Rebounding AI stocks send the S&P 500 within 1% of its record

NEW YORK (AP) — A rebound for AI stocks lifted the U.S. market on Monday.

The S&P 500 rose 0.7% and pulled back within 1% of its all-time high, even though the majority of stocks within the index fell. The strength for companies in the artificial-intelligence technology industry sent the Nasdaq composite 1.1% higher, and the Dow Jones Industrial Average rose 155 points, or 0.3%, to a record.