Wall Street’s major indices advanced on Wednesday, as investors celebrated President Donald Trump’s multibillion-dollar initiative to enhance artificial intelligence (AI) infrastructure and strong quarterly results from Netflix. The S&P 500 gained 0.90%, surpassing 6 100 for the first time, while the Nasdaq 100 rose 1.70%, and the Dow added a modest 170 points. Netflix shares soared 12% following a record surge in new subscribers.

In South Africa, the stock market ended lower for the first time this week as December's inflation rate edged up to 3% from 2.90% in November, still below the 3.20% forecast and the South African Reserve Bank's midpoint target of 4.50%. The rand experienced volatility, trading at R18.52/$ by 18h00 local time.

The Hang Seng index fell 1.60% to close at 19 779, breaking a six-day winning streak and retreating from a one-month high amid sector-wide losses. Sentiment weakened after President Trump indicated plans to impose a 10% tariff on Chinese imports by February. The tech sector dropped 2.60%, even as Trump announced private sector investments of up to $500 billion to accelerate AI advancements. Meanwhile, the Nikkei rose 1.58% to 39 646, marking its highest level in nearly two weeks, buoyed by Wall Street’s overnight gains. Optimism was tempered by concerns over a potential rate hike from the Bank of Japan, ahead of its policy decision later this week.

In Europe, markets continued their upward momentum, supported by robust corporate earnings. The Eurozone’s STOXX 50 climbed 0.80% to 5 206, a level last seen in 2 000, while the STOXX 600 edged up 0.40%, extending its record to 528 points. Investors remained watchful of the European Central Bank’s borrowing cost outlook and the potential effects of US trade barriers on European businesses.

Brent crude oil prices slid to approximately $79 per barrel, marking a fourth consecutive decline, as trade war fears intensified following Trump’s statement on possibly imposing a 10% tariff on China. Concerns grew after he suggested similar levies on Canada and Mexico. The market also weighed the implications of Trump’s energy policies, including declaring a national energy emergency to boost oil production and roll back clean energy measures.