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The S&P 500 climbed 0.6% on Wednesday, while SpaceX stock slumped more than 10% on its first quarterly report since going public
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The S&P 500 reached a new all-time intraday high on Wednesday, as a wave of better-than-expected corporate results and hopes for progress on reopening the Strait of Hormuz lifted investor sentiment. The Dow Jones Industrial Average also scored a fresh record, gaining 456 points, or 0.84%. The Nasdaq $NDAQ Composite added 0.4%.
Walt Disney $DIS Co. shares advanced more than 2% after the entertainment giant's fiscal third-quarter results topped analysts' expectations. Eli Lilly $LLY shares surged 7% after the drugmaker's second-quarter profit and sales came in ahead of what analysts had anticipated.
