The Globe and Mail reports in its Thursday edition that Wall Street's indexes rose on Wednesday, with the benchmark S&P 500 hitting an intraday record high as investors cheered Netflix's quarterly report and U.S. President Donald Trump's private-sector AI infrastructure investment plan. A Reuters dispatch to The Globe says the Toronto Stock Exchange rose more modestly. The tech sector advanced 2.5 per cent and was the biggest gainer among the S&P 500's 11 industry indexes with its biggest boosts from AI heavyweights Nvidia and Microsoft. Netflix, the S&P's biggest gainer, finished up 9.7 per cent after reporting a record number of subscribers for the holiday quarter, enabling it to increase prices for most service plans. Investors piled bets into the promise of AI the day after Mr. Trump announced a $500-billion (U.S.) private-sector AI infrastructure investment plan from a venture, even though there was no clarity on funding. The S&P/TSX Composite Index ended up 29.87 points at 25,311.50, its highest closing level since Dec. 12 and its seventh straight day of gains. That was the longest daily winning streak since August. The TSX industrials sector rose 1.3 per cent, helped by gains for railway shares.
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