US Stocks Rally to New Records Amid Soaring Corporate Profits and Easing Oil Prices
The US stock market surged to new records on Tuesday as corporate profits continued to soar. Despite concerns over high inflation, the ongoing war in Iran, and worries about a potential bubble in artificial-intelligence technology, stocks pushed higher. The S&P 500 rose 1.8%, with the Dow Jones Industrial Average adding 907 points to its own record set just yesterday.
Palantir Technologies led the way, surging 29.5% after reporting a 93% jump in revenue and raising its forecast for the full year of 2026. Caterpillar also climbed 5.6%, with CEO Joe Creed citing strong order rates and a growing backlog across its main businesses.
The oil price drop helped ease Wall Street's worries about inflation, with Brent crude sinking 5.3% to $79.36 per barrel. Analysts warn that more swings could be ahead, but the latest decline in oil prices relaxed pressure on the overall economy and on stock prices.