S&P 500 hits intraday record high as AI rally continues
SPY•The S&P 500 briefly rose 0.6% to 7,817.13 on Tuesday, surpassing its previous intraday record of 7,816.7 set on August 13. The Nasdaq was also at a record high.
1. Indexes reach records
The S&P 500 briefly hit an all-time high as optimism about AI and hopes for strong corporate earnings lifted technology stocks. At 9:31 a.m. ET, the S&P 500 was up 0.48% at 7,811.72, the Nasdaq Composite gained 0.59% to 27,639.89 and the Dow rose 0.32% to 51,432.35.
2. Market drivers
Most megacap and growth stocks ticked higher as government bond yields retreated from multi-year highs and oil prices fell. The article said optimism around AI and earnings had helped lift US stocks despite higher energy prices and a volatile summer for bond markets.
