US stocks rally toward a record while Brent oil tops $100 on uncertainty about the Iran war
US stocks rallied towards a record high as companies like GE Vernova and Boston Scientific reported stronger-than-expected profits, despite rising oil prices amid uncertainty over the Iran war. Brent crude oil prices topped $100 due to concerns over the war's impact on global oil supply.
The US stock market is rallying towards a record high as companies report stronger-than-expected profits. The S&P 500 climbed 0.9% and was on track to top its all-time high. GE Vernova's profit for the first three months of the year blew past analysts' expectations, causing its stock to fly 12.8% higher. The company's electrification business booked $2.4 billion in equipment orders for data centers during the quarter. Oil prices rose due to uncertainty over the Iran war, with Brent crude adding 1.7% to $100.16. The war has restricted traffic through the Strait of Hormuz, raising doubts about when or if talks would resume to end the crisis.
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