US Stocks Hit Records Amid Oil Pullback and Strong Earnings
The S&P 500 climbed 0.8% to top its prior all-time high set at the end of last week. The Dow Jones Industrial Average added 356 points (0.7%) and the Nasdaq composite set its own record after rallying 1%.
Stocks rallied after oil prices retreated from Monday's surge. Brent crude dropped 4% to $109.87 per barrel after hitting $115, though still far above the pre-war $70 level. A U.S.-Iran ceasefire holds despite Iran's attacks on UAE, a U.S. ally.
U.S. forces aim to reopen the Strait of Hormuz for oil tankers, easing crude prices. Markets stay resilient amid the war, fueled by strong Q1 2026 corporate earnings despite rising oil. Investors focus on AI data center spending, shrugging off risks in a why ask why rally.
DuPont?s stock rallied 8.4% after the chemical giant led another cavalcade of companies reporting better-than-expected profits for the latest quarter. Other winners included American Electric Power Co which rose 1.8% and Cummins which added 2.8%, after they likewise made more money during the first three months of the year than analysts expected. Pinterest jumped 6.9% after the online bulletin board topped Wall Street?s first-quarter sales and profit targets as its number of active monthly users jumped 11% to 631 million.
AB InBev likewise topped analysts? profit forecasts, and it credited growth for its Corona, Stella Artois and Michelob Ultra brands outside of their home markets, among other factors. ?Cheers to beer,? CEO Michel Doukeris said, as the company?s stock that trades in the United States climbed 8.7%. They helped offset a drop for Palantir Technologies, which fell 6.9% even though it reported stronger results for the latest quarter than analysts expected.
In stock markets abroad, indexes were mixed in Europe. The CAC 40 rose 1.1% in Paris, but the FTSE 100 fell 1.4% in London. Many Asian markets were closed for holidays while Hong Kong?s Hang Seng fell 0.8%. Australia?s S&P/ASX 200 slipped 0.2% after the central bank raised its benchmark interest rate to 4.35%, saying conflict in the Middle East had sharply increased fuel and commodity prices that were already adding to inflation.
In the U.S. bond market, Treasury yields eased following oil?s drop in price and reports on the U.S. economy that came in mixed. The yield on the 10-year Treasury fell to 4.42% from 4.45% late Monday. That?s still well above its 3.97% level from just before the war began. The rise has made mortgages and other kinds of loans for U.S. households and businesses more
Powered by Capital Market - Live News
