U.S. equities continued their rally at midday Wednesday after a slew of stronger-than-expected earnings reports. The S&P 500 and Nasdaq gained 1%, while the Dow advanced as well.

Fortinet ( FTNT ) was the best-performing stock in the S&P 500 as the cybersecurity firm beat earnings and revenue forecasts and raised its guidance on strong services sales.

Shares of Axon Enterprise ( AXON ) also jumped after the Taser maker beat sales estimates on soaring demand for its Draft One artificial intelligence (AI) service.

Lumen Technologies ( LUMN ) surged for a second straight day after the telecom provider reported better-than-expected results and a boost in its free cash flow outlook.

Walt Disney ( DIS ) shares fell after the entertainment giant said slowing consumer demand and inflation were negatively impacting its theme park revenue in the U.S.

Shares of Rivian Automotive ( RIVN ) tumbled after the electric vehicle (EV) manufacturer’s net loss was bigger than anticipated as it continued to lose money on each EV it sells .

Airbnb ( ABNB ) shares dropped after the vacation rental firm missed profit estimates and warned about slowing demand in the U.S.

Oil and gold futures were higher. The yield on the 10-year Treasury note rose. The U.S. dollar gained on the euro and yen, but fell to the pound.  Most major cryptocurrencies traded lower.