US Stocks and Oil Prices Climb Amid Corporate Earnings Strength
US stock futures and oil prices continued their upward trend on Wednesday, despite ongoing concerns about the direction of the US war with Iran. The S&P 500 index rose by 0.5%, while the Dow Jones Industrial Average added 487 points, or 0.9%.
The strong corporate profits reported by companies such as Disney and Booking Holdings contributed to the market's surge. Disney's stock price jumped 3.2% after beating Wall Street's profit forecasts, thanks in part to a $1 billion box office haul from 'Toy Story 5'.
Despite SpaceX's disappointing quarterly report, which saw its stock fall by 10.7%, Nvidia's shares rose by 3.9% due to the company's announcement that it would exclusively use Nvidia's computer chips for its artificial intelligence technology.