# Dow Hits 50k, Amazon Tax Drop, Netflix DOJ Probe

**Podcast:** WSJ What’s News
**Published:** 2026-02-06

## Transcript

The Dow soars and crosses over fifty thousand for the first time.
Plus, why Japan's first female Prime Minister is betting her seat on a snap election.
I think she'd be even happier if she could get a big majority for her ruling party alone, which some of the polls suggest that she could.
Success of the tech sector.
Despite some fits and starts here and there, the line has basically gone up and to the right.
There's been basically a continuous rally into US stocks over the last 10 to 15 years, in part because of this tech boom that we've had out of Silicon Valley, which has really accelerated in recent years with the growth of AI.
So now we're hitting 50,000.
And what that says is that America and the American economy has basically created this giant sucking sound of investment flowing in to US based companies, particularly tech stocks.
But David says that the Dow in particular is bigger than tech.
So when investors are sort of evaluating the stock indexes as economic indicators, not just market snapshots, many of them choose to look at the Dow as a source of evidence of how the general economy is doing.
The makers and takers of goods, logistics firms, airlines, manufacturers, media properties, et cetera, how they are all doing vis-a-vis some of these tech names, which tend to drive the NASDAQ and SP in a more volatile way.
The Dow doesn't capture the full weight of the AI boom in some respects, but on the other hand, it might be a more accurate representation of what is actually happening in the US economy.
WSJ Markets reporter Jack Pitcher says the relief rally today after this week's tech sell-off helped lift the Dow, which closed up two and a half percent at 50,116.
We actually had a pretty volatile week.
There is a big tech sell-off, especially software-related companies.
The Dow has less software exposure.
It fared better and has been hanging out just below record high for quite a while.
And then today we've had a relief rally across markets.
We're seeing tech come back a little bit, including NVIDIA.
NVIDIA is now a component of the Dow that's been helping drive things higher.
So are industrial stalwarts like Caterpillar and 3M.
There were big gains in the other indexes today, too.
The Nasdaq climbed 2.2%, while the SP ended up 2%.
One piece of news that might be making investors feel optimistic.
The closely watched consumer sentiment index from the University of Michigan climbed for February, though economists had expected a slight decline.
The survey's director said the public still remains anxious about inflation and a weaker labor market.
Speaking of jobs, whether you're hiring, firing, looking for a promotion or a new job, we'd love to hear your thoughts and questions about the labor market.
Email us a voice memo to WNPOD at WSJ.com or leave us a message at 212-416-4328.
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According to a securities filing released today, Amazon's U.S.
corporate income taxes fell to 1.2 billion dollars last year from $9 billion in 2024, even as its domestic profit before taxes rose by more than 44% to 89.5 billion dollars.
It's one of the clearest examples yet of how big American companies are benefiting from Republicans' new tax law.
Amazon says that Congress made the law to encourage greater investment in the U.S.
economy, and that due to Amazon's quote, unprecedented U.S.
investments, our tax bill this year reflects those changes.
We're exclusively reporting that the Justice Department's investigation into Netflix's $72 billion Warner deal is casting a wide net on Netflix business practices.
The department is asking if Netflix has acted in a way that could make it a monopoly.
The journal viewed a civil subpoena that the DOJ sent another entertainment company.
A lawyer for Netflix says the company thinks the Justice Department is conducting a standard deal review.
The Justice Department is also reviewing Paramount's bid, which Warner has told its shareholders to reject.
Paramount says its offer provides investors with greater value and a more certain path to completion than the Netflix deal.
The DOJ declined to comment.
It was mostly about voting machines in the 2020 election.
In the video's final seconds, images of the Obama's faces on the bodies of cartoon apes appear.
They bob their heads against the backdrop of a jungle as the song The Lion Sleeps Tonight plays.
The imagery plays into longstanding racist tropes dehumanizing black people.
Lawmakers from both parties condemned the video and said Trump should remove it.
The video was deleted late this morning after the White House initially defended it.
The White House blamed a staffer for posting the video.
An Obama spokeswoman didn't immediately comment.
Coming up, what Japan's Prime Minister hopes to gain from Sunday's snap election and a change to the personal finances of U.S.
Olympic athletes.
That's after the break.
Japanese Prime Minister Sanai Takayichi has only been in the job since October, but she's already betting her seat on a snap election that's to take place on Sunday.
I'm joined now by Jason Douglas, who heads up the journal's Tokyo Bureau.
Jason, what is Takeichi's background and how did she get to the Prime Minister spot?
Takeichi is a little unusual in Japanese politics.
The uh political scene in Japan is very much dominated by men and by people from famous political families.
So Takeichi is a bit of an outsider.
She came from humble beginnings.
Her father was a factory worker, her mom worked as an administrator for the police.
And she's been slogging away on the fringes really of conservative politics in Japan for the last 30 years.
And then in October last year, she had her chance to run for leader of the ruling party.
She won.
And now she is the prime minister.
Why does she call this SNAP election?
What is she hoping to get out of it?
Her ruling coalition doesn't have a majority in the lower house of parliament.
She wanted to strengthen her position to make sure that she could push through her agenda.
The goal is to get a big majority for the coalition.
I think she'd be even happier if she could get a big majority for her ruling party alone, which some of the polls suggest that she could.
The opposition is somewhat fragmented, somewhat divided.
All the polls are pointing to a landslide for her.
I'm curious how much of this is a reflection of how she's been performing as PM.
Part of her platform has been to revitalize Japan's economy.
How has she been doing on that and how's that going over in the country?
The prospect of a landslide is almost entirely to do with Takeichi's personal popularity.
She's only been in power for three months, so she hasn't really had an opportunity to do very much.
But she has this persona that is really resonating with the public.
She's decisive.
She got on terrifically well with President Trump when he was here in October last year.
Um she's in the middle of this kind of diplomatic rye with Beijing, and her standing up to the Chinese to leader Xi Jinping is playing pretty well with Japanese voters.
She's very plain speaking.
She makes these videos where she's playing the drums with the South Korean president.
She's really good at social media.
She does seem to have really struck a chord with young voters who are just a bit fed up with inflation, a bit fed up with falling living standards in Japan.
You mentioned Takaichi's relationship with Trump.
One of the things Takeichi has done is double down on Japan's ties with the US.
What does the outcome of this election mean for US interests and stability in the region?
Yeah, this is super important.
Lots of countries are kind of pulling away somewhat from the US.
They're recoiling from President Trump and his, you know, moves on tariffs, his talk about Greenland.
This is particularly true in Europe, but in Asia, I think the picture looks very different.
And for a country like Japan, which is surrounded by China, Russia, and North Korea, there's really no alternative to the US alliance.
It's absolutely essential for their security.
And so Takeichi feels this very strongly and is doubling down on it.
And I think she is totally in line with US interests and what Trump and his administration want allies to do in Asia.
So she's talked about raising defense spending, talked about taking on a greater role in preserving security in the region and deterring China.
She's doing all the things that the US wants Japan to do.
But one thing she has to watch out for is financial markets.
So we've seen these big moves, big swings in interest rates and big swings in the currency.
There's some anxiety in financial markets about her economic plans because she is a big believer in fiscal spending.
She wants to borrow and spend to really drag Japan out of its economic torpor that it's been in for the last 30 odd years, and that makes some people in financial markets nervous.
That was WSJ Tokyo Bureau Chief, Jason Douglas.
Thanks so much, Jason.
Thank you very much.
Talks in Oman today between senior US and Iranian officials made little progress.
A core US requirement.
But Iran's foreign minister said it had been a good start.
Both sides signaled that they would keep working toward a diplomatic solution that could head off an American strike.
And finally, the winter Olympics kicked off today in Milan, and we're taking a look at the personal finances of Olympians.
The U.S.
government, unlike some other countries, doesn't pay its Olympic athletes.
So, starting at this year's winter games, financier Ross Stevens will give $200,000 to each U.S.
athlete who competes in the Olympics and Paralympics.
But they won't get that money right away.
Half of it will come 20 years after their first qualifying Olympic appearance or at age 45, whichever comes later.
The second half of the payment is a benefit for the athletes' family after they pass away.
Gold medalist sprinter Lauren Williams became a financial planner after retiring from competition and has worked with dozens of team USA athletes.
She says this money could be life-changing.
This is a huge deal that will change a trajectory of athletes' finances.
If only this had existed when I was participating in sport.
So many athletes work a full-time job while competing and then continue to work full-time after competing, even if they win a medal.
And for the vast majority of Olympic athletes, that is not true.
And so for $100,000 to be coming your way is gonna be a big, big difference for athletes over the long term.
If you want to hear more from Lauren, our colleagues at Your Money Briefing spoke to her in 2024 about Olympic athletes' financial hurdles.
We'll leave a link to that episode in the show notes.
And that's what's news for this week.
Tomorrow you can look out for our weekly markets wrap-up, What's News in Markets.
Then on Sunday, it's the Super Bowl.
And like a lot of people, I will be watching it for the ads.
And in our show, we'll be discussing how AI is transforming the advertising industry.
That's in What's New Sunday.
And we'll be back with our regular show on Monday morning.
Today's show is produced by Pierre Bienname and Alexis Moore with Supervising Producer Tulli Arbell.
Michael Laval wrote our theme music.
Jessica Fenton is our technical manager.