The S&P 500 and the Dow hit record highs on Tuesday after strong forecasts from Caterpillar and Palantir reassured investors about AI-driven demand, while hopes for an imminent deal to end the Middle East conflict sent crude prices lower.
Palantir Technologies gained 17.4% after raising its annual revenue forecast again, while chipmaker On Semiconductor added around 1% after forecasting quarterly revenue above expectations.
