From Nasdaq:

The S&P 500 hit another record high as Netflix and ASML reported strong quarterly results, boosting chipmakers. Microsoft’s market value surpassed $3 trillion for the first time. Netflix jumped 12% following strong subscriber growth and confidence in its streaming services, and the S&P 500 communication services index rose 1.8%. Alphabet, Amazon, and Meta Platforms all added more than 1%.

The Philadelphia SE semiconductor index hit a record high, and Nvidia and Broadcom both jumped more than 4% to record highs. AT&T shed almost 3% after forecasting annual profit below expectations, while DuPont slumped 13% after forecasting a fourth-quarter loss. On the data front, a survey showed business activity picked up in January and inflation appeared to abate.

The S&P 500 rose 0.37% to 4,882.58 points, and the Nasdaq gained 0.68% to 15,530.39 points. Traders now see an 85.5% chance of a rate cut in May, compared to previously expecting a rate cut as early as March. Despite the rise in the S&P 500, declining stocks outperformed rising ones within the index at a 1.5-to-one ratio. S&P 500 components can be found at the link below.



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