Wall Street rallies to the edge of its all-time high as oil prices ease
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US stocks rallied to near an all-time high as oil prices eased, fueled by hopes of renewed talks between the US and Iran. The S&P 500 added 1.2% and the Dow Jones Industrial Average rose 317 points, driven by strong profit reports from companies and lower oil prices.
US stocks rallied on Tuesday, with the S&P 500 adding 1.2% and the Dow Jones Industrial Average rising 317 points. The rally was driven by hopes of renewed talks between the US and Iran, which eased oil prices. The price of Brent crude fell 4.6% to $94.79, helping to bring down costs for businesses. Strong profit reports from companies such as BlackRock and Citigroup also contributed to the rally. The US economy has been affected by the war, with inflation accelerating to 4% in March. However, analysts expect solid growth of over 12% for S&P 500 companies in the most recent quarter.
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