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US stocks rise within 0.5% of their record, even as oil prices keep climbing

NEW YORK (AP) — U.S. stocks ticked higher Wednesday following strong profit reports from BlackRock and other big companies. The tentative gains came as oil prices swung to their highest levels in a month because of the war with Iran.

The S&P 500 rose 0.4% after flipping between modest gains and losses through the day, and it’s back within 0.5% of its all-time high set last month. The Dow Jones Industrial Average added 150 points, or 0.3%, and the Nasdaq composite climbed 0.6%.

BlackRock helped lead the market with a rise of 6.6% after the company behind some of the most popular investment funds reported stronger profit and revenue for the latest quarter than analysts expected. CEO Laurence Fink said its iShares funds topped $6 trillion in assets under management during the quarter, roughly doubling in three years.

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