Wall Street Stocks Surge on Strong Corporate Profits

Stocks on Wall Street continued their upward trend Wednesday, with the S&P 500 and Dow Jones Industrial Average setting new records. The Nasdaq composite also rose, but at a slower pace.

The market's gains were driven by strong corporate profits, with many companies exceeding expectations. This week has been particularly strong, with three-quarters of the S&P 500 companies already reporting results showing a 50% profit growth. Disney led the way after beating Wall Street's forecasts, thanks in part to its recent blockbuster film 'Toy Story 5' and theme park revenue.

Booking Holdings also reported robust travel demand driving profit and revenue growth during its most recent quarter. In contrast, SpaceX fell despite reporting a smaller loss than expected, but it did help boost Nvidia's shares by 3.7% after announcing an exclusive partnership for its artificial intelligence technology.

The price of Brent crude oil held steady at $78.81 a barrel, while Treasury yields remained relatively unchanged in the bond market. Markets in Asia also rose, with benchmarks jumping more than 3% in Tokyo and Seoul as computer chipmakers and other AI-related companies climbed.