Nasdaq Hits Record High as Oil Pulls Back and Earnings Impress

CNBC reported Tuesday that U.S. stocks pushed higher, with the Nasdaq Composite reaching a fresh all-time intraday high as declining oil prices and a wave of strong corporate results lifted investor sentiment.

The Nasdaq gained 0.8% to set its record. The S&P 500 advanced 0.6%, and the Dow Jones Industrial Average added roughly 215 points, equivalent to a 0.5% rise.

Oil Retreat Gives Stocks Room to Run

Crude markets sold off sharply, providing significant relief to equity investors. West Texas Intermediate futures fell roughly 3% to just above $102 per barrel. Brent crude dropped around 2%, trading slightly above $111 per barrel.

The pullback followed a turbulent Monday session, when reports of Iranian drone and missile strikes against the United Arab Emirates reignited fears over Strait of Hormuz shipping access. U.S. forces reportedly intercepted Iranian vessels attempting to disrupt commercial traffic through the strait. Defense Secretary Pete Hegseth said Tuesday the ceasefire between Washington and Tehran “certainly holds,” pointing to two commercial ships and American naval destroyers that have already transited the corridor safely.

Earnings Season Delivers Broad Upside

Corporate results added further fuel to the rally. Pfizer shares moved higher after the pharmaceutical giant topped first-quarter revenue and earnings estimates, while also maintaining its full-year guidance.

U.S.-listed shares of Belgian brewing giant Anheuser-Busch InBev surged around 8% following its own upbeat quarterly results. The brewer’s performance stood out as one of Tuesday’s clearest outperformers.

Palantir Technologies was a notable exception. Shares slid approximately 3% despite the data-analytics firm posting its fastest revenue growth since its 2020 public debut and lifting its full-year outlook. Investors appeared to lock in gains after a strong prior run.

Background: Monday’s Selloff and Trade Data Context

Monday’s session had ended in the red after geopolitical risk flared suddenly in the Middle East. The escalation sent oil prices climbing and dragged stocks lower before Tuesday’s reversal.

Separately, fresh Commerce Department data showed the U.S. goods-and-services trade deficit widened slightly in March to $60.3 billion, up $2.5 billion from February. However, the figure still represented a 55% improvement compared with the same month a year earlier, before President Donald Trump’s tariff regime took hold. Exports rose 12% while imports fell 9.1% over the annual comparison period.

Market strategists at Vital Knowledge struck a measured but constructive tone on the geopolitical backdrop, arguing that the White House appears focused on steering Middle East tensions toward a negotiated outcome rather than open military confrontation.

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