US stock market today: Wall Street scales new record highs; oil prices hold steady - The Times of India

• US stocks lost early momentum as gains from hopes of a Middle East peace breakthrough were offset by declines in SpaceX and AMD. • SpaceX shares fell approximately 12% following its first public earnings report, though retail investors began "buying the dip" on Wednesday.

• The Dow Jones Industrial Average and S&P 500 reached new record highs, driven by strong corporate earnings linked to artificial intelligence. • Market gains were further supported by diplomatic progress in talks with Iran, which contributed to a decrease in crude oil prices by approximately 6%.

• The S&P 500 reached a new record high on Tuesday, while the Dow Jones Industrial Average closed above 54,000 points for the first time in history. • This surge was driven by strong corporate earnings, a recovery in technology shares, and investor optimism regarding the reopening of the Strait of Hormuz.

• The Euro zone economy showed resilience in July, with a revival in the services sector driving overall activity as indicated by the final Purchasing Managers' Index (PMI). • Readings above the 50.0 threshold signaled growth, though Chris Williamson of S&P Global Market Intelligence noted that the business climate remains heavily influenced by geopolitical shifts.

• The S&P 500 and Dow Jones Industrial Average reached new all-time highs, while the Nasdaq 100 hit a one-month high. • Market gains were driven by positive corporate earnings, notably Booking Holdings, which saw its stock rise over 7% following better-than-expected Q2 gross bookings.

• European stock markets closed with mixed results on Wednesday following a volatile trading session characterized by frequent swings between gains and losses. • Investors maintained a cautious stance as they evaluated recent corporate earnings reports and analyzed the potential impact of U.S. economic developments.

• Banco Santander, S.A. has received official approval from the Board of Governors of the Federal Reserve to acquire Webster Financial Corporation. • The deal aims to strengthen Santander's U.S. franchise, with most of Webster's operations being integrated into Santander Bank, N.A. upon closing.

• US stock markets reached a record high following optimism that the Strait of Hormuz will remain open for commercial shipping. • US Central Command announced on Tuesday that the waterway is "free and open," noting that US forces have assisted over 1,000 vessels in transiting the area over the last three months.

• Citigroup strategist David Chew reports that Europe's stock market is currently the only major region seeing a meaningful increase in risk appetite. • This growth is driven by a combination of fresh capital inflows and corporate earnings that have exceeded expectations.

• Commerzbank CEO Manfred Orlopp is meeting with UniCredit CEO Andrea Orcel to discuss a potential takeover of the German lender. • The European Central Bank (ECB) has formally begun a regulatory review of UniCredit's request to increase its stake in Commerzbank beyond 30%.

• Orrön Energy has entered into an agreement to merge its Nordic platform, excluding Karskruv, with Cloudberry to establish a leading Nordic Independent Power Producer (IPP). • The strategic move is supported by a major shareholder and a management team with a proven track record of scaling successful businesses.