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- The S&P 500 is riding one of its best years since 1927, thanks to the AI hype.
- It's only been 10 times since the 1920s that the benchmark index has performed so well, market veteran Jim Bianco said.
- Stocks have enjoyed an impressive rally since early 2023 as investors feel optimistic about the tech sector.
The S&P 500 is enjoying one of its best years since as long back as 1927 based on January-July returns, thanks to the market buzz around artificial intelligence.
"Stocks continue one of their best years on record. With price-only S&P 500 data going back to 1927, this year ranks as the tenth best through July 31,"40-year market veteran Jim Bianco said in a tweet.