US stocks leap toward a record as profits keep piling up and oil prices ease

NEW YORK (AP) — The U.S. stock market is rallying toward a record on Tuesday as companies keep piling up profits and oil prices ease.The S&P 500 climbed 1.5% and is on track to top its all-time high set a couple months ago. The Dow Jones Industrial Average added 893 points, or 1.7%, to its own record set the day before, while the Nasdaq composite was 2.1% higher, as of noon Eastern time.Despite worries about high inflation, the war in Iran and a possible bubble in stock prices because of euphoria around the boom in artificial-intelligence technology, Wall Street is nearing its latest apex in large part because profits are soaring for companies. That’s key because stock prices tend to follow the path of corporate earnings over the long term.Palantir Technologies helped lead the way and jumped 26.8% after CEO Alex Karp said its overall revenue leaped 93% in what he called an “otherworldly” quarter. Besides reporting a stronger profit for the spring than analysts expected, the AI company