Falling oil prices propelled US equities to all-time highs, with Wall Street also receiving a boost from renewed enthusiasm in AI-related trading.

The AI boom has been a major driving force behind this bull market.

As of 9:33 New York time, the S&P 500 Index and the Nasdaq 100 Index were up 0.5%, while the Dow Jones Industrial Average climbed 0.4%.

The US stock rally extended into its fourth consecutive session, with the S&P 500 Index touching a record high for the first time in two months.

Nvidia's market capitalization approached $6 trillion. AMD CEO Lisa Su projected that chip demand will be "very high" in the coming years.

Brent crude fell to $98 per barrel, easing market concerns about inflation and pushing US Treasury yields slightly lower.

Despite rising risks from energy costs and interest rates, US equities have remained unexpectedly resilient, with market volatility staying at low levels.

Ulrike Hoffmann-Burchardi, Chief Investment Officer at UBS, said the US economy continues to support corporate revenue and profits. She stated: "We remain highly optimistic about AI growth prospects and believe AI-related investment remains a strong driver of the overall stock market. The favorable growth environment and solid corporate earnings suggest that profit growth is expected to expand from the technology sector to more sectors."

Kevin Brocks, Director at 22V Research, said: "As long as the incremental information we obtain in the coming weeks from corporate earnings reports and Anthropic's IPO filing regarding AI return on investment (ROI) remains positive, the risk to stock indices is minimal. Recent macroeconomic data shows that the risk of the economy falling into recession is very low, and the risk of the Federal Reserve further tightening financial conditions from current levels is also limited."