US stocks rally near a record as falling oil prices ease Wall Street’s worries about inflation
U.S. stocks rallied to the edge of their all-time high after easing oil prices helped calm Wall Street’s worries that inflation could get even worse. A trader works on the floor of the New York Stock Exchange, Thursday, July 30, 2026, in New York. (AP Photo/Yuki Iwamura) NEW YORK (AP) — The U.S. stock market rallied to the edge of its all-time high on Monday after easing oil prices helped calm Wall Street’s worries that inflation could get even worse. The S&P 500 jumped 1.5% and is just 0.1% below its record set earlier this summer. It was coming off a frenetic July , where it swung up and down as oil prices shot higher because of the war with Iran , before ultimately ending the month just about where it started. The Dow Jones Industrial Average, which measures a narrower slice of the U.S. stock market, climbed 693 points, or 1.3%, to an all-time high, while the Nasdaq composite leaped 2.1%.
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Companies in the S&P 500 are on track to deliver earnings per share for the spring that are 47% higher than a year before, according to FactSet, with more than half of the companies in the index having already reported. The latest acquiescence by Trump helped to ease worries about the global flow of crude, and Treasury yields correspondingly fell in the bond market.
