The S&P 500 rose 0.6% and was on track to top its all-time high set two weeks ago. The Dow Jones Industrial Average was up 251 points, or 0.6%, as of 9:35 a.m. Eastern time, while the Nasdaq composite was 0.7% higher and also heading toward a record.

Wall Street has its eyes set on the AI trade, which has led the market. Data analytics firm Palantir ( PLTR) saw its market cap balloon past $420 billion this week after posting a boom in revenue and contracts.

The U.S. stock market is climbing toward records after data showed inflation across the country was a touch better last month than economists expected. The S&P 500 rose 0.5% in