Futures tied to the S&P 500 and Dow Jones Industrial Average gained on Wednesday, looking to build on a huge rally from the prior session. Traders also pored through the latest corporate earnings reports from companies such as SpaceX and Advanced Micro Devices. Dow futures were up 178 points, or 0.3%. S&P 500 futures added 0.4%, while Nasdaq-100 futures climbed 0.2%. SpaceX shares plunged 10% after the rocket company released its first quarterly report since going public in June. Elon Musk’s space firm said its capital expenditures jumped sixfold to $18.4 billion in the second quarter. This figure was ahead of analyst expectations, with the majority of the spending going towards AI. Chip giant AMD also dropped 7% in premarket after posting adjusted earnings that only came in slightly ahead of the Street’s estimates. However, Dow member Disney rose more than 3% on better-than-expected earnings for its fiscal third quarter. Markets jumped Tuesday, lifted by solid earnings and comments from Treasury Secretary Scott Bessent that the U.S. and Iran could be closing in on a deal to reopen the Strait of Hormuz. The S&P 500 rose 1.8% to close above 7,700 for the first time, and the Dow gained more than 900 points for another record close. The 10-year U.S. Treasury note yield fell on Wednesday following a weaker-than-expected jobs reading from payrolls processing firm ADP. The yield on the 10-year Treasury—the main benchmark for mortgages, auto loans, and credit card debt—was more than 1 basis point lower at 4.609%. The longer-dated 30-year Treasury bond yield, which is more sensitive to geopolitical risks, was down more than 2 basis points at 5.16%. The 2-year Treasury note yield, which tends to react in line with short-term Federal Reserve interest rate decisions, was up less than 1 basis point at 4.202%. Asia-Pacific markets rose Wednesday, with South Korean stocks leading gains. Kospi rose 3.8% to end the day at 6,598.26, and the small-cap Kosdaq rose 2.42% to 799.59. Japan’s Nikkei 225 gained 3.7% to 66,300.44, while the Topix added 2.1% to 4,046.17. Australia’s benchmark S&P/ASX 200 advanced 0.9% to close at 9,227.8. Mainland China’s CSI 300 climbed 1.24% to 4,658.16. Hong Kong’s Hang Seng Index was up 0.13% in the last hour of trade. Oil fell Tuesday following Bessent’s comments, though prices moved up slightly on Wednesday. West Texas Intermediate futures for September delivery rose about 0.3% to around $76 per barrel. Brent crude futures for October delivery, the international benchmark, were up 1% at about $80 a barrel. Gold rose for a third consecutive session on Wednesday, as lower oil prices and a softer dollar boosted the yellow metal’s appeal. Spot gold rose 1.4% to around $4,152.36 an ounce, while gold futures rose 1.1% to $4,200.20. Gold continues to move inversely to oil, which dropped over 5% on Tuesday after Treasury Secretary Scott Bessent told CNBC an agreement to open the Strait of Hormuz could be imminent.