Wall Street’s growing frenzy around artificial intelligence pushed stocks to their best level in more than 15 months.
The S&P 500 rose 0.7% Tuesday to its highest finish since early April 2022. The Dow added 366 points, or 1.1%, and the Nasdaq composite climbed 0.8%.
Microsoft was the biggest force pushing the S&P 500 higher by far with a 4% gain after announcing the pricing for some artificial-intelligence services. Financial industry stocks also drove the market higher after reporting stronger profits for the spring than expected. Charles Schwab rallied 12.6% and Bank of America rose 4.4%.
On Tuesday:
The S&P 500 rose 32.19 points, or 0.7%, to 4,554.98.
The Dow Jones Industrial Average rose 366.58 points, or 1.1%, to 34,951.93.
The Nasdaq composite rose 108.69 points, or 0.8%, to 14,353.64.
The Russell 2000 index of smaller companies rose 24.80 points, or 1.3%, to 1,976.07.
For the week:
The S&P 500 is up 49.56 points, or 1.1%.
The Dow is up 442.90 points, or 1.3%.
The Nasdaq is up 239.94 points, or 1.7%.
The Russell 2000 is up 44.98 points, or 2.3%.
For the year:
The S&P 500 is up 715.48 points, or 18.6%.
The Dow is up 1,804.68 points, or 5.4%.
The Nasdaq is up 3,887.16 points, or 37.1%.
The Russell 2000 is up 214.82 points, or 12.2%.
Sourse: abcnews.go.com
