US stocks advanced on Tuesday as technology shares tied to the artificial intelligence (AI) boom extended their recovery from last week’s sharp sell-off, while lower oil prices eased pressure on investors.The S&P 500 rose 0.6%, moving back within 2% of the record high it touched a week ago. The Dow Jones Industrial Average gained 291 points, or 0.6%, while the Nasdaq Composite climbed 0.8%, AP reported.Chipmakers and other AI-linked companies once again led the gains. Micron Technology rose 2.5%, adding to a 9.9% rally in the previous session after tumbling 13.3% on Friday. The stock has still tripled so far this year despite growing concerns that AI-related shares may have run up too far, too quickly.The rebound comes after last week’s broad technology-led sell-off, which pushed the S&P 500 to its biggest one-day decline since October and sparked debate over whether AI stocks are entering a prolonged correction or simply undergoing a healthy pullback.Investor sentiment also improved as oil prices retreated.Brent crude fell 2.4% to $92 a barrel after briefly climbing above $98 on Monday amid uncertainty over efforts to reopen the Strait of Hormuz and restore oil shipments from the Persian Gulf.The decline in crude prices boosted airline stocks, which have been hit by soaring fuel costs. United Airlines rose 2.7%, while Delta Air Lines gained 2.6%.Lower oil prices also helped ease pressure in bond markets. The yield on the benchmark 10-year US Treasury note slipped to 4.53% from 4.56% on Monday, though it remains well above the 3.97% level seen before the Iran conflict began.Investors are now awaiting key US inflation readings due later this week, including consumer price data on Wednesday and wholesale inflation figures on Thursday.With inflation remaining elevated and the labour market showing resilience, traders continue to expect the Federal Reserve to raise interest rates before the end of the year.Markets outside the US were largely positive. European stocks edged higher, while South Korea’s Kospi surged 8.2%, nearly recovering Monday’s 8.3% decline as technology stocks rebounded.
