Stocks Soar as Corporate Profits Reach New Heights

The US stock market surged to new records on Tuesday as corporate profits continued to soar and oil prices eased.

The S&P 500 jumped 1.8% to a fresh all-time high, while the Dow Jones Industrial Average added 907 points, or 1.7%, to its own record set the day before.

Caterpillar led the way among stocks, climbing 5.6% after reporting stronger profit and revenue than expected for the spring quarter.

The AI boom is driving growth at companies like Caterpillar, with increased orders for turbines used to power data centers contributing to its success.