The S&P 500 surged 1.79% to close at 7,737 points, its first record high in two months. The S&P 500 and Dow are back at all-time highs while investors digest corporate earnings, reassess bets on artificial intelligence and monitor developments in the Middle East. All told, the S&P 500 was always relatively close to record highs this summer. That rotation helped keep the Dow near record highs while the Nasdaq struggled. The S&P 500 is up 13% this year, and the Nasdaq is up more than 14%.