Wall Street opened higher on Wednesday as hopes of progress in Middle East peace talks helped offset sharp losses in SpaceX and AMD.
The Dow Jones Industrial Average rose 180 points, or 0.3%, to 54,266, while the S&P 500 gained 35 points, or 0.45%, to 7,771. The Nasdaq Composite added 113 points, or 0.4%, to 26,689 shortly after the opening bell.
SpaceX bucked the broader rally, plunging 12% and wiping around US$205 billion from its market value following its first results since listing.
Investor sentiment was supported by reports that Iran and Oman had finalised a draft agreement aimed at resolving the dispute over shipping through the Strait of Hormuz.
Oil prices gave a mixed response. Brent crude remained 0.7% higher at just below US$80 a barrel, while US West Texas Intermediate slipped 0.2% to US$75.60, reversing a modest earlier gain.
