US Stocks Reach New Records as Profit Reports and Lower Oil Prices Boost Market
The US stock market continued its upward trend on Tuesday, August 4, 2026, as major indexes closed at record highs. The rally was driven by companies' strong profit reports and a decline in oil prices. Palantir Technologies and Caterpillar led the way among stocks that beat earnings expectations.
The S&P 500 index rose 1.8% to 7,736.52, surpassing its previous all-time high set in June. The Dow Jones Industrial Average also reached a new record, increasing by 1.7% to 54,085.88. Meanwhile, the Nasdaq composite jumped 2.6% to 26,584.99.
The easing of oil prices and Treasury yields contributed to the market's positive sentiment. Brent crude fell below $80 per barrel, which helped to boost investor confidence. The strong earnings reports from Palantir Technologies and Caterpillar also fueled the rally.