Stocks
US Stocks Remain Near Record Highs Amid Earnings Surge
Stocks hovered near record highs on Wall Street Wednesday, with the S&P 500 rising 0.1% and the Dow Jones Industrial Average adding 473 points, or 0.9%, as of 2:12 p.m. Eastern time.
The Nasdaq composite fell 0.4% after setting records on Tuesday. Every major index had been surging this week, giving August a strong start, according to Nationwide's chief market strategist Mark Hackett.
Many companies reported strong earnings, with Walt Disney Co. rising 3.7% after beating profit forecasts and Booking Holdings jumping 6.5% due to increased travel demand.
Oil prices held steady following a potential deal to reopen the Strait of Hormuz, which has been affected by the ongoing US-Iran conflict.