S&P 500 Hits Record High; Oil Prices Volatile Amid Iran Tensions

The S&P 500 hit its highest level on record on April 30, 2026, extending gains to nearly 1% on the day. 6% overall, and sat just above its all-time high set earlier in the week.

U.S. Stock market rose following strong profit reports from big companies including Alphabet, with companies delivering profits for the start of 2026 that exceeded analysts' expectations. m. Eastern time on April 30, 2026.

2% higher on the same day. 5% after reporting profit for the latest quarter that almost doubled analysts’ expectations. Caterpillar rallied more than 7% after delivering profits for the latest quarter that topped analysts’ expectations.

Eli Lilly rallied more than 7% on similar strong quarterly profits exceeding forecasts. 9% despite making more profit last quarter than expected, as the company increased its forecast for spending on data centers and other investments to a range of $125 billion to $145 billion in 2026.

5% after raising its forecast for investments and other capital spending. 4% even though it reported earnings in the latest quarter that exceeded analysts’ expectations. Oil prices whipsawed on Thursday, April 30, 2026, surging toward their highest levels since the war with Iran began before retreating.

Prices surged overnight on worries that the Iran war will affect the flow of crude for a long time. Iran has closed the Strait of Hormuz to oil tankers, keeping them pent up in the Persian Gulf and away from customers worldwide.

U.S. Navy blockade is preventing Iran from selling its own oil. 70 per barrel overnight on April 30, 2026. 4%, on April 30, 2026.

50 per barrel, set last month. Brent’s price was at roughly $70 per barrel before the war.

42% late Wednesday on April 30, 2026. U.S. economy’s growth accelerated by less in the first three months of 2026 than economists expected, while a measure of inflation worsened in March 2026 by about as much as expected.