NEW YORK (AP) \u2014 Stocks are climbing in the early going on Wall Street, while oil prices ticked higher. The S&P 500 rose 0.6% Wednesday, adding to the record it set a day earlier. The Dow Jones Industrial Average rose 381 points, and the Nasdaq composite was up 0.4%. The Walt Disney Co. rose after reporting results that beat analysts\u2019 forecasts, helped by \u201cToy Story 5.\u201d SpaceX sank after increasing its spending on artificial intelligence. European and Asian markets were higher. Treasury yields held relatively steady in the bond market. The price of Brent crude rose 1% to just over $80 a barrel.<\/p>\n
THIS IS A BREAKING NEWS UPDATE. AP\u2019s earlier story follows below.<\/strong><\/p>\n NEW YORK (AP) \u2014 U.S. stock futures edged higher Wednesday morning, helped by strong corporate earnings reports and hopes for a deal setting the stage<\/a> for talks that might eventually end the fighting in Iran<\/a>.<\/p>\n Dow Jones Industrial Average futures rose 0.3%, while S&P 500 futures added 0.4%. Nasdaq futures gained 0.2%.<\/p>\n The Walt Disney Co.<\/a> reported on Wednesday that a $1 billion box office haul from \u201cToy Story 5,\u201d as well as strong results at its U.S. theme parks, helped drive up profits in the quarter ended in June. The stock gained 3.4% in the premarket.<\/p>\n Shares of Chipotle Mexican Grill<\/a> rose 1.8% in the premarket, a day after sinking nearly 10%. The restaurant chain said Tuesday it removed jalape\u00f1os from some of its restaurants after determining the peppers could potentially be tied to a salmonella<\/a> outbreak public health officials are investigating.<\/p>\n Offsetting those gains were losses for SpaceX, which shed more than 10%. Late Tuesday SpaceX<\/a> reported a smaller loss than Wall Street expected along with a surge in revenue in its first quarterly report as a public company. Capital expenditures reached $18.4 billion, with the vast majority of that spending going toward AI. That spending reached nearly $16 billion.<\/p>\n President Donald Trump<\/a> said Tuesday a deal to reopen the Strait of Hormuz<\/a> could come as early as Wednesday, as Iran and Oman inched toward an agreement on the critical waterway that could ease pressure on the global economy.<\/p>\n Still, oil prices resumed their ascent. Brent crude, the international standard, reversed early losses, gaining 1.15% to $80.28 per barrel early Wednesday. On Tuesday, it sank 5.3% as hopes rose for progress toward a full reopening of the Strait of Hormuz. Oil prices swung between $72 and $102 through July on uncertainty about when calm in the Middle East would allow oil tankers to freely exit the Persian Gulf again to deliver crude around the world.<\/p>\n