The US stock market rallied to more records Wednesday after GE Vernova, Boston Scientific and other big companies joined the parade reporting fatter profits for the start of the year than analysts expected. But caution still hung over Wall Street, and oil prices rose on uncertainty about what will happen in the war with Iran. The S&P 500 jumped 1per cent and topped its prior all-time high set on Friday. The Dow Jones Industrial Average added 340 points, or 0.7per cent, and the Nasdaq composite set its own record after jumping 1.6per cent.

GE Vernova flew 13.7per cent higher after the company, whose products help generate about a quarter of the world's electricity, reported profit for the first three months of the year that blew past analysts' expectations. Like the broader stock market, GE Vernova is benefiting from the rise of artificial-intelligence technology, and its electrification business booked more equipment orders for data centers during the quarter, USD2.4 billion, than it did during all of last year. The company also raised its forecasts for revenue and other financial measures over the full year.