Dow hits record close as Amgen, Eli Lilly, Disney rally; SpaceX, AMD weigh on Nasdaq
The Reuters segment reported mixed U.S. stock performance on Wednesday, with the Dow Jones Industrial Average rising about 0.5% to a new record close, the S&P 500 slipping marginally, and the Nasdaq falling over 0.8%. Declines were led by AMD (down 7%) and SpaceX (down nearly 14%) after their quarterly earnings releases. Gains in healthcare and entertainment stocks—Amgen (+4.5% on Q2 sales boost and raised outlook), Eli Lilly (+5% after raising full-year revenue forecast), and Disney (+3.5% on profit beat)—supported the Dow. Analyst Shaina Orsis (noted as founder/CEO of Bonrian/Banríon Capital Management) discussed impending SpaceX lockup expirations starting Thursday, warning of potential selling pressure from insiders monetizing long-held stakes.
Source: Reuters