S&P 500 hits record high as AI earnings lift Wall Street
What's new: The Dow also reached an intraday record, while Caterpillar and Palantir added to recent AI-driven optimism from Amazon and Microsoft.
The S&P 500 climbed to its first intraday record high since early June on Tuesday, extending a Wall Street rally fueled by stronger-than-expected AI-linked earnings and hopes for a deal to ease Middle East tensions. The Dow Jones Industrial Average also touched a fresh intraday high, while the Nasdaq Composite opened sharply higher. At the opening bell, the Dow rose 462.8 points, or 0.87%, to 53,641.21. The S&P 500 gained 30.1 points, or 0.4%, to 7,630.62, and the Nasdaq added 174.1 points, or 0.67%, to 26,088.04. Recent gains have been driven by upbeat forecasts tied to artificial intelligence from Caterpillar and Palantir, building on investor confidence after earnings from Amazon and Microsoft.