S&P 500 Hits Record High on Strong Earnings, Up 0.6% at Market Open August 5

U.S. stock indices opened higher on Wednesday, August 5, with the S&P 500 marking a new record high and extending its fifth consecutive trading day of gains. The Dow Jones Industrial Average rose 398.04 points or 0.74% to 54,483.92; the Nasdaq Composite climbed 112.81 points or 0.42% to 26,697.81; and the S&P 500 gained 46.13 points or 0.6% to 7,782.65.

Latest corporate earnings showed U.S. economic fundamentals remain solid with sustained strong demand for AI infrastructure. Market optimism over potential U.S.-Iran peace breakthrough and the anticipated reopening of the Strait of Hormuz bolstered investor risk appetite. Despite disappointing guidance from SpaceX and AMD, which fell 11.67% and 6.88% respectively, the broader market rally continued. The Philadelphia Semiconductor Index edged down 0.03% to 12,175.07. TSMC ADR rose 0.96% to $421.09.