U.S. stocks climb toward records as oil prices fall and earnings beat forecasts
The U.S. stock market rose toward records on Tuesday as oil prices eased and companies reported strong profits, with the S&P 500 up 0.8% and on track to top its all-time high. DuPont's stock rallied 7.6% after the chemical giant led a cavalcade of companies reporting better-than-expected profits for the latest quarter.
The U.S. stock market is rising toward records as oil prices ease and companies report strong profits. The S&P 500 rose 0.8% and was on track to top its all-time high. The Dow Jones Industrial Average was up 263 points, or 0.5%, and the Nasdaq composite was heading toward its own record after climbing 1%. Oil prices fell 3.4% to $110.56 after briefly topping $115 on Monday. DuPont's stock rallied 7.6% after the company reported better-than-expected profits and raised its forecasts for financial results over the full year. Other companies, including American Electric Power Co. and Cummins, also reported strong profits, helping to offset a drop for Palantir Technologies. In international markets, indexes were mixed in Europe, with the CAC 40 rising 1.1% in Paris and the FTSE 100 falling 1.4% in London.
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