- U.S. stocks traded mixed on Wednesday, with the Nasdaq Composite falling over 100 points while the Dow Jones Industrial Average rose 0.79% to 54,514.16.
- Eli Lilly shares gained over 5% after reporting better-than-expected second-quarter earnings of $8.38 per share and quarterly sales of $22.974 billion.
- U.S. private businesses added 44,000 jobs in July, falling below market estimates of 70,000.
- Stock futures rose with Dow futures up 200 points, driven by strong earnings from Walt Disney and Arista Networks despite disappointing ADP employment data showing 44,000 private jobs added in July.
- Individual stock movements showed SpaceX shares dropping 11% due to a 550% surge in capital expenditures and Advanced Micro Devices falling 7% despite beating second-quarter forecasts.
- Asian markets closed broadly higher led by South Korea's Kospi surging 3.8%, while European markets displayed mixed results alongside improving July services PMI data.
