Dow Hits New High Amid Mixed Market

The US stock market saw mixed results on Wednesday, with the Dow Jones Industrial Average closing up 0.49% and setting a new all-time high, while the S&P 500 Index fell 0.17% from its record high.

The Nasdaq 100 Index, however, closed down 0.83%, led by Advanced Micro Devices (AMD), which dropped over 7% after underwhelming investors with its third-quarter sales forecast.

Meanwhile, SpaceX closed down more than 13% following the company's projection of higher-than-expected spending on its artificial intelligence business.

Some positive corporate earnings results did support stocks, including Booking Holdings (BKNG), which rose over 6% after reporting better-than-expected Q2 gross bookings, and Amgen (AMGN), which closed up more than 3% after stronger-than-expected Q2 EPS.