Stocks soared on Tuesday following strong earnings reports and remarks from U.S. Treasury Secretary Scott Bessent indicating the U.S. could soon reach a new peace deal with Iran.
The Dow Jones Industrial Average climbed over 1,000 points, or 1.87 percent. The Nasdaq Composite rose 2.3 percent. The S&P 500 rose 1.7 percent to a record high. The Russell 2000 small company index also rose 1.7 percent.
Shares of Caterpillar, which reported better-than-expected earnings, rose by nearly 20 percent before retreating to around a 10 percent gain, making it the best-performing Dow stock. Shares of Amazon were down two percent, the biggest Dow decliner.
“We are in talks with the Iranians...
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