US stocks hit record highs on AI boom, easing oil

The S&P 500 jumped 1.8% to a record close, while the Dow and Nasdaq also hit all-time highs, driven by strong AI-related profits and a drop in oil prices. Palantir surged 29.5% on better-than-expected earnings, and Caterpillar rose 5.6% on record revenue. Brent crude fell 5.3% to $79.36, easing concerns tied to the Iran conflict.