Wall Street stays steady at record highs as ‘coiled spring’ releases in August, with talks of deal to reopen Strait of Hormuz

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Wall Street held steady at record highs on Wednesday, with the S&P 500 edging up 0.1% and the Dow Jones gaining 473 points (0.9%) a day after both indexes set all-time highs. S&P 500 companies are reporting expected profit growth of 50%, with Disney surging 3.7% and Booking Holdings jumping 6.5%, while SpaceX fell 11.9% following its first quarterly results as a public company. Brent crude oil held steady at $79.26 per barrel as markets awaited a potential deal to reopen the Strait of Hormuz, a critical chokepoint for global oil shipments.

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