US stocks rise after companies deliver strong profits and oil prices retreat
NEW YORK — The U.S. stock market is rising Tuesday following strong profit reports for Equifax, Hasbro and other companies, while oil prices ease back after nearing their highest levels since the war with Iran began. The S&P 500 added 0.4 percent. The Dow Jones Industrial Average was up 518 points, or 1 percent, as of 11:45 a.m. Eastern time, while more swings for the artificial-intelligence…
U.S. stock markets surged on Tuesday due to strong profit reports from companies like Equifax and Hasbro, as well as a decline in oil prices, according to wire service reports. The S&P 500 increased by 0.4 percent, the Dow Jones Industrial Average jumped 1 percent, and the Nasdaq composite rose 0.2 percent. Analysts had predicted better-than-expected quarterly results from several companies, which helped drive up stock prices.
Despite concerns over inflation, higher interest rates, and other challenges, the long-term trend of stock prices following corporate profits has continued to propel the U.S. stock market to new heights. Equifax's profit surpassed expectations by a significant margin, while Hasbro also exceeded analyst forecasts.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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