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Commodities

US Stocks Surge Towards Record High Amid Strong Profits and Low Oil Prices

Guavy AI Editorial Team
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Oil
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The US stock market is rising towards an all-time high as companies report strong profits and oil prices ease.

The S&P 500 briefly touched a 2% increase before pulling back to about 1.9%, while the Dow Jones Industrial Average added over 1,000 points to its record set yesterday.

Palantir Technologies led the way with a 30.2% jump after reporting a 93% revenue surge and raising its full-year revenue forecast.

Caterpillar also saw a 6.4% increase after beating analysts' expectations, making it the first time the company exceeded $20 billion in sales and revenue in a quarter.

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