US stocks hit fresh records on Tuesday as the Dow closed above 54,000 for the first time and the S&P 500 reached an all-time high, but the rally reviving millions of 401(k) balances rests on a handful of AI stocks.
The Dow Jones Industrial Average jumped about 907 points, or 1.71%, to finish at 54,086, its fourth straight gain and biggest single-session gain since June. The S&P 500 rose 1.79% to 7,737, its first record in two months, while the Nasdaq Composite climbed 2.59% and pushed back above 26,000.
