U.S. stocks opened higher Wednesday morning, buoyed by fresh earnings from Bank of America and easing investor anxiety despite continued volatility in energy and tech-related names.

The Dow Jones Industrial Average climbed 155.41 points, or 0.35%, to 44,178.70 shortly after the opening bell, while the S&P 500 added 17.36 points, or 0.28%, to 6,261.12. The Nasdaq Composite also advanced, rising 50.39 points, or 0.24%, to 20,728.20, continuing its rebound amid mixed performance from the semiconductor sector.

Bank of America (BAC) helped set the tone with second-quarter earnings that beat expectations on both the top and bottom lines. The bank reported net income of $7.1 billion on $26.5 billion in revenue, a 4% year-over-year increase, supported by a 7% rise in net interest income and steady credit trends.

CEO Brian Moynihan characterized the quarter as “another solid” one, citing resilient consumer activity, deposit growth, and trading strength. Net interest income came in at $14.7 billion, with gains across both Global Markets and core consumer lending. The Consumer Banking segment alone posted $3.0 billion in net income on $10.8 billion in revenue, aided by a 4% increase in debit and credit card spending to $244 billion.

However, investment banking remained a weak spot, with fees dropping 9% amid sluggish dealmaking. That trend mirrored broader softness in capital markets activity and a continued drag from commercial real estate exposure.

Gold Gains, Oil Drops in Diverging Commodity Action

In commodity markets, gold futures for August delivery rose $3.80, or 0.11%, to $3,340.50 per ounce as of 8:56 a.m. EDT. Trading volumes remained healthy at 70,040 contracts, with a day’s range of $3,329.40 to $3,349.80, reflecting cautious investor demand amid macroeconomic uncertainty and rate-sensitive positioning.

Conversely, crude oil futures slipped sharply, down $0.61, or 0.92%, to $65.91 per barrel. West Texas Intermediate crude opened at $66.73 and last traded at $66.52, signaling supply-side pressures or profit-taking ahead of key inventory data later this week. Volume was moderate at 54,170 contracts.

Tech Stocks Mixed as ASML Cautions on 2026

Semiconductor sentiment was less optimistic following ASML’s earnings report, which featured a solid Q2 beat but warned of uncertain growth prospects in 2026 due to rising geopolitical tensions and potential tariff risks from the Trump administration. ASML shares fell more than 6% in premarket trading, dragging down U.S. peers like KLA, Lam Research, and Applied Materials by as much as 2.9%.

Despite this, the Nasdaq managed to push higher, helped by resilience in other tech segments and investor focus on AI-related tailwinds. ASML noted strong Q2 orders and ongoing demand for EUV systems used in advanced chip manufacturing but struck a more cautious tone on the macro environment, citing “increasing uncertainty driven by macroeconomic and geopolitical developments.”

Office Real Estate Finds New Momentum

Meanwhile, commercial real estate found a rare bright spot, as office demand in major markets like New York City and San Francisco rebounded to pre-pandemic levels. According to Liz Hart, president of Leasing for North America at Newmark, “The big story of 2025 so far, five years post pandemic, five years post the reset, and demand is back,” she told AInvest.com.

Class A buildings and post-2019 construction are outperforming, fueled by a resurgence in tech-sector leasing and foreign investment. Hart added, “The technology industry went from being, you know, about 12% of the total US demand to almost 20% in the last year.” However, she warned that local tax policies could threaten progress, pointing to past instances in San Francisco where such measures drove companies away.

Outlook

As earnings season kicks into gear, markets are absorbing a mix of positive consumer and bank data against a backdrop of policy uncertainty and sector-specific headwinds. The early strength in equities suggests investors are willing to look past short-term caution, though volatility remains high—particularly in rate-sensitive and tech sectors.