US stocks: Dow, S&P 500 close at record highs as AI earnings impress, oil prices tumble

Stock markets soared to all-time highs on Tuesday, fueled by stellar earnings from corporations. AI-focused entities like Palantir and the esteemed Caterpillar delivered eye-popping results. The drop in oil prices and Treasury yields created a favorable backdrop for continued growth. Moreover, the possibility of a peaceful resolution in the Iran conflict greatly enhanced investor optimism. Overall, corporate earnings have been significantly exceeding forecasts this reporting period.