(Updates with latest market prices and developments.)
US benchmark equity indexes were mixed intraday amid reports suggesting a deal to reopen the Strait of Hormuz was imminent.
The Dow Jones Industrial Average was up 0.8% at 54,528.1 after midday Wednesday, while the Nasdaq Composite fell 0.4% to 26,470.4. The S&P 500 was little changed at 7,737.7. On Tuesday, the S&P 500 and the Dow recorded fresh all-time highs, while the Nasdaq advanced for a fourth consecutive session.
Among sectors, materials paced the gainers intraday Wednesday, while communication services saw the steepest decline.
The US, Iran and Oman are moving toward an interim deal to reopen the Strait of Hormuz, with Washington looking at a Wednesday announcement, Axios reported, citing two regional sources and a US official.
US President Donald Trump reportedly said late Tuesday that an agreement to reopen the strait, the world's most important chokepoint for crude flows, was imminent.
"There are suggestions that a deal could be announced as soon as today, although reports that any agreement would be temporary suggest that the market would be wise not to get too carried away," ING Bank said Wednesday in report.
Meanwhile, Yemen's Iran-aligned Houthis claimed an attack on a Saudi Arabian tanker near the coast of Yanbu, a major port for Saudi crude oil exports, according to a CNBC report.
West Texas Intermediate crude oil was down 1.1% at $74.93 a barrel intraday, while Brent edged down 0.3% to $79.02.
Treasury yields were little changed, with the two-year rate at 4.2% at the 10-year rate at 4.62%.
Walt Disney's (DIS) fiscal third-quarter earnings rose above Wall Street's estimates even as revenue fell short of expectations despite a boost from "Toy Story 5." The stock was up 2.4%, among the best performers on the Dow.
Uber Technologies (UBER) was among the notable laggards on the S&P 500, down 6.5%, after the ride-hailing company's second-quarter revenue missed market estimates and it provided a soft third-quarter bookings guidance.
Shares of SpaceX (SPCX) slumped 10% intraday after the rocket and satellite company late Tuesday reported quarterly results for the first time since going public. The company's capital expenditures rallied to $18.37 billion in the second quarter from $2.83 billion a year ago.
Advanced Micro Devices (AMD) was down 6.3% even though it recorded fiscal second-quarter results above market estimates.
In economic news, US private-sector employment increased less than expected in July as gains were concentrated in just services, ADP (ADP) data showed Wednesday, ahead of the official nonfarm payrolls report for the month due later in the week.
Bureau of Labor Statistics data scheduled for Friday release are likely to show that the US economy added 88,000 nonfarm jobs last month, compared with a 57,000 increase reported for June, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.2%.
Spot gold jumped 4% to $4,241.96 per troy ounce, while silver advanced 3.5% to $62.37 per ounce.
