Traders work on the floor of the New York Stock Exchange (NYSE) on May 5, 2026 in New York City, USA.
Brendan McDiarmid | Reuters
U.S. stocks rose on Tuesday, but oil prices fell as traders reacted to a number of strong earnings results.
of S&P500 It rose 0.81% to a new all-time high, closing at 7,259.22. of Nasdaq Composite rose 1.03% to a new high, hitting a record closing price of 25,326.13. of Dow Jones Industrial Average Added 356.35 points (0.73%) to end at 49,298.25.
Oil prices fell across the board, pushing up stock prices. West Texas Intermediate Crude Oil Futures It fell 3.9% to settle at $102.27 per barrel. brent crude oil futures It fell 3.99% to close at $109.87.
The ceasefire between the US and Iran remains fragile amid new attacks in the Strait of Hormuz. But Secretary of Defense Pete Hegseth said on Tuesday that the ceasefire was “certainly in place” and that “two U.S. commercial ships and a U.S. destroyer have already safely passed through the strait, indicating there are no obstructions to the shipping lanes.”
This comes after President Donald Trump said earlier this week that the US would “direct” ships stranded in the strait.
The better-than-expected quarterly results added further momentum to the stock market. especially, dupont de nemours Shares rose 8% after the company reported better-than-expected first-quarter profits and sales. U.S.-listed shares of Belgian beer company Anheuser-Busch InBev Shares soared more than 8% after strong quarterly results.
Palantir Technologies The company was an exception, though, as its stock fell nearly 7% even after the company’s first-quarter results beat analysts’ expectations, and sales posted the best growth since the company debuted on the public markets in 2020. The company also raised its full-year forecast.
About 85% of S&P 500 companies that have reported so far have beat expectations, according to FactSet data.
“We’ve seen incredible returns, not only from mega-cap tech stocks, but also from the broader S&P 500 and even the small-cap index in the U.S.,” said Zachary Hill, head of portfolio management at Horizon Investments.
Combine this with the market’s belief that both the US and Iran “want some kind of resolution to this conflict,” Hill continued, and it explains why the market is trading at all-time highs.
“The market generally understands the situation in the Strait of Hormuz,” he said. “I think there would have to be a significant change in the facts on the ground or a significant increase in oil prices for the market to re-engage with the context of the conflict.”
