India, Aug. 4 -- US stocks jumped on Tuesday morning, with the S&P 500 moving to a new intraday record as investors reacted to company earnings, changing views on artificial intelligence (AI) stocks and developments in the Middle East. The S&P 500 rose about 0.7% shortly after the opening bell and traded around 7,653 points, putting the index near its previous record levels.

The move came as investors looked for the S&P 500 to break above its previous record. A gain of at least 0.13% during the session would put the index above its previous closing record from June 2, according to CNN. The latest rise marks a major recovery for the S&P 500 after a difficult period for US stocks. The index had fallen almost 5% from its recent peak during ...