economy
US Stock Market Hits Record Highs as AI Profits Pile and Oil Prices Ease
S&P 500 shot up 1.8% and the main measure of Wall Street’s health topped its prior all-time high set a few months ago
TL;DR
- The S&P 500 and Dow Jones industrial average reached record highs on Tuesday.
- Stronger-than-expected profits from companies like Palantir Technologies and Caterpillar boosted the market.
- AI companies, including Nvidia, Broadcom, and Micron Technology, saw significant gains.
- A decline in oil prices also contributed to the market's upward movement.
- S&P 500 companies were on track to deliver nearly 50% earnings per share growth for the spring quarter.