Dow Jones Closes at Record 54,349 on August 5, Up 0.49%, While S&P 500 Slips 0.17% and Nasdaq Falls 0.83% on SpaceX Selloff

U.S. stock markets were mixed on Wednesday, August 5, with the Dow Jones Industrial Average climbing 263.24 points or 0.49 percent to close at 54,349.12, posting a new all-time high and its fifth consecutive positive day. The S&P 500 retreated from a record to close down nearly 0.2 percent at 7,722.95, while the tech-heavy Nasdaq Composite slipped 0.83 percent to snap a four-day rally. Shares of AI chip heavyweight Nvidia soared more than 3 percent, while stocks rotated as investors assessed earnings and cheered diplomatic efforts for another peace deal between the U.S. and Iran, no matter how fragile. SpaceX didn't receive the Wall Street welcome it was looking for in its first report as a public company, with shares of the Elon Musk-led company dropping 13.61 percent to 108.27 dollars after its AI spending overshadowed a second quarter earnings beat. Shares of major chipmaker AMD also declined 7.04 percent despite topping revenue estimates and providing strong guidance, as investors focused on operating expenses that rose 40 percent year-over-year to 3.4 billion dollars amid heavy AI and R&D investments. The mixed session reflects a market grappling with exceptional corporate earnings against a backdrop of geopolitical optimism and sector-specific headwinds. On Tuesday, the S&P 500 closed above 7,700 for the first time, while the Dow jumped more than 900 points to mark the indices' first record closes since early June. Eight out of 11 sectors of the broad-market index ended in positive territory on Tuesday, with the Consumer Discretionary Select Sector SPDR, the Communication Services Select Sector SPDR and the Industrials Select Sector SPDR gaining 1.8 percent, 2.9 percent and 1.9 percent, respectively. Advancers outnumbered decliners on the NYSE by a 2.84-to-1 ratio on Tuesday, while on the Nasdaq, a 2.89-to-1 ratio favored advancing issues. Treasury Secretary Scott Bessent said on August 4 that we are in talks with the Iranians and there is a chance we may hav