US stocks surge as oil prices fall, easing Middle East conflict concerns and boosting economic outlook.

US stocks nearly hit all-time highs on Tuesday as oil prices dropped due to hopes that the conflict between Israel and Iran wouldn't disrupt oil supply. The S&P 500 climbed 1.1%, the Dow Jones rose 1.2%, and the Nasdaq gained 1.4%. Lower oil prices could give the Federal Reserve room to cut interest rates, potentially boosting the economy by lowering borrowing costs, though it could also fuel inflation.