How major US stock indexes fared Tuesday, 7/18/2023

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%.