Strong quarterly results from Disney and Eli Lilly drive investor optimism, pushing major U.S. stock indices to all-time highs.
The S&P 500 surged to a record intraday high Wednesday, supported by robust corporate earnings and easing geopolitical tensions. The Dow Jones Industrial Average also hit a fresh peak, rising 456 points or 0.84%, while the Nasdaq Composite climbed 0.4%.
Walt Disney Co. shares jumped over 2% after surpassing fiscal third-quarter expectations, while Eli Lilly’s stock soared 7% on stronger-than-anticipated profit and sales. SpaceX, however, saw its shares drop more than 10% following its first quarterly report since going public, revealing $18.4 billion in second-quarter capital expenditures.
Oil prices remained stable, with WTI futures near $75 per barrel and Brent crude at around $80. Treasury yields showed little movement as investors weighed the latest corporate and geopolitical developments.