South Korea Financial Markets

Currency traders work at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, Aug. 4, 2026.

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Wall Street rallies to records, pushing S&P 500 up 1.8%, as profits pile up and oil prices ease

Wall Street rallies to records, pushing S&P 500 up 1.8%, as profits pile up and oil prices ease

The U.S. stock market rallied to records as companies kept piling up profits and oil prices eased. The S&P 500 shot up 1.8% Tuesday, and the main measure of Wall Street’s health topped its prior all-time high set in June. The Dow Jones Industrial Average added 1.7% to its own record set the day before, and the Nasdaq composite jumped 2.6%. Palantir Technologies and Caterpillar helped lead the way after becoming the latest companies to deliver stronger profits for the spring than expected. Brent crude fell below $80 per barrel, which helped Treasury yields ease in the bond market.