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 percent Tuesday to its highest finish since early April 2022. The Dow added 366 points, or 1.1 percent, and the Nasdaq composite climbed 0.8 percent.
Microsoft was the biggest force pushing the S&P 500 higher by far with a 4 percent 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 percent and Bank of America rose 4.4 percent.
On Tuesday:
The S&P 500 rose 32.19 points, or 0.7 percent, to 4,554.98.
The Dow Jones Industrial Average rose 366.58 points, or 1.1 percent, to 34,951.93.
The Nasdaq composite rose 108.69 points, or 0.8 percent, to 14,353.64.
The Russell 2000 index of smaller companies rose 24.80 points, or 1.3 percent, to 1,976.07.
For the week:
The S&P 500 is up 49.56 points, or 1.1 percent.
The Dow is up 442.90 points, or 1.3 percent.
The Nasdaq is up 239.94 points, or 1.7 percent.
The Russell 2000 is up 44.98 points, or 2.3 percent.
For the year:
The S&P 500 is up 715.48 points, or 18.6 percent.
The Dow is up 1,804.68 points, or 5.4 percent.
The Nasdaq is up 3,887.16 points, or 37.1 percent.
The Russell 2000 is up 214.82 points, or 12.2 percent.
