S&P 500 leaps 1.8% to an all-time high as profits keep piling up for US companies and as oil prices ease
The S&P 500 rose 1.8% as stronger profits from major companies and a 5.4% drop in Brent crude eased inflation worries, FactSet said.
- 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.
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Palantir Leads the Way as Wall Street Hits New Records
The US stock market rallied to records on Tuesday as profits kept piling up for companies and as oil prices eased. The S&P 500 rose 136.02 points, or 1.8%, to 7,736.52, and the main measure of Wall Street's health topped its prior all-time high set a...
Reforma
elnorte.comThe S&P 500 avanz 1.79%, up to 7 thousand 736 points, above its previous June r cord; the Dow Jones avanz 1.71% and hil second r cord.
Sydney Morning Herald
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International oil prices plummeted amid expectations of negotiations between the U.S. and Iran regarding transit rights in the Strait of Hormuz, causing the New York Stock Exchange's Dow and S&P 500 indices to hit all-time highs. Strong earnings from AI-related companies such as Palantir and Micron, coupled with expanding demand for data center equipment, led the rally, and investor sentiment is assessed to have recovered rapidly recently.
The Press of Atlantic City
Dow, S&P 500 close at records on AI-linked earnings, Mideast deal hopes
NEW YORK — The S&P 500 and the Dow closed at record highs Tuesday, powered by the latest batch of earnings from artificial intelligence-related companies such as Caterpillar and Palantir that assuaged demand concerns, while crude prices and Treasury yields…
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