One America News Network By STAN CHOE
NEW YORK (AP) — The U.S. stock market is rising toward records Tuesday after an easing of oil prices let Wall Street turn its focus back to the big profits that companies keep producing.
The S&P 500 rose 0.8% and was on track to top its all-time high set at the end of last week. The Dow Jones Industrial Average was up 287 points, or 0.6%, as of 11:30 a.m. Eastern time, and the Nasdaq composite was heading toward its own record after climbing 1%.
Stocks got a boost after oil prices gave back some of their big jumps from Monday. The price for a barrel of Brent crude, the international standard, fell 3.2% to $110.78 after briefly topping $115 on Monday, though it’s still well above its roughly $70 price from before the war with Iran.
U.S. military leaders said Tuesday that a ceasefire with Iran remains in effect, even though Iran was blamed for attacks against the United Arab Emirates the day before. The U.S. military is meanwhile trying to force open a path in the Strait of Hormuz, which would allow oil tankers to resume shipments from the Persian Gulf and hopefully bring down the price of crude…
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