US stock markets opened higher on August 5, with the S&P 500 and Dow Jones Industrial Average reaching new all-time highs. As of press time, the Dow rose 0.67%, the S&P 500 gained 0.63%, and the Nasdaq increased 0.41%.

The optical communication sector saw a broad rally, with Coherent climbing over 3%, Applied Optoelectronics advancing more than 1%, and Lumentum rising nearly 1%.

Chinese concept stocks showed mixed performance. Alibaba and Dingdong Maicai each gained over 1%, while NetEase, Kingsoft Cloud, and Xunlei fell more than 1%.

Large-cap tech stocks were mixed, with Advanced Micro Devices dropping over 5% and SanDisk declining nearly 3%, while Nvidia rose more than 3%.

SpaceX fell more than 12%. The company reported second-quarter revenue of $7.8 billion, up 92% year-over-year, exceeding the expected $6.81 billion. Second-quarter adjusted EBITDA was $3.5 billion, a 191% increase from the prior year, surpassing the analyst estimate of $2 billion. Capital expenditures for the quarter were $18.37 billion, slightly below the analyst forecast of $18.58 billion.