Stock market today: S&P 500, Dow head for fresh records

The S&P 500 (^GSPC) has risen about 0.5% pacing for a fresh record close. Financials (XLF) are up more than 0.8%, to lead the 11 sectors.

Meanwhile, Utilities (XLU) and Real Estate (XLRE), which had been ripping higher over the past month as investors grew more optimistic about interest rate cuts continued to lag on Wednesday, extending losses from the day prior.

Both Utilities and Real Estate have struggled in the past few sessions as investors have priced in fewer rate cuts over the next year in reaction to a stronger-than-expected September jobs report last Friday.

Disneyland's (DIS) theme park prices just went up again.

In an announcement early Wednesday, the company revealed more changes at California's Disneyland, including immediate price hikes on certain tickets and passes. Florida's Walt Disney World resort was not impacted by the changes.

Ticket prices, excluding its lowest-priced option, increased an average of 6%. Peak season, single-day tickets now cost $206, up from the prior $194. Add-ons like the popular park hopper pass, which allows guests to visit multiple parks within a single-day period, would cost an additional $65 to $75, depending on the season.

The company did not raise the cost of its lowest-tier one-day pass, which will remain at $104. It has been at that same price for the last six years.

Annual passes were hit with more sizable increases, with its various Magic Key passes seeing increases between $100 to $125, depending on the pass.

Disney said its ticket model is designed so that the days in high demand are priced higher. Guests who want a more affordable option are encouraged to find deals on lower-demand days.

“We always provide a wide variety of ticket, dining and hotel options, and promotional offers throughout the year, to welcome as many families as possible," Jessica Good, spokesperson for Disneyland Resort, said in a statement to Yahoo Finance.

The company has faced criticism regarding the high pricing at its parks, which has contributed to a recent demand slowdown. In an attempt to encourage more visitors, Disney has unveiled discounted tickets for kids and lower hotel prices during off-peak times.

Read more here about what this could mean for the company's bottom line.

Oil came off its session lows on Wednesday as traders weighed factors impacting prices this week including the latest US inventory data, China's stimulus, and the ongoing Middle East conflict.

West Texas Intermediate (CL=F) fell as much as 2% before paring losses to trade near $73 per barrel while Brent (BZ=F), the international benchmark price, also slipped less than 1% to trade above $76.

The latest US government data showed crude inventory rose by 5.81 million barrels last week, less than a gain of 11 million as projected by the American Petroleum Group, an industry organization.

Wednesday's dip follows a slide of more than 4% in the prior session after China's stimulus plans appeared to disappoint investors, and traders assessed whether the conflict between Tel Aviv and Tehran would ultimately impact Iran's crude production.

"If Israel were to strike Iran targeting oil facilities crude is likely underpriced, however, a strategic strike against military operations or other areas with minimal damage, and crude will likely migrate towards the $70/bbl area," Dennis Kissler, BOK Financial's senior vice president of trading wrote in a client note on Wednesday.

WW International (WW) stock has risen more than 2% today, extending its gains from Tuesday after the company announced after the company announced it's adding a compounded GLP-1 prescription weight loss offering.

The stock is now up more than 80% over the past five days.

Dallas Fed President Lorie Logan said Wednesday she would support lowering rates more gradually as the central bank moves forward.

"A more gradual path back to a normal policy stance will likely be appropriate from here to best balance the risks to our dual-mandate goals," Logan said in a speech in Houston.

Read more here.

New developments in the US Justice Department's battle with Google (GOOG, GOOGL) sent shockwaves through the tech world on Wednesday.

Yahoo Finance's Alexis Keenan reports:

The US Justice Department said in a new court filing that it may recommend a break up of Google (GOOG, GOOGL) as an antidote to unhealthy competition in the search engine market, showing just how far Washington is willing to go to rein in Big Tech.

DOJ lawyers used a 32-page document to outline a framework of options for DC District Court Judge Amit Mehta to consider, including "behavioral and structural remedies that would prevent Google from using products such as Chrome, Play, and Android to advantage Google search."

Google in a blog post said that "DOJ’s radical and sweeping proposals risk hurting consumers, businesses, and developers."

Read more here.

US stocks stalled on Wednesday as the risk of a Google breakup prompted a pause for thought in the wait for more Federal Reserve clues to the chances of a "soft landing."

The Nasdaq Composite (^IXIC) and the S&P 500 (^GSPC) slipped just below the flat line, while the Dow Jones Industrial Average (^DJI) dropped just more than 0.1%.

Taiwan Semiconductor Manufacturing Co. (TSM) posted quarterly revenues of NT$759.7 billion ($23.6 billion) on Wednesday, beating the NT$748.3 billion expected in Bloomberg consensus estimates.

US-listed stock in the Taiwanese company, which makes chips for Nvidia (NVDA) and Apple (AAPL), edged up 0.7% in premarket trading.

Rival Samsung (005930.KS) fell nearly 2%.

TSMC's third quarter revenue is 40% higher than the prior year, and nearly 13% higher than the prior quarter. The results counter fears of a slowdown in AI spending, as companies continue to buy hardware to power generative artificial intelligence tools. TSMC releases its full report on third-quarter results on Oct. 17.

Looking ahead, Wall Street analysts expect TSMC to report full year revenue of NT$2.8 trillion ($87.4 billion), a 30% increase from the prior year. Some 94% of analysts recommend buying the stock and expect its US-listing price to rise to $215 per share over the next 12 months. It closed Tuesday at $197.91 per share

Boeing (BA) shares were set to open lower on Wednesday after negotiations with its machinist union broke down and the aircraft maker withdrew its contract proposal.

Following a third round of bargaining talks that included two days of negotiations this week, Boeing'a COO Stephanie Pope told employees in an email that "further negotiations do not make sense at this point and our offer has been withdrawn."

Members of the International Association of Machinists and Aerospace Workers (IAM) have been on strike since Sept. 13 after voting down a tentative labor contract.

The union said Boeing refused to propose any wage increases, vacation or sick leave accrual, and would not reinstate a benefit pension, among other issues.

The labor talks breakdown occurred on the same day that rating agency S&P placed Boeing on CreditWatch, increasing the probability of a credit downgrade should the strike continue into the end of the year.

Boeing shares were down more than 1% in premarket trading.