* Indexes: Dow up 0.81%, S&P up 0.11%, Nasdaq off 0.04%

* SpaceX falls after reporting first earnings since going

public

* Eli Lilly ( LLY ) jumps after raising FY revenue forecast

* ADP data shows US economy added 44,000 jobs in July

(Updates with midday prices)

By Johann M Cherian and Shashwat Chauhan

Aug 5 (Reuters) - The S&P 500 and the Dow traded at all-time

highs on Wednesday on hopes of a Middle East peace breakthrough,

while the tech-heavy Nasdaq struggled to stay afloat, limited by

a slide in SpaceX and AMD after the upbeat forecasts issued by

the companies failed to impress investors.

Elon Musk-led SpaceX's revenue nearly doubled and

operating losses narrowed in its first earnings report since

going public, fueled by its booming Starlink satellite

communications and AI businesses.

But the rocket company's shares slid 7.3% after executives

flagged the spending spree underpinning its lofty ambitions was

far from over. Shares could face additional pressure from the

expiry of the stock's post-IPO lock-up period starting on

Thursday. Musk's other company, Tesla, slipped 1.3%.

"This is the culmination of the story of this entire

earnings season. SpaceX beat analysts' expectations on revenue,

but spending on AI is getting out of hand, with no signs of

slowing down anytime soon," said Nic Puckrin, cross-asset

analyst and founder of Coin Bureau.

Advanced Micro Devices ( AMD ) forecast quarterly revenue

above estimates, reflecting strong AI demand. However, shares

slipped 6.5%, suggesting investors were looking for a stronger

outlook to justify the stock's 142% jump this year.

Rival Nvidia's ( NVDA ) shares, which have lagged AMD this

year, rose 3.7%, also underpinned by SpaceX's plans to use the

company's hardware exclusively to build its data centers.

Five of the 11 S&P sectors were trading higher. Materials

led the gains with a 1.5% rise, tracking a 4% jump in

gold and silver prices. Energy stocks lagged with a near

2.1% fall.

Wednesday's moves built on Wall Street's recent rally that

took the benchmark S&P 500 and the blue-chip Dow

to record highs following strong forecasts from AI-hyperscalers

including Microsoft ( MSFT ) and Amazon ( AMZN ) in the previous

week.

At 11:38 a.m. ET, the Dow Jones Industrial Average

rose 435.60 points, or 0.81%, to 54,521.48, the S&P 500

gained 8.34 points, or 0.11%, to 7,744.86 and the Nasdaq

Composite lost 10.68 points, or 0.04%, to 26,574.32.

Investors also weighed a slew of earnings from other

sectors. Drugmaker Eli Lilly was up 2.8% after raising

its full-year revenue forecast, while Disney ( DIS ) rose 2.2%

after beating third-quarter profit expectations.

Arista Networks ( ANET ) jumped 3.8%, as the networking

equipment maker forecast third-quarter revenue above estimates.

Uber ( UBER ) lost 6.2% after forecasting current-quarter

adjusted earnings below estimates.

On the data front, U.S. private payrolls growth slowed in

July, as per the ADP national employment report. The bigger

focus will be on the official non-farm payrolls figures on

Friday.

Data has broadly reflected robust economic performance, but

with Middle East tensions keeping energy costs elevated and the

Federal Reserve offering no forecasts on monetary policy,

uncertainty persists.

Minneapolis Fed President Neel Kashkariin an interview with CNBC

said he believed now is the time to start slowly moving interest

rates higher. At least two more top Fed officials are expected

to speak later in the day.

Among others, drug developer Charles River Laboratories ( CRL )

jumped 11.8% after raising its annual profit forecast,

while medical device maker Insulet ( PODD ) tanked 20% after

lowering its annual sales growth forecast.

Declining issues outnumbered advancers by a 1.2-to-1 ratio

on the NYSE and by a 1.37-to-1 ratio on the Nasdaq.

The S&P 500 posted 33 new 52-week highs and two new lows,

while the Nasdaq Composite recorded 86 new highs and 50 new

lows.