U.S. stock markets achieved record highs on Thursday, with the S&P 500 climbing 1% to surpass its previous all-time high and the Dow Jones Industrial Average soaring 790 points (1.6%). This surge was fueled by strong corporate earnings, particularly from Alphabet, whose profits nearly doubled analysts' expectations, leading to a 10% increase in its stock price. Caterpillar also excelled, with its stock rising 9.9% after reporting better-than-expected profits. Meanwhile, oil prices remained volatile due to geopolitical tensions, particularly the ongoing conflict in Iran, which saw Brent crude peak at $119.50 before settling at $110.40 per barrel. The positive earnings reports helped sustain market momentum despite the uncertainty surrounding oil prices and the economy. European markets mirrored this trend, with major indexes like London's FTSE 100 and Germany's DAX also posting gains following stable interest rate decisions from central banks.