Wall Street rallies to records, pushing S&P 500 up 1.8%, as profits pile up and oil prices ease

The U.S. stock market surged toward records as corporate profits soared and oil prices declined. The S&P 500 rose 1.9%, the Dow Jones Industrial Average gained 1.9%, and the Nasdaq Composite climbed 2.6%, driven by strong earnings from companies like Palantir Technologies and Caterpillar, alongside easing inflation concerns from falling oil prices.