Wall Street pushes to more records as profits keep piling up for US companies

Wall Street extended its ascent to new records on Thursday as Dollar Tree, Snowflake and Hormel Foods continued reporting rising profits. The S&P 500 added 0.4% to a fresh high, while the Dow slipped about 9 points and the Nasdaq advanced roughly 0.5% after both indexes had set records the day prior. Profit beats have helped propel equities despite swings in oil and inflation pressures, with Dollar Tree surging 18.1%, Snowflake up 34.1%, and Hormel Foods rising 9.8% on stronger results and demand drivers. Marvell Technology declined about 1.3% after reporting results in line with expectations.

Energy markets remained volatile as U.S. crude hovered near $89.76 a barrel, bouncing between $87 and $92 amid supply and geopolitical dynamics. Talks about reopening the Strait of Hormuz and renewed flow from the Persian Gulf influenced pricing, while U.S. Central Command reported missile interceptions linked to Iran tensions. In fixed income, the 10-year Treasury yield eased following inflation data that aligned with forecasts, helping to temper some risk-off sentiment as earnings and guidance shape the broader market backdrop.