Wall Street Surges to Records Amid Soaring Corporate Profits

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

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

Palantir Technologies led the charge with a 29.5% surge after reporting a 93% increase in revenue and raising its full-year forecast.

Caterpillar also climbed 5.6% after posting stronger profit and revenue than expected, driven by increased orders for turbines used to power data centers.