The US stock market has surged to record highs as the S&P 500 and Dow both hit unprecedented levels, buoyed by strong corporate earnings, particularly from AI-driven companies such as Palantir. Market optimism is further fueled by signs of a potential deal regarding the Strait of Hormuz, contributing to a notable drop in oil prices. The Dow experienced a dramatic leap of nearly 1,000 points at one point, marking one of the most significant rallies in recent history. Investors remain optimistic as talks of de-escalation with Iran continue to evolve, with both the S&P 500 and Dow enjoying historic closings.