Nasdaq 100 climbs at the opening bell as Netflix’s stellar earnings and AI investments fuel tech stock momentum. Will the rally sustain?

Wall Street is coming off a strong session as investors deliberated the implications of President Donald Trump’s return to the White House.

The U.S. stock market closed higher Thursday, bringing the year-to-date gain of the SPDR S&P 500 ETF Trust SPY to 4%. The S&P 500 climbed 0.5% on Thursday to a record high, lifted by a broad rally that saw all its sectors rise while Big Tech stocks posted mixed results.

Microsoft stock currently trades at a price-to-earnings (P/E) ratio of 35.4, which is a 7.5% premium to its 10-year average of 32.9. It's also a premium to the tech-heavy Nasdaq-100 index, which includes Microsoft's big-tech peers and currently has a P/E ratio of 32.5.

Stocks are approaching records in the first couple of days of Trump's presidency, with more pronounced moves in specific corners of the market this week.

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After driving the S&P 500 to a high, Oracle and other AI stocks gave up some of Wednesday's gains from President Trump's Stargate project.

Among the tech names, Netflix jumped around 10% on the back of strong earnings and traded at $999 a share – just short of the $1000 psychological mark. It’s probably a matter of time before Netflix claims the $1000 level provided that the company’s recent gains were driven by the strategic move to stream live events and has potential to fuel organic growth.

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EconoTimes is a global, independent publication that delivers comprehensive news, analysis, and insights on the economy, finance, and markets. Based in Korea, we offer a unique perspective on global economic issues,

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