U.S. stocks edged higher to new records Wednesday as crude prices fell sharply, Treasury yields eased and stronger-than-expected earnings from retailers helped offset inflation concerns.
By yourNEWS Media Newsroom
U.S. stocks set more records Wednesday as oil prices fell sharply, easing inflation concerns and helping lift travel-related shares while investors continued to reward companies reporting stronger-than-expected profits.
The S&P 500 rose less than 0.1%, while the Dow Jones Industrial Average gained 0.4% and the Nasdaq composite added 0.1%. All three major indexes finished at record highs.
The latest market gains came as crude prices retreated to levels last seen in mid-April. Brent crude, the international benchmark, fell 4.6% to $92.25 a barrel. U.S. benchmark crude dropped 5.5% to settle at $88.68.
Oil fell as the ceasefire between the United States and Iran appeared to remain in place despite U.S. military strikes in southern Iran that officials described as “self-defense” actions. Investors also focused on hopes that Washington and Tehran could reach an agreement to reopen the Strait of Hormuz, allowing oil tankers to resume shipments out of the Persian Gulf.
The decline in crude helped lift companies with large fuel costs. Norwegian Cruise Line Holdings climbed 5.9%, United Airlines rallied 6.5%, and Delta Air Lines rose 3%. Delta remained on track to reach an all-time high.
Oil-and-gas stocks moved lower as energy prices fell. Exxon Mobil declined 1%, Chevron slipped 1%, and Halliburton dropped 3.1%, trimming its 2026 gain to below 41%.
Treasury yields also eased as lower oil prices reduced pressure on inflation. The yield on the 10-year Treasury slipped to 4.48%, down from 4.50% late Tuesday and 4.67% roughly one week earlier.
The pullback in yields offered relief after recent increases across global bond markets threatened to weigh on stocks, slow economic activity and raise borrowing costs. Higher yields have already pushed the average long-term U.S. mortgage rate to its highest level since last summer. They could also make it more expensive for companies to finance artificial intelligence data centers, which have become a key source of U.S. economic growth.
Corporate earnings continued to support the stock market’s advance. Bath & Body Works jumped 10.7% after reporting stronger quarterly profit than analysts expected. Abercrombie & Fitch surged 16% after also beating profit expectations.
The retail gains came despite signs that U.S. consumers remain discouraged by inflation and the broader economy.
Lululemon Athletica rose 4.2% after reaching an agreement with founder Chip Wilson to add two new directors to its board: a former ESPN chief marketing officer and a former co-CEO of On.
Dick’s Sporting Goods moved in the opposite direction, falling 4.5% even after reporting quarterly profit that slightly exceeded expectations. Analysts pointed to weaker-than-expected profit generated from each dollar of revenue.
U.S. stocks have continued to reach records despite uncertainty tied to inflation, oil prices and the U.S.-Iran conflict. Strong corporate profits for the start of 2026 and expectations for continued earnings growth have helped support investor confidence.
Global markets were mixed. Indexes across Europe and Asia moved unevenly, though South Korea’s Kospi was one of the strongest performers, rising 2.3%. SK Hynix, a major beneficiary of artificial intelligence demand, surged 9.3%.
The move followed Tuesday’s rally in Micron Technology, which became the latest major technology company to surpass a $1 trillion valuation. Micron’s stock has more than tripled in 2026. UBS analysts said the stock could rise further because artificial intelligence has significantly increased demand for computer memory.
Wednesday’s trading showed investors balancing several forces at once: easing oil prices, lower bond yields, strong corporate earnings, persistent consumer unease and continued enthusiasm around artificial intelligence. For now, falling crude prices and better-than-expected profits were enough to push Wall Street’s major indexes to new highs.