The US stock market is nearing new records, propelled by stronger-than-expected profits from major companies like Apple and Estee Lauder. Falling oil prices also contributed to the positive market movement, with the S&P 500 reaching an all-time high.

The US stock market is rising towards more records on Friday after Apple, Estee Lauder and other big companies became the latest to deliver fatter profits for the start of the year than analysts expected. Modest dips for oil prices also helped to steady the relatively few stock markets open worldwide on the May Day holiday. The S&P 500 rose 0.6 per cent and added to its all-time high set the day before. The Dow Jones Industrial Average was up 226 points, or 0.5 per cent, as of 9.35am Eastern...