Dow Hits Record Highs Amid Earnings Frenzy
The US stock market saw a mixed performance on Wednesday, with the S&P 500 and Nasdaq ending lower while the Dow Jones Industrial Average gained. The S&P 500 fell 0.2%, the Nasdaq 100 dropped 0.8%, and the Dow Jones rose 0.5%. Nvidia's stock surged after Elon Musk announced that SpaceX would exclusively use NVDA chips for its AI infrastructure.
The Strait of Hormuz shipping route agreement between Iran and Oman has also contributed to a sense of relief among investors, easing concerns over global energy supply lines. Corporate earnings remain the main focus, with Wall Street anticipating another busy day on Thursday as companies such as Warner Bros. Discovery, Airbnb, and Lyft report their quarterly results.
In other news, Alphabet (GOOGL) is in talks for a multibillion-dollar deal with coding startup Mechanize, while Meta Platforms Inc. (META) has launched its AI coding agent Muse Code to automate complex software development tasks.