US stocks inch to more records after oil prices drop

NEW YORK (AP) — U.S. stocks inched to much records aft lipid prices fell backmost to wherever they were successful mid-April. The S&P 500 edged up by little than 0.1% Wednesday. The Dow Jones Industrial Average roseate 0.4%, and the Nasdaq composite gained 0.1%. All 3 indexes acceptable records. Bath & Body Works and Abercrombie & Fitch some rallied aft becoming the latest companies to present stronger nett reports for the commencement of 2026 than analysts expected. That’s adjacent though U.S. consumers person been getting much discouraged astir inflation. Stocks of oil-and-gas companies fell aft lipid prices dropped much than 4%. Treasury yields eased.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier communicative follows below.

NEW YORK (AP) — U.S. stocks are hanging adjacent their records Wednesday arsenic lipid prices autumn and easiness the unit connected households and businesses worldwide.

The S&P 500 roseate 0.1% and added to its all-time precocious acceptable the time before. The Dow Jones Industrial Average was up 243 points, oregon 0.5%, with an hr remaining successful trading, and the Nasdaq composite was 0.1% higher.

Stocks of companies with large substance bills helped pb the mode connected hopes that little lipid prices volition region a large resistance connected their profits. Norwegian Cruise Line Holdings climbed 5.9%, and United Airlines rallied 6.5%. Delta Air Lines roseate 3% and is connected way to acceptable an all-time high.

The terms for a tube of Brent crude lipid fell 4.6% to $92.25 aft the ceasefire betwixt the United States and Iran appeared to clasp contempt the U.S. subject launching what it called “self-defense” strikes successful confederate Iran. A tube of benchmark U.S. crude fell 5.5% to settee astatine $88.68 connected hopes that the United States and Iran tin scope an statement to reopen the Strait of Hormuz and let lipid tankers to exit the Persian Gulf for deliveries again.

Stocks person been capable to tally to records contempt the achy ostentation and uncertainty caused by precocious lipid prices mostly due to the fact that companies person reported amazingly beardown profits for the commencement of 2026, and the forecast is for them to continue.

Bath & Body Works rallied 10.7%, and Abercrombie & Fitch climbed 16% aft some reported bigger nett for the latest 4th than analysts expected. That's adjacent arsenic U.S. consumers proceed to accidental they're feeling discouraged astir the system and inflation.

Lululemon Athletica roseate 4.2% aft reaching a woody with its founder, Chip Wilson, wherever it volition adhd a erstwhile main selling serviceman of ESPN and a erstwhile co-CEO of On to its committee of directors.

On the losing broadside of Wall Street was Dick's Sporting Goods, which dropped 4.5% contempt delivering a nett for the latest 4th that edged past expectations. Analysts pointed to however overmuch nett it wrung retired of each $1 successful revenue, which immoderate called a spot weak.

Oil-and-gas stocks besides sank, wounded by the dropping prices for crude. Exxon Mobil fell 1%, and Chevron slipped 1%. Halliburton dropped 3.1% to bring its summation for the twelvemonth truthful acold backmost beneath 41%.

In the enslaved market, Treasury yields eased aft falling lipid prices took unit disconnected inflation. The output connected the 10-year Treasury slipped to 4.48% from 4.50% precocious Tuesday and from 4.67% astir a week ago.

It’s a respite pursuing caller gains for yields successful enslaved markets worldwide, which threatened to dilatory economies and undercut prices for stocks and each kinds of different investments. High yields person already forced the mean semipermanent U.S. owe complaint to its astir costly level since past summer, and they could curtail companies’ borrowing to physique the artificial-intelligence information centers that person supported the U.S. economy’s maturation recently.

In banal markets abroad, indexes were mixed crossed Europe and Asia. South Korea's Kospi was 1 of the world's champion performers and jumped 2.3% aft SK Hynix, which is simply a large beneficiary of the artificial-intelligence boom, soared 9.3%.

A time before, Micron Technology surged to go the latest Big Tech institution to beryllium worthy much than $1 trillion connected AI excitement. Its banal has much than tripled already successful 2026, and analysts astatine UBS said Tuesday it could soar adjacent much due to the fact that of however fundamentally AI has improved request for machine memory.

___

AP Business Writer Elaine Kurtenbach contributed to this report.

Copyright 2026 The Associated Press. All rights reserved. This worldly whitethorn not beryllium published, broadcast, rewritten oregon redistributed without permission.