Dow, S&P 500 Close at New All-Time Highs; Disney Profit Rises, Will Add to Dow Surge; AMD Punished for High Capex

One thing that can be said about Wall Street: it loves a party.

Stocks were simply the rage on Tuesday, extending the across-the-board rally to four straight sessions, with the Dow and S&P posting record closing prices. The S&P made a decisive move forward, surpassing the June 2nd high of 7,609.78 without so much as making a pit stop in the 7,600 range, closing at 7,736.52. That certainly was a pretty loud cha-ching for SPY options players.

The beat goes on Wednesday after another Dow component, Disney (DIS), delivered an EPS surprise, reporting $2.06, well ahead of the estimated $1.85, while revenue of $25.25 billion came in just below expectations, at $25.41 billion. The profit boost sent shares of the entertainment monolith up 3.5 percent in pre-market trading.

After the close on Tuesday, these companies reported 2nd quarter results:
Advance Micro Devices (AMD) - top and bottom beat, but a 31% decline in gaming segment and high capex send shares down more than 7%
Opendoor (OPEN) - swing and a miss on EPS and revenue sending shares down 6% pre-market
Booking Holdings (BKNG) - top and bottom beat, record shareholder returns; stock up more than 6% prior to the bell

On Wednesday, before the open:
Shopify (SHOP) - solid beat, shares higher by 23% before the bell
Uber (UBER) - EPS beat, revenue miss, shares down 3%
Eli Lilly (LLY) - big wins on earnings and revenue, shares up 5%

Since the beginning of the rally last Thursday, here's the scorecard for the three majors, roughly:

Dow: +2480 points
S&P 500: +420 points
NASDAQ: +2200 points

Not bad for four days.

At the Close, Tuesday, August 4, 2026: Dow: 54,085.88, +907.47 (+1.71%) NASDAQ: 26,584.99, +671.10 (+2.59%) S&P 500: 7,736.52, +136.02 (+1.79%) NYSE Composite: 24,462.87, +207.34 (+0.85%)