U.S. stocks closed at a new record high on Tuesday, continuing a rally fueled by investor optimism about artificial intelligence and expectations of more accommodative monetary policy from the Federal Reserve.

The S&P 500 Index ended up 0.6%, surpassing theclosinghigh reached at the end of December. The technology-heavy Nasdaq 100 Index rose 0.9%, while the Russell 2000, which focuses on small-cap companies, posted a gain of 1.4%.

Stock investors have largely ignored tensions in Venezuela to extend a three-year bull run fueled by demand for AI-related stocks. A weaker-than-expectedmarket. The US services PMI reading reported on Tuesday reinforced hopes for a rate cut, with business activity and labormarketdata expected later this week.

Venezuelan bonds had another volatile and positive session. They rose as high as 1.75 points at their peak at the end of the morning, seeing more selling in the afternoon and buyers pulling back, ending up between 0.50 and 1 point higher on the day.

Latin American credits flat for the day. Little variation.