Stocks
US Stock Market Hits New Highs Amid Strong Earnings and Declining Oil Prices
The US stock market started strong on August 4, with all three major indices reaching new highs. The Dow Jones Industrial Average surged by 627.85 points or 1.2% to trade around $53,806.26.
This increase was driven in part by the strong quarterly earnings of companies like Palantir Technologies and Caterpillar, which rose 15% and 10%, respectively.
The S&P 500 also reached a new all-time high of $7,678.27, up by 80.81 points or 1.06%. The tech-heavy Nasdaq Composite index soared nearly 2%, with Nvidia rising over 2% and Microsoft gaining 1.7%.