Wall Street Stocks Waver Around Records as Oil Prices Hold Steady

Stocks on Wall Street wavered in morning trading on Wednesday and hovered around their records set a day earlier, while oil prices held steady. The S&P 500 climbed 0.1%, the Dow Jones Industrial Average added 455 points or 0.8% as of 11:45 am Eastern time, and the Nasdaq composite fell 0.2%. The coiled spring investors have been waiting for has finally released, with the S&P 500 Index surging to record highs for the first time in two months.

The market has been generally rising as companies head into the closing stretch of their latest round of earnings reports with sharp overall gains. Three-quarters of the companies within the S&P 500 have reported results so far, and Wall Street expects profit growth of 50% when they are all finished. The Walt Disney Co rose 2.1% after easily beating Wall Street's profit forecasts, helped by a $1 billion box office haul from 'Toy Story 5' and theme park revenue.

Booking Holdings jumped 6.2% after reporting that strong travel demand drove profit and revenue growth during its most recent quarter. However, Elon Musk's SpaceX fell 8.7%, despite reporting a smaller loss than Wall Street expected in its first quarterly report as a public company.

Treasury yields held relatively steady in the bond market. The yield on the 10-year Treasury remained at 4.63% from late Tuesday. Markets in Asia rose, with benchmarks jumping more than 3% in Tokyo and Seoul as computer chipmakers and other AI-related companies climbed.