US: S&P 500 hits record high on Netflix, chip stocks boost

THE S&P 500 scaled a fresh record high at open on Wednesday (Jan 24), after Netflix surged on smashing expectations for subscriber growth, while ASML’s strong earnings helped drive gains in chip stocks.

The benchmark index hit an intraday record high for the third time in less than a week, fueling a bull-market run it confirmed on Friday after closing at an all-time high.

The Dow Jones Industrial Average rose 69.92 points, or 0.18 per cent, at the open to 37,975.37.

The S&P 500 opened higher by 23.96 points, or 0.49 per cent, at 4,888.56, while the Nasdaq Composite gained 134.67 points, or 0.87 per cent, to 15,560.61 at the opening bell. REUTERS