US stocks rise within 0.5% of their record, even as oil prices keep climbing
U.S. stocks rose on Wednesday, driven by strong earnings reports from companies like BlackRock and Bank of New York Mellon. Despite the market gains, oil prices climbed due to ongoing geopolitical tensions involving Iran.
Why it matters
The market's resilience in the face of rising energy costs and geopolitical instability reflects investor confidence in corporate profit growth.
Add AP News as your preferred source to see more of our stories on Google. --> Share
NEW YORK (AP) — U.S. stocks ticked higher Wednesday following strong profit reports from BlackRock and other big companies. The tentative gains came as oil prices swung to their highest levels in a month because of the war with Iran.
The S&P 500 rose 0.4% after flipping between modest gains and losses through the day, and it’s back within 0.5% of its all-time high set last month. The Dow Jones Industrial Average added 150 points, or 0.3%, and the Nasdaq composite climbed 0.6%.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in