Berkshire Hathaway rises as investors cheer strong earnings and Buffett's near-record cash stockpile

Insurance underwriting earnings recorded a 74% increase to $1.25 billion, benefitting from higher interest rates and lower catastrophe losses. The solid performance in insurance helped offset the softness in railroad due to lower volumes.

Elevated interest rates are now enabling Berkshire to earn a hefty return from its cash. The conglomerate held more than $97 billion in short term Treasury bills.that he's been buying $10 billion worth of 3-month or 6-month T-bills every Monday. Berkshire also reported a near $26 billion unrealized gain from its investments, and much of this gain came from its gigantic stake in. The tech giant fueled the market rally in the second quarter, climbing nearly 18%. Berkshire's Apple bet has ballooned to $177.6 billion.

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