Wall Street soars to records on earnings reports

The Dow Jones Industrial Average stands 300 points away from record readings.
The Nasdaq and the S&P posted record closes, just shy of all-time intraday highs.

FXStreet Team FXStreet

US indexes recovered the ground lost Monday and flirted with record highs, boosted by robust earnings reports that surpassed analysts' expectations. The Dow Jones Industrial Average added 144 points and closed the day at 26,656, while the Nasdaq and the S&P both posted record closes adding 1.32% and 0.88% respectively, stalling a handful of points below all-time intraday highs.

Crude oil prices extended their rallies to fresh yearly highs, amid persistent concerns about global supply after the US announced the end of waivers to those countries importing oil from Iran. Saudi Arabia welcomed the news, saying that it was necessary to halt Tehran's destabilizing policy in the region.

Following December's collapse, US indexes are back on track, boosted by solid local data and a Fed's more conservative approach to rate hikes.

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