Wall Street Pushes to More Records as Profits Keep Piling up for US Companies
Snowflake jumped 33.4% and Dollar Tree rose 18.2% after both topped profit expectations, helping lift the market despite oil and inflation worries.
- Stock reached a new record high on Thursday, with the Dow Jones Industrial Average and the Nasdaq also climbing to all-time peaks after drifting between gains and losses earlier in the morning.
- Strong profit reports from major companies drove the market higher, with Snowflake rising 37.6% and Dollar Tree soaring 18.2% after both exceeded analysts' expectations for the latest quarter.
- Best Buy climbed 18.8% and Kohl's rallied 16.9% following better-than-expected earnings, while Hormel Foods gained 9.8% on strong performance from its Spam and Jennie-O brands.
- The personal savings rate fell to a four-year low of 2.6%, which Gary Schlossberg, global strategist at Wells Fargo Investment Institute, said is "pointing up the financial pressure on lower- and middle-income families."
- Oil prices fluctuated between $87 and $92 amid tensions in the Persian Gulf, where U.S. Central Command reported the United States intercepted missiles launched by Iran late Wednesday night.
53 Articles
53 Articles
Stocks Push Near Records As Corporate Profits Offset Oil Concerns
Wall Street moved back toward record territory Thursday as investors focused on another round of strong corporate earnings, even while oil prices and inflation concerns kept pressure on the broader economy. The S&P 500 added to its recent highs, while the tech-heavy Nasdaq also climbed as traders continued to reward companies showing resilient profits. Several retailers and technology companies helped drive the gains. Dollar Tree, Kohl’s, Best B…
Pittsburgh Post-Gazette
The BladeWall Street pushes to more records as profits keep piling up for U.S. companies
NEW YORK — The U.S. stock market pushed to more records Thursday as profits keep piling up for companies like Dollar Tree, Snowflake and Hormel Foods....
The Columbian
The Tribune-DemocratWall Street hangs near its records as profits keep piling up for U.S. companies and oil prices swing
NEW YORK — U.S. stocks are hanging near their records on Thursday as companies like Dollar Tree, Snowflake and Hormel Foods keep piling up profits. That’s even as oil prices continue to swing and more data shows pressure building on the economy because of the war with Iran. Read more...
Wall Street pushes to more records as profits keep piling up for US companies
NEW YORK (AP) — The U.S. stock market is pushing to more records Thursday as companies like Dollar Tree, Snowflake and Hormel Foods keep piling up profits. That's even as oil prices continue to swing and more data shows pressure building on the economy because of the war with Iran.
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