US Stocks Edge Higher Amid Strong Earnings and Oil Prices
US stock futures edged higher on Wednesday morning, adding to their records set a day earlier. The S&P 500 climbed 0.5%, while the Dow Jones Industrial Average rose by 487 points or 0.9%. The Nasdaq composite increased by 0.3%.
The market's surge is attributed to strong corporate profits and expectations of continued growth. Three-quarters of the companies within the S&P 500 have reported results, with a 50% profit growth expected overall. Disney, Booking Holdings, and Nvidia are among the top performers after releasing their quarterly reports.
Despite concerns over high inflation and the ongoing US-Iran conflict, stocks remain steady. The price of Brent crude rose by 0.1% to $79.41 a barrel. Markets in Asia also saw gains, with Tokyo and Seoul benchmarks increasing more than 3%.