US stocks jumped Tuesday morning, putting the S&P 500 on track for its first record high since June.

(Bloomberg) -- Stocks joined bonds higher as cooling tensions in the Middle East spurred a drop in oil prices, allaying worries about inflation.

US stocks are rallying to the edge of their all-time high on Monday after easing oil prices helped calm Wall Street’s worries that inflation could get even worse. The S&P 500…