US stock market today: Why are Dow, S&P 500, and Nasdaq all rising? Wall Street hits record highs as UPS, Wayfair, and PayPal soar on strong earnings

U.S. stock market today surged to fresh record highs as strong earnings and rate-cut hopes fueled Wall Street’s rally. The Dow Jones rose 1%, S&P 500 gained 0.8%, and Nasdaq jumped 1.1%. UPS spiked 7%, Wayfair soared 21%, and PayPal surged 10% after posting better-than-expected results and announcing its new OpenAI partnership. Apple and Microsoft both crossed $4 trillion in market value. Investors are betting on another Fed rate cut this year as Trump-Xi trade optimism adds fresh momentum to the record-setting run.