US Stocks Rise to New Records

The Dow Jones Index is gaining 577 points or 1.17 percent on Wednesday. Leading the gains are Walt Disney (8.09%), Nvidia (3.97%) and Sherwin-Williams (3.28%).

US stocks rose on Wednesday as a potential end to the war with Iran improved the macroeconomic backdrop, while a series of strong earnings boosted AI stocks. The S&P 500 and the Nasdaq rose over 1% to new records, and the Dow added 600 points. The US reportedly was close to agreeing to a memorandum from Iran, potentially restoring trade through the Strait of Hormuz and triggering a slide in energy prices. Equities rose across all sectors, except energy producers. Meanwhile, AMD surged by 20% after beating earnings estimates and lifting its guidance on soaring levels of data center growth. Consistently, Super Micro Computer rose 15% on strong earnings. The news lifted others in the AI infrastructure space with Nvidia, Sandisk, Micron, and Intel adding over 2%. Also on the earnings front, Disney jumped 5% after reporting strong revenues, and Uber jumped 7% on a strong forecast for bookings.

Futures tracking US equities surged on Wednesday as a potential end to the war with Iran improved the macroeconomic backdrop, while a series of strong earnings boosted AI stocks. Contracts for the S&P 500 and the Nasdaq 100 gained 1% and 1.5%, respectively, for new records, while those for the Dow were 500 points higher. The US reportedly was close to agreeing to a memorandum from Iran, potentially restoring trade through the Strait of Hormuz and triggering a slide in energy prices. Equities across a broad range of sectors rose on the developments. Meanwhile, AMD surged by 20% after beating earnings estimates and lifting its guidance on soaring levels of data center growth. Consistently, Super Micro Computer rose 15% on strong earnings. The news lifted others in the AI infrastructure space with Nvidia, Sandisk, Micron, and Intel adding over 3%. Also on the earnings front, Disney jumped 5% after reporting strong revenues.