US Stocks Surge Toward Record on Strong Profits, Easing Oil Prices

The US stock market is rallying toward a record on Tuesday as companies continue to pile up profits and oil prices ease.

The S&P 500 climbed 1.7% and is on track to top its all-time high set a couple months ago, while the Dow Jones Industrial Average added 966 points, or 1.8%, to its own record set the day before.

Caterpillar led the way with a 6.5% gain after reporting stronger profit and revenue than analysts expected, marking the first time it made over $20 billion in sales and revenue in a quarter.

The AI boom is also benefiting Caterpillar through increased orders for turbines used to power data centers.