SPX is reaching for its record highs. The benchmark index is now down less than 0.14% from its 6,090.27 December 6 record closing high and down less than 0.3% from its 6,099.97 December 6 record intraday high.
Here is a snapshot of where markets stood around 15 minutes into the trading day:
(Terence Gabriel)
*****
FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:
PLAYING FTSE WITH THE DOW - CLICK HERE
DECIPHERING THE BOND MARKET'S UNUSUAL SELLOFF - CLICK HERE
WHY ITALIAN SMIDS WILL OUTPERFORM IN 2025 - CLICK HERE
TRUMP'S AI PLEDGE OUTWEIGHS TARIFF FEARS; STOXX AT RECORD - CLICK HERE
EUROPE BEFORE THE BELL: FUTURES UP AS TRADERS DIGEST TRUMP COMMENTS - CLICK HERE
THEY DO KNOW STARGATE IS SCI-FI, RIGHT? - CLICK HERE
earlytrade01222025 https://tmsnrt.rs/40KyWKV
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)
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