US stock futures edge higher and oil resumes ascent

NEW YORK (AP) — U.S. stock futures edged higher Wednesday morning, helped by strong corporate earnings reports and hopes for a deal setting the stage for talks that might eventually end the fighting in Iran.

Dow Jones Industrial Average futures rose 0.3%, while S&P 500 futures added 0.4%. Nasdaq futures gained 0.2%.

The Walt Disney Co. reported on Wednesday that a $1 billion box office haul from “Toy Story 5,” 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.

Shares of Chipotle Mexican Grill rose 1.8% in the premarket, a day after sinking nearly 10%. The restaurant chain said Tuesday it removed jalapeños from some of its restaurants after determining the peppers could potentially be tied to a salmonella outbreak public health officials are investigating.

Offsetting those gains were losses for SpaceX, which shed more than 10%. Late Tuesday SpaceX 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.

President Donald Trump said Tuesday a deal to reopen the Strait of Hormuz 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.

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.

Benchmarks jumped more than 3% in Tokyo and Seoul as shares in computer chipmakers and other AI-related companies advanced.

Japan’s Nikkei 225 gained 3.7% with chipmaker Kioxia surging 4.2% while chip testing equipment maker Advantest soared 8.8%.

The Kospi in Seoul shot up 3.8%, led by a 5.8% gain for memory chipmaker SK Hynix. Tech giant Samsung Electronics advanced 2.5%.

“Clearly today the market is rallying on the back of AI stocks. You look across the other sectors, there’s a bit of activity here and there, but really the focus has been back on semiconductors, technology and AI,” said Neil Newman, head of strategy for Astris Advisory Japan.

Elsewhere in the region, the Shanghai Composite index picked up 1.5% while Hong Kong’s Hang Seng added 0.3%.

In European trading, Germany’s DAX rose 0.2% while the CAC 40 in Paris edged less than 0.1% higher. Britain’s FTSE 100 declined 0.02%

On Tuesday, the S&P 500 shot up 1.8%, topping its prior all-time high set in June. The Dow Jones Industrial Average added 1.7% to its own record set the day before, while the Nasdaq composite jumped 2.6%.

Associated Press writer Mayuko Ono in Tokyo contributed to this report.

Specialist Dilip Patel works on the floor of the New York Stock Exchange, Thursday, July 30, 2026, in New York. (AP Photo/Yuki Iwamura)

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 5, 2026. (AP Photo/Ahn Young-joon)

A currency trader passes by a screen showing the Korea Composite Stock Price Index (KOSPI), SK Hynix and Samsung Electronics Co. stock price at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 5, 2026. (AP Photo/Ahn Young-joon)

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 5, 2026. (AP Photo/Ahn Young-joon)

Currency traders pass by a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 5, 2026. (AP Photo/Ahn Young-joon)

BERLIN (AP) — A drone with an explosive device was found at Germany's Leipzig/Halle Airport and a detonator was removed from the object, authorities said Wednesday.

Both the airport's runways were closed and several flights, including one passenger plane, were diverted to other airports after a flying object was sighted nearby shortly before midnight, police said, and an anti-explosives robot was deployed to check an object near the south runway.

A statement later Wednesday from Saxony's state criminal police office and prosecutors in the state capital of Dresden said that an airport employee discovered a drone near the airport's south runway with “an unknown explosive device,” and the object was examined by police. They removed its detonator. The statement didn't elaborate on the nature of the device.

Meanwhile, an apparent second flying object collided with a freight airplane after it aborted a landing because the runway was closed, police and prosecutors said. The plane flew to another German airport, Hannover, about 200 kilometers (125 miles) to the northwest, where officials found slight damage.

The north runway at Leipzig/Halle was reopened after about two hours. The south runway was scheduled to be out of action for maintenance on Wednesday. Authorities said there was no danger to passengers or airport employees, and flights weren't affected on Wednesday.

Photos from the scene showed police technicians with an explosives-disposal robot near a Ukrainian plane. The airport is a major cargo hub and the planes located there include Ukrainian Antonov transport aircraft.

There was no immediate information about who might have been responsible for the drone. NATO said it was aware of the incident but referred queries to German authorities.

In 2024, an incendiary device ignited at a logistics center at the airport and set fire to a freight container, part of a plot that Western security officials suspect Russian intelligence was behind. The flight it was supposed to take was delayed.

Asked whether he sees any direct connection to the overnight incident, German Interior Ministry spokesperson Leonard Kaminski said he does not at this point.

A view of Leipzig/Halle Airport where flight operations were suspended overnight after a sighting of a flying was reported and another object was found near a runway, in Schkeuditz, Germany, Wednesday, Aug. 5, 2026. (Tobias Junghanns/dpa via AP)

FILE -A Qatar Airways plane takes off from Leipzig/Halle Airport, July 18, 2025, Saxony, Schkeuditz. (Jan Woitas/dpa/dpa via AP, File)