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The S&P 500 climbed to a new intraday record, with megacap tech stocks—the so-called 'Magnificent Seven'—leading a rebound after trading sideways for much of the past year. Easing oil prices and Treasury yields helped stocks shake off months of market shocks tied to geopolitical tension and inflation worries. Jim Cramer highlighted established tech giants with diversified AI exposure as among the best ways for investors to play the ongoing AI boom. The rally underscores how heavily the market's gains remain concentrated in a handful of large tech names, even as broader risks—from Middle East oil supply threats to elevated bond yields—persist in the background.