US stocks surge toward records as earnings soar, oil eases

US stocks rallied Tuesday, with the S&P 500 climbing 1.7% and on track to top its all-time high as corporate profits soared and oil prices fell. Palantir jumped 29.3% after revenue surged 93%, while Caterpillar and McDonald's beat forecasts. Brent crude dropped 4.9% to $79.64 a barrel. The gains come despite inflation concerns, the Iran war, and AI bubble worries.