S&P 500 Hits 7,840 Record High as AI Bets Outrun 10-Year Consumer Gloom

The S&P 500 rose nearly 1% Tuesday to above 7,840 by midday, setting a fresh record high after last topping that level in August. AI spending optimism is driving the rally, with investors betting massive corporate outlays will translate into stronger profits even as the broader economy looks less…