US stocks rally to the finish of their best month since 2020, even as oil prices whipsaw
The S&P 500 rallied 1% and topped its prior all-time high, closing out its best month in more than five years, as companies like Alphabet and Caterpillar reported profits that beat analysts' expectations. The gains came despite whipsaw moves in oil prices, which surged and then regressed amid concerns about the Iran war's impact on crude oil flow.
The US stock market reached new records as companies reported strong quarterly profits. The S&P 500 rose 1% to 7,209.01, while the Dow Jones Industrial Average jumped 790.33 points to 49,652.14. Alphabet's 10% rally led the way after its profit almost doubled analysts' expectations. Other companies, including Caterpillar and Eli Lilly, also saw significant gains after beating expectations. Oil prices surged overnight due to concerns about the Iran war's impact on crude oil flow but later eased, settling at $110.40 per barrel for Brent crude. Despite some investors' doubts about AI spending, the flood of better-than-expected profit reports helped keep Wall Street at record levels.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.