US Stocks March Towards Record High Amid Strong Corporate Profits

The US stock market is on track to break its all-time closing high after a strong showing early Tuesday. The S&P 500 climbed 0.5% and is poised to top its June record, while the Dow Jones Industrial Average jumped 788 points from its own record set the day before.

Palantir Technologies led the charge with an 18% gain after reporting a 93% revenue increase and raising its full-year revenue forecast. The company's success was part of a broader trend of big companies piling up profits, which helped push oil prices down.

The price of Brent crude fell 2.8%, while Treasury yields also decreased. Shares of ExxonMobil, ConocoPhillips, and Chevron all dropped around 1% in response to President Donald Trump's criticism of oil companies for making excessive profits during the Iran conflict.