Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., Aug. 7, 2026.

The S&P 500 rose to a fresh all-time intraday high on Tuesday, boosted by gains in key technology names as well as declines in Treasury yields.

The broad market index was last up 0.7%, while the Dow Jones Industrial Average gained 277 points, or 0.5%. The Nasdaq Composite added 0.7% and had hit a new all-time high as well.

The moves higher were bolstered by a rise in chipmakers. Marvell Technology popped 6%, and Advanced Micro Devices gained 3%, as investors grew optimistic about the companies' outlooks. Others such as Broadcom traded up 4%.

"Everyone's like markets are up. AI is the place to be," said Stephen Kolano, chief investment officer at Integrated Partners. Investors are "looking through the inflation concerns right now, especially as it relates to oil, diesel, etc. It's like 'Okay, that's something that potentially gets resolved in the future.'"

Oil prices settled little changed on Tuesday. Brent crude traded less than 1% higher at around $100 per barrel. West Texas Intermediate futures rose less than 1% to roughly $89 a barrel.

Kolano also said that interest rates are "fundamentally kind of where they need to be." The benchmark 10-year Treasury note yield fell more than 4 basis points at 5.262%, while the 30-year bond yield declined more than 3 basis points to 5.631%. Both scaled to levels not seen since 2002 on Monday.

"People are looking for where might there be some source of contagion that starts to spread, but right now, it's all staying well contained and just being dominated by the momentum, the earnings growth, the the investment coming from artificial intelligence," he added.

Traders are now looking ahead to the Federal Reserve's minutes from its September meeting due Wednesday, which could shed some light on policymakers' move to raise rates.