US stock market hits record highs as AI profits pile and oil prices ease
📰 source: theguardian_business · 💼 business
us stocks hit record highs on tuesday, with the s&p 500 up 1.8% to 7,736.52 and the dow adding 907 points to 54,085.88. the nasdaq jumped 2.6% to 26,584.99, also a record.
palantir led the charge, surging 29.5% after ceo alex karp said revenue leaped 93% in an 'otherworldly' quarter and raised its full-year 2026 forecast. caterpillar climbed 5.6% after posting its first quarter with over $20bn in sales, with ceo joe creed citing strong order rates and a growing backlog, helped by ai demand for turbines. s&p 500 companies are on track for nearly 50% earnings per share growth for the spring, the biggest since 2021, per factset.
oil prices eased as brent crude fell 5.3% to $79.36, and the 10-year treasury yield dropped to 4.62%. chip stocks like nvidia, broadcom, and micron also rallied, offsetting chipotle's 9.7% drop on salmonella concerns.
why it matters: record highs on strong ai earnings and easing oil signal resilient market, but bond yields and geopolitics still loom.
source: theguardian_business
sentiment: +0.80 · impact: 0.80