US Stocks Climb as Equifax and Hasbro Deliver Strong Quarterly Earnings
US stock markets rise as solid profit reports from Equifax, Hasbro, and 3M boost investor confidence while crude oil prices ease back from highs.
POLICY WIRE — New York, United States — Most U.S. equities edged higher on Tuesday, propelled by robust profit reports from major corporations including Equifax and Hasbro, while crude oil prices retreated after nearing multi-month highs.
The S&P 500 advanced 0.3%, and the Dow Jones Industrial Average surged 529 points, or 1%. Meanwhile, continuous volatility within the artificial intelligence sector nudged the Nasdaq composite down by a modest fraction of less than 0.1%.
Equifax surged 11.3% to secure one of the session’s premier gains after posting summer profits that outpaced analyst forecasts, despite headwinds from high mortgage rates affecting parts of its operations. Hasbro jumped 11.2% following news that its Magic: The Gathering franchise surpassed $600 million in quarterly revenue for the first time.
Industrial giant 3M climbed 5.8% after delivering a stronger-than-anticipated bottom line despite persistent consumer hesitancy linked to high inflation. Meanwhile, crude oil pressures eased as Brent crude erased early gains to drop 0.7% to $108.79 per barrel following earlier spikes approaching $112, levels not seen since the outbreak of the war with Iran in late February.
Transportation equities benefited directly from the downward tick in fuel expenses, with American Airlines gaining 3.7% and United Airlines climbing 2.3%. Customer engagement platform Braze skyrocketed 51.7% to $45.57 after Salesforce proposed acquiring the company for $47.50 per share in cash.
General Motors weighed on market sentiment by sinking 6.8% despite beating profit expectations and announcing a massive $20 billion stock buyback program. The automotive manufacturer cautioned investors by providing a 2026 full-year profit forecast whose midpoint fell short of Wall Street expectations.
Artificial intelligence assets remained unstable amid ongoing anxiety that high bond market interest rates will restrict corporate borrowing for advanced hardware. CoreWeave experienced dramatic swings, initially dropping over 6% before rebounding to a 5% gain and eventually settling on a 1.7% increase.
At the closing bell, the S&P 500 added 21.84 points to finish at 7,712.57, while the Dow Jones Industrial Average gained 529.85 points to reach 52,495.88. The Nasdaq composite ticked down 6.07 points to close at 26,424.82.
International exchanges also faced mixed trading pressures, as European indexes pared earlier losses following severe civil unrest across the continent. Paris’s CAC 40 dipped 0.4% and London’s FTSE 100 slipped 0.3% as regional governments confront potential spending increases to address public frustration.
Reporting by Policy-Wire (PW)
