CommSec Market Update

Morning Report 23 Jan 25: S&P 500 hits record high as AI powers tech rally


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US stocks are surging to record highs, fuelled by strong performance in technology and AI-driven sectors. Netflix shares have also soared to new record highs following its largest quarterly subscriber gain in history, while Salesforce is gaining momentum on an encouraging outlook. Elsewhere, Johnson & Johnson has cautioned investors about the risks posed by a strong US dollar, and Procter & Gamble has paused price hikes on its goods. Meanwhile, oil prices have declined for a fifth consecutive day, and tariff uncertainties are weighing on metal markets. In contrast, safe-haven gold is nearing all-time highs as investors seek stability. Looking ahead, Aussie shares are expected to retreat from six-week highs, with trading updates from Fortescue and Santos in focus.

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