EconomyDow and S&P 500 close at records on AI earnings and hopes for Mideast deal

The Dow and S&P 500 ended the session at record closing levels. Results from AI-related companies, including Caterpillar and Palantir, helped calm concerns about demand. The market also responded to hopes that a deal could be reached in the Iran war. Those expectations coincided with declines in crude oil prices and Treasury yields. The gains reflected both corporate earnings and optimism about developments in the Middle East.