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

Wall Street extended its ascent to fresh records on Thursday as U.S. companies continued reporting higher profits. The S&P 500 rose 0.4% to an all-time high after a session of modest moves, with trading activity noted as of 11:15 a.m. Eastern time. The Dow Jones Industrial Average drifted down about 9 points, while the Nasdaq composite gained roughly 0.5% and also touched a record the day before. Dollar Tree jumped 18.1% after a better‑than‑expected quarterly profit and an optimistic full‑year outlook, with Kohl’s up 16.3% and Best Buy 15.9% on stronger results. Snowflake surged 34.1% as AI momentum boosted its quarter, offsetting a modest dip for Marvell Technology.

Oil markets remained volatile as U.S. crude traded around $89.76 a barrel, after bouncing between roughly $87 and $92 in recent sessions. Energy swings come as market participants weigh the potential reopening of the Strait of Hormuz and renewed energy flows from the Persian Gulf. In Treasuries, yields eased after inflation data suggested the Fed’s preferred measure accelerated last month but stayed near economists’ forecasts. The overall mood reflected ongoing confidence in corporate profitability even amid inflation and geopolitical risk.