Earnings Strength and AI Spending Underpin Stocks as S&P 500 Reaches Fresh High
The S&P 500 posted a record closing high this week amid strong quarterly results, heavy AI-related capital spending by major cloud providers, and a partial reset in overheated AI names. With more than three quarters of companies having reported, second-quarter earnings are tracking to robust year-over-year growth, which along with moderated valuati…