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 S&P 500 rose 1.7 percent to a record high. 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 Palantir, whose second quarter results soared past even the most optimistic forecasts, were up by nearly 30 percent.