[New York Stock Exchange] Dow and S&P 500 Hit Intraday Highs as Strong Earnings Drive Gains

Brent Crude Rises on Reports of Oil Tanker Attack Near Yanbu

As U.S. corporations continue to post strong earnings, all three major U.S. stock indexes were on the rise on the 5th (local time). While markets await a reopening agreement for the Strait of Hormuz, Brent crude oil rebounded following claims that Houthi rebels attacked an oil tanker.

At 9:50 a.m. on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average was up 446.91 points (0.83%) from the previous trading day, standing at 54,532.79. The large-cap S&P 500 index had risen 41.90 points (0.54%) to 7,778.41, and the tech-heavy Nasdaq index was up 74.12 points (0.26%) at 26,659.11.

New York Stock Exchange. New York (USA) - Special Correspondent Yoonju Hwang

Corporate earnings announcements are seen as the key driver of the market today. Disney, which is included in the Dow Jones index, beat expectations in its fiscal 2026 third-quarter results and climbed more than 2%. Pharmaceutical company Eli Lilly also rose 7% after reporting fiscal 2026 second-quarter revenue that exceeded forecasts.

According to FactSet, more than 84% of S&P 500 companies have reported results that beat expectations this earnings season. As a result, the Dow Jones soared by more than 900 points, and the S&P 500 index broke through the 7,700 mark for the first time ever, hitting an intraday record high.

Meanwhile, AMD and SpaceX, which released their earnings a day earlier, are down sharply by 4% and 12%, respectively. AMD slightly exceeded market expectations, and SpaceX announced that its revenue had far surpassed estimates, growing by 92% year-on-year.

Amid claims that the Iran-backed Houthi rebels attacked an oil tanker with a missile near the Saudi Arabian export hub of Yanbu, international oil prices have been volatile. Earlier, U.S. Treasury Secretary Scott Bessent hinted at an agreement on reopening the Strait of Hormuz, causing international oil prices to plunge.

At this hour on the New York Mercantile Exchange, September delivery West Texas Intermediate (WTI) crude is down 0.26% from the previous session at $75.54 per barrel. On the ICE Futures Exchange, October-delivery Brent crude was up 0.34% at $79.63 per barrel.

Meanwhile, private sector job growth in the United States slowed in July. U.S. employment data provider Automatic Data Processing (ADP) reported that private company employment rose by 44,000 last month compared to the previous month. This represents a significant decrease from the previous month's 95,000, and also falls short of the Dow Jones expert forecast of 75,000.

This content was produced with the assistance of AI translation services.