(CNBC) — Stocks climbed for a second day on Wednesday to record levels as President Joe Biden was sworn into office, while a slew of strong corporate earnings boosted sentiment on Wall Street.
The Dow Jones Industrial Average jumped 300 points to a fresh high. The S&P 500 advanced 1.5% to an intraday all-time high, led by communication services sector. The tech-heavy Nasdaq Composite jumped 2.1% to a record amid a pop in Netflix shares.
Netflix soared more than 16% after the company reported strong subscriber growth and said it’s considering share buybacks. Netflix handily beat estimates for global paid net subscriber additions, reporting 8.5 million versus the 6.47 million analysts anticipated. The company also said it expects to break even on a cash flow basis this year.
