From Nasdaq:

The S&P 500 hit a fourth consecutive record high close, with Netflix surging following strong quarterly results and a robust report from ASML boosting chipmakers. Microsoft reached an all-time high, propelling its market value above $3 trillion for the first time.

Netflix jumped 10.7% to a two-year high after robust subscriber growth, affirming investor confidence in its streaming dominance. The S&P 500 communication services index, including Netflix, surged 1.2% to a two-year high.

The Nasdaq reached its highest level since January 2022 and is now less than 4% below its record high close from November 2021. Alphabet and Meta Platforms, part of the “Magnificent Seven,” each gained over 1%.

The S&P 500 climbed 0.08% to close at 4,868.55 points, even as declining stocks outnumbered rising ones. The Nasdaq gained 0.36% to 15,481.92 points, while the Dow Jones fell 0.26% to 37,806.39 points.

Tesla dipped 0.6% and weighed on the S&P 500, while the Philadelphia SE semiconductor index rose 1.54% to a record high. Nvidia and Broadcom both jumped over 2% and hit record highs.

AT&T dropped 3% after forecasting annual profit below expectations, while DuPont De Nemours slumped 14% after forecasting a fourth-quarter loss. A survey showed business activity picked up in January, suggesting a strong start to 2024 for the U.S. economy.

Investors now see an 85.5% chance of a rate cut in May, according to CME Group’s FedWatch Tool, after initially expecting a rate cut as early as March.



Read more: S&P 500 ekes out another record high as Netflix and chipmakers leap