US Stocks Reach New Records Amid Earnings Boom and Slumping Oil Prices

The US stock market set new records on Tuesday as companies reported strong earnings and volatility eased around oil prices. The S&P 500 rose 1.8% to a new all-time high, while the Dow Jones Industrial Average added more than 900 points to its own record set the day before.

Despite concerns about inflation, the war in Iran, and potential bubbles in stock prices due to AI technology euphoria, Wall Street reached a new peak. Profits are soaring for companies, which tends to follow corporate earnings over the long term.

Palantir Technologies led the way with a 29.5% surge after CEO Alex Karp announced its overall revenue leaped 93%, calling it an 'otherworldly' quarter. The AI company also raised its revenue forecast for the full year of 2026.