The US stock market rallied to more records on Tuesday after an easing of oil prices let Wall Street turn its focus back to the big profits that companies keep producing.
- The S&P 500 rose 58.47 points, or 0.8%, to 7,259.22 and topped its prior all-time high set at the end of last week.
- The Dow Jones Industrial Average rose 356.35 points, or 0.7%, to 49,298.25
- The Nasdaq composite rose 258.32 points, or 1%, to 25,326.13.
Stocks got a boost after oil prices gave back much of their big jumps from Monday, the
AP reports. The price for a barrel of Brent crude, the international standard, fell 4% to $109.87 after briefly topping $115 on Monday, though it's still well above its roughly $70 price from before the war with Iran.
DuPont's stock rallied 8.4% after the chemical giant led another cavalcade of companies reporting better-than-expected profits for the latest quarter. DuPont said its water technologies business felt some impact from the war due to logistics disruptions in the Middle East. But it nevertheless raised its forecasts for financial results over the full year. 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. "Cheers to beer," CEO Michel Doukeris said, as the company's stock that trades in the US climbed 8.7%. They helped offset a drop for Palantir Technologies, which fell 7.2% even though it reported stronger results for the latest quarter than analysts expected. Like many software companies, its stock has struggled this year on worries about increased competition.
Even with the war ongoing, the US stock market has remained remarkably resilient on its record-setting run. That's in large part due to the strong profits that US companies have reported for the start of 2026 despite the rise in oil prices since the end of February. "This has been a 'why ask why' market,'" according to Scott Wren, senior global market strategist at Wells Fargo Investment Institute. "You just have to go with it." Even though many risks are still weighing on the market, "investors are looking at earnings" and how much companies are spending on AI data centers and other investments, he says.
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