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- The S&P 500 has erased nearly all its losses from a hellish 2022 this year.
- It now trades just 260 points below its previous all-time high.
- Cooling inflation and the rise of AI have fueled the benchmark index's latest rally.
US stocks have reached a level that might have seemed unthinkable during the lows of last year's bear market.
In the space of just nine months, the benchmark S&P 500 index has erased nearly all its losses from a hellish 2022.