Why did the U.S. stock market hit new records despite rising oil prices and inflation concerns?

The U.S. stock market pushed to new records largely because U.S. companies kept reporting stronger-than-expected profits, with stocks like Dollar Tree, Snowflake, Hormel Foods, Kohl’s, and Best Buy all surging after beating analysts’ earnings expectations; as the article states, 'Stock prices tend to follow the path of corporate profits over the long term, and companies have been routinely topping analysts’ expectations for the first three months of 2026.'

What role did the tentative U.S.-Iran ceasefire extension play in Thursday’s market performance?

The tentative deal to extend the ceasefire in the war with Iran by 60 days helped lift the market and rein in oil prices, causing stocks to turn higher after oil gave back most of its morning gains — the benchmark U.S. crude settled at $88.90 after falling from an overnight high above $92.50 — and contributing to easing Treasury yields, with the 10-year yield dropping to 4.45% from 4.48%.

Wall Street Pushes to More Records as Profits Keep Piling Up for US Companies

May 29, 2026

US stock markets reached record highs driven by strong earnings from firms like Hormel Foods and Snowflake. Oil prices settled near $89 per barrel following tentative ceasefire talks between the US and Iran.

apnews

2026-05-29

Wall Street Pushes to More Records as Profits Keep Piling Up for US Companies

Wall Street Pushes to More Records as Profits Keep Piling Up for US Companies

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