S&P 500 leaps 1.8% to an all-time high as profits keep piling up for US companies and as oil prices ease
Strong earnings from AI-linked companies and easing oil prices lifted Wall Street to record highs, with the S&P 500 up 1.8% and the Dow 1.7%.
- The Dow Jones Industrial Average and the Nasdaq hit record highs on Tuesday as corporate profits surged and oil prices eased, propelling Wall Street to a new apex.
- Companies delivered exceptional earnings, with nearly 50% growth in quarterly earnings per share—the largest jump since 2021—as the economy remained resilient despite inflation concerns.
- Palantir Technologies soared 29.5% after CEO Alex Karp reported 93% revenue growth, calling it an "otherworldly" quarter, while Caterpillar climbed 6.6% after surpassing $20 billion in quarterly sales.
- Brent crude fell below $80 per barrel while the 10-year Treasury yield dropped to 4.63% from 4.70%, easing inflation pressure on borrowing costs and the broader economy.
- Reports showed employers advertised nearly 7.4 million job openings at month-end, while markets in Europe and Asia rose modestly, signaling continued economic stability amid persistent inflation concerns.
178 Articles
178 Articles
US stocks hold near records on hopes of an agreement with Iran
Stocks held close to their records on Wall Street, while oil prices were relatively steady. The S&P 500 slipped 0.2% Wednesday from the all-time high it set a day earlier. The Dow Jones Industrial Average rose 0.5%, and the Nasdaq…
STOCK MARKET: Wall Street’s ‘fear gauge’ is doing something unusual as stocks hit record highs
Traders work on the floor of the New York Stock Exchange. NYSE Tuesday’s rally was so intense that it’s shaking up some of the usual assumptions around volatility pricing. The Cboe Volatility Index (VIX) – sometimes referred to as the stock market’s “fear gauge” – rose a full point in the midst of Tuesday’s breakout 1.8% rally in the S&P 500. As stocks extended gains in the first hour of trading Wednesday, the volatility gauge was up alongside e…
US stocks hold near records on hopes of an agreement with Iran
Stocks held close to their records on Wall Street, while oil prices held steady. The S&P 500 slipped 0.2% Wednesday from the all-time high it set a day earlier. The Dow Jones Industrial Average rose 0.5%, and the Nasdaq composite…
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