US stock market hits record highs as AI profits pile and oil prices ease

The US stock market reached record highs on Tuesday, driven by accumulating profits and easing oil prices. The S P 500 rose 1.8%, surpassing its previous all-time high. Simultaneously, the Dow Jones industrial average climbed 907 points, or 1.7%, to a new record, while the Nasdaq composite surged 2.6%. These gains extended to Asian shares, which rose alongside hopes for a Mideast deal as companies reported strong financial results across the board.