US Stocks Soar as Palantir Surges and Oil Prices Plummet

The US stock markets continued their winning streak on Tuesday, reaching new highs as Palantir Technologies and Caterpillar delivered strong quarterly results.

The Dow Jones Industrial Average and S&P 500 broke records, with the Dow soaring 705.43 points or 1.33% to 53,883.84 and the S&P 500 gaining 45.18 points or 0.59% to 7,645.68.

Palanitir Technologies led the charge, with its shares surging 20.11% following a 93% year-over-year increase in revenue to $1.94 billion and adjusted earnings per share of $0.41, exceeding analyst expectations.