Earnings rally lifts Wall Street toward records; GE Vernova soars as Brent tops $102

Wall Street climbed Wednesday, moving closer to record levels as robust corporate results helped investors look past a jump in oil prices and geopolitical tensions. The S&P 500 rose 0.9%, the Dow Jones Industrial Average gained 317 points, and the Nasdaq Composite advanced 1.3%.

The broad gains reflected renewed risk appetite even as energy markets tightened. Among individual movers, GE Vernova surged 12% after beating profit forecasts, while Boston Scientific rallied almost 9% following strong performance that impressed investors. The upbeat showings added momentum to a market already buoyed by earnings optimism.

Not all signals were supportive. Brent crude topped $102 a barrel as tensions with Iran grew, a move that rekindled inflation concerns and highlighted the fragility of the global backdrop. In corporate news, Best Buy shares fell more than 5% after the company said its chief executive would step down.

The leadership change weighed on the retailer despite the broader market’s advance. Cannabis names also caught a bid, with Tilray and Canopy Growth rallying as talk of new regulations picked up. The moves underscored how policy speculation can drive sharp swings in the sector.

The session ultimately reflected a balancing act: strong earnings and selective corporate standouts pulling indexes higher, even as rising crude and geopolitical unease tempered enthusiasm.