Nasdaq Hits Fresh High as Cooling Oil Prices Lift Stocks

CNBC, AP, and Market Watch contributed to this report.

Wall Street found its footing again Tuesday – and then some.

The Nasdaq Composite climbed 1% to a new intraday record, leading a broader rally as investors leaned into strong earnings and a pullback in oil. The S&P 500 rose 0.8%, while the Dow Jones Industrial Average added about 260 points.

A big part of the mood shift came from energy markets. Oil prices, which had been surging on Middle East tensions, cooled off. US crude slipped roughly 4% to around $102 a barrel, while Brent dropped about 3%, though it’s still hovering above $110. That easing took some pressure off equities, at least for now.

Geopolitics hasn’t exactly faded into the background. The situation around the Strait of Hormuz remains fragile, even with a ceasefire technically in place between the US and Iran. Still, comments from US officials suggesting shipping lanes are open – and that vessels are moving through safely – helped calm nerves.

Back on Wall Street, earnings are doing a lot of the heavy lifting.

Companies keep beating expectations. Roughly 85% of those in the S&P 500 that have reported so far have topped forecasts, a surprisingly strong showing given everything happening globally. That momentum is spreading beyond Big Tech, pulling in industrials, utilities, and consumer names.

Some standouts: DuPont de Nemours jumped about 8% after posting better-than-expected results and raising its outlook. Anheuser-Busch InBev saw a similar surge, helped by solid global demand.

Not every stock joined the party. Palantir Technologies slid around 6%, even after beating estimates and boosting its full-year guidance. After a massive run in recent years, expectations were already sky-high.

The broader takeaway? Investors are, for the moment, looking past geopolitical noise and focusing on profits. There’s a growing sense that both Washington and Tehran want to avoid a full escalation, and that belief is helping keep markets steady.

That doesn’t mean the risk is gone. Oil could spike again if conditions shift. But right now, with prices easing and earnings holding up, stocks are riding the momentum – and pushing into record territory.