US stocks rise toward all-time high

A $12 drop in oil prices is sending US stocks toward an all-time high. The S&P 500 added 0.8% and the Dow Jones Industrial Average was up 265 points, or 0.5%, as of 11 a.m. Eastern time. The price of Brent crude oil, the international standard, dropped 2% to $98.30 per barrel, down from nearly $110 a few weeks ago. This easing removes some pressure from the high inflation that's squeezing people and businesses worldwide. Constellation Energy jumped 13% after announcing a long-term deal to supply Google with electricity. Option Care Health soared 32.7% after CD&R and McKesson said they're buying the provider of infusion services for $5.8 billion. Profits for companies have remained remarkably strong, with Lamb Weston's profit and revenue topping projections. CEO Mike Smith said the company continues to deal with unexpected increases in freight and other expenses, but raised its forecast for an underlying measure of profit. This rally in US stocks is good news for investors and businesses, as it shows the economy is still growing despite high inflation and expensive oil.