Wall Street Stocks Surge Amid Strong Corporate Profits
Stocks on Wall Street rose in morning trading on Wednesday and added to their records set a day earlier, while oil prices held steady.
The S&P 500 climbed 0.4%, while the Dow Jones Industrial Average jumped 584 points, or 1.1%, as of 10:45 a.m. Eastern time. The Nasdaq composite rose 0.1%.
Wednesday's gains continued a strong start to August for major indices, with the S&P 500 and Dow both setting records on Tuesday. The Walt Disney Co. led the charge after easily beating Wall Street's profit forecasts, driven by a $1 billion box office haul from 'Toy Story 5' and theme park revenue.
Booking Holdings also rose 6.6% after reporting strong travel demand drove profit and revenue growth during its most recent quarter. However, SpaceX fell 8.8%, despite reporting a smaller loss than Wall Street expected in its first quarterly report as a public company.