In case you haven't noticed, the bulls are, once again, in full control on Wall Street. Although the 30-component Dow Jones Industrial Average has generated a modest 7% year-to-date return, through the closing bell on July 28, the benchmark S 500 and growth-driven Nasdaq Composite have been practically unstoppable. The S 500 and Nasdaq closed out July 28 with scorching-hot year-to-date gains of 19.3% and 36.8%, respectively.

While a number of factors have played a role in the outperformance of the innovation-fueled Nasdaq, such as recessionary fears melting away, perhaps the most-prominent reason the Nasdaq is on fire is the exuberance surrounding artificial intelligence (AI) stocks.

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Source Fool.com