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Commodities

US Stocks Rally Towards Record High as Profits Soar and Oil Prices Ease

Guavy AI Editorial Team
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Oil
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The US stock market is rallying towards a record high on Tuesday as companies continue to report strong profits and oil prices ease.

The S&P 500 climbed 1.2% and is poised to surpass its all-time high set a couple of months ago, while the Dow Jones Industrial Average added 767 points, or 1.4%, to its own record.

Caterpillar led the way, jumping 5.7% after reporting stronger profit and revenue than analysts expected for the spring quarter, with CEO Joe Creed citing strong order rates and a growing backlog across its main businesses.

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