US Stocks Surge on Strong Corporate Profits

US stock futures edged higher on Wednesday morning, building on records set a day earlier. The S&P 500 climbed 0.5%, while the Dow Jones Industrial Average added 487 points, or 0.9%, as of 9:53 a.m. Eastern time.

The market momentum was fueled by strong corporate profits and expectations for continued growth. Three-quarters of the companies within the S&P 500 have reported results so far, with Wall Street expecting profit growth of 50% when they are all finished.

Disney rose 3.2% after easily beating Wall Street's profit forecasts, thanks to a $1 billion box office haul from 'Toy Story 5' and theme park revenue. Booking Holdings jumped 5.5% due to strong travel demand driving profit and revenue growth in its most recent quarter.