Dow soars 900 points on strong corporate earnings and hopes of Iran deal

TL;DR

The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all reached record highs.
Strong second-quarter earnings from companies like Caterpillar and Palantir Technologies contributed to the market rally.
Treasury Secretary Scott Bessent indicated a deal to reopen the Strait of Hormuz could be reached soon.
Investors are hopeful that an end to the Iran war will lower energy prices and inflation.
The Job Openings and Labor Turnover Survey (JOLTS) showed solid U.S. hiring and modest layoffs.
Palantir Technologies shares surged after reporting strong revenue growth and raising its full-year forecast.
Caterpillar also performed well, reporting higher-than-forecast profit and revenue, with record sales and revenue in a quarter.
Oil prices dropped as hope of a deal in the Middle East increased.

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