Wall Street closed higher, with the S&P 500 index scoring an all-time high. Blowout Netflix results and plans for $500b AI investment fuel gains.

President Donald Trump's boost to AI demand hopes is outweighing fresh tariff threats on China and the EU, as earnings season rolls on.

Wall Street's indexes rose on Wednesday, with the benchmark S&P 500 hitting an intraday record high as investors cheered streaming video provider Netflix's quarterly report and President Donald Trump's private-sector artificial intelligence infrastructure investment plan.

Once you've wrapped up this week's ICYMI, check out our picks for the 7 new movies and TV shows to stream this weekend (January 24).

Trump vowed to hit the "very, very bad" European Union with tariffs and said his administration was also discussing a 10% punitive duty on Chinese imports - blaming the trafficking of fentanyl from China to the U.S. via Mexico and Canada.

All told, the S&P 500 rose 37.13 points, the Dow Jones Industrial Average gained 130.92 and the Nasdaq composite jumped 252.56.

The criticism directed at The Brutalist has also shone a light on Netflix's own Oscars hopeful, Emilia Pérez, a musical directed by Jacques Audiard about a cartel boss looking to retire and transition into living as a woman. In the movie, Karla Sofìa Gascón's singing voice was enhanced using AI.

Tech shares led US stocks higher Wednesday following strong earnings from Netflix and a White House announcement that reignited enthusiasm about artificial intelligence.

Japan's Nikkei Stock Average rose 0.8% to close at 39958.87 amid risk-on sentiment. "Equities worldwide continued to ride on the wave of U.S.' AI investment announcement, as well as blowout earnings from streaming giant Netflix,

Wall Street's main indexes rose on Wednesday, with the benchmark S&P 500 hitting a record high, as investors cheered streaming video provider Netflix's quarterly report and technology shares rallied after the announcement of a private-sector artificial intelligence infrastructure plan.

Another possible player has emerged in the race to create a reliable AI video generator. Researchers, including two from Netflix, were involved in the development of Go-with-the-Flow, a new model that aims to provide an easy way to control motion patterns in video diffusion models.