
US stocks rise after oil prices retreat and companies deliver strong profits
By Marcus Chen
WPLG Local 10
Advertisement

NEW YORK (AP) — Most of the U.S. stock market is rising Tuesday following strong profit reports from several big companies, even as more swings for the artificial-intelligence industry keep Wall Street unsettled.The S&P 500 added 0.3% after recovering a small initial loss. The Dow Jones Industrial Average was up 382 points, or 0.7%, as of 10 a.m. Eastern time, while the swings for AI stocks had the Nasdaq composite up a more modest 0.2%.Stock prices tend to follow the path of corporate profits over the long term, and several companies delivered results for the summer that were higher than analysts expected. Big expectations for growth are what have allowed the broad U.S. stock market to set records recently despite the worries about high inflation, higher interest rates and other challenges weighing on Wall Street.Equifax rallied 10.6% for one of the market's biggest gains after the credit-reporting company reported a bigger profit for the summer than analysts expected, despite high mo