AI-Driven Earnings Fuel Wall Street Rally to Record Highs

The S&P 500 and Dow Jones Industrial Average hit new record highs on Tuesday, driven by strong earnings from artificial intelligence-related companies.

Caterpillar shares surged 12% after raising its annual revenue growth outlook, benefiting from increased demand for power generation equipment and construction machinery tied to the expansion of AI data centers.

The Dow Jones Industrial Average rose about 647 points, or 1.22%, to 53,825.50, while the S&P 500 reached 7,644.56, marking its first record close since June.