Mumbai, May 6 -- The U.S. stock market rose to records Tuesday after oil prices eased and companies kept reporting bigger profits for the start of the year than analysts expected.

The S&P 500 climbed 0.8% to top its prior all-time high set at the end of last week. The Dow Jones Industrial Average added 356 points (0.7%) and the Nasdaq composite set its own record after rallying 1%.

Stocks rallied after oil prices retreated from Monday's surge. Brent crude dropped 4% to $109.87 per barrel after hitting $115, though still far above the pre-war $70 level. A U.S.-Iran ceasefire holds despite Iran's attacks on UAE, a U.S. ally.

U.S. forces aim to reopen the Strait of Hormuz for oil tankers, easing crude prices. Markets stay resilient amid t...