Wall Street Stocks Rise Again as Corporate Profits Fuel Growth

Stocks on Wall Street rose in morning trading Wednesday, August 5, and added to their records set a day earlier. The S&P 500 climbed 0.5%, while the Dow Jones Industrial Average surged 487 points, or 0.9% as of 9:53 a.m. Eastern time.

The strong corporate profits reported by companies like Disney and Booking Holdings are helping to drive the market higher. Disney rose 3.2% after easily beating Wall Street's profit forecasts, while Booking Holdings jumped 5.5% after reporting strong travel demand drove profit and revenue growth during its most recent quarter.

Despite worries about high inflation, stocks continue to rise on expectations of more growth ahead. The uncertainty surrounding the US war with Iran continues to hang over the market, but oil prices held steady at $79.41 a barrel as Brent crude rose 0.1%.