Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 4, 2026.
Jeenah Moon | Reuters
Futures tied to the S&P 500 and Dow Jones Industrial Average gained early Wednesday, looking to build on a huge rally from the prior session. Traders also pored through the latest corporate earnings reports from companies such as SpaceX and AMD.
Dow futures were up 172 points, or 0.3%. S&P 500 futures added 0.4%. Nasdaq-100 futures were flat on the day.
SpaceX shares plunged 11% after the rocket company released its first quarterly report since going public in June. Elon Musk‘s space firm said its capital expenditures jumped sixfold to $18.4 billion in the second quarter. This figure was ahead of analyst expectations, with the majority of the spending going towards AI.
Chip giant AMD also dropped 7% in premarket after posting adjusted earnings that only came slightly ahead of the Street’s estimates.
However, Dow member Disney rose more than 3% on better-than-expected earnings for its fiscal third quarter.
Markets jumped Tuesday, lifted by solid earnings and comments from Treasury Secretary Scott Bessent that the U.S. and Iran could be closing in on a deal to reopen the Strait of Hormuz. The S&P 500 rose 1.8% to close above 7,700 for the first time, and the Dow gained more than 900 points for another record close.
Oil fell Tuesday following Bessent’s comments, though prices bounced slightly on Wednesday. West Texas Intermediate futures for September delivery rose about 0.7% to $76.30 per barrel. Brent crude futures for October delivery, the international benchmark, were up 1.6% at $80.63 a barrel.
