U.S. stocks rallied as voters headed to the polls on the last day of the presidential election and as more data piled up to show the economy remains solid.

The S&P 500 rose 1.2 percent Tuesday and moved closer to its record set last month. The Dow Jones Industrial Average added 1 percent, and the Nasdaq composite gained 1.4 percent.

Excitement about the artificial-intelligence boom helped lift Wall Street following a strong profit report from Palantir Technologies. So did a report showing growth accelerated last month for U.S. services businesses, beating economists’ expectations for a slowdown.

On Tuesday:

The S&P 500 rose 70.07 points, or 1.2 percent, to 5,782.76.

The Dow Jones Industrial Average rose 427.28 points, or 1 percent, to 42,221.88.

The Nasdaq composite rose 259.19 points, or 1.4 percent, to 18,439.17.

The Russell 2000 index of smaller companies rose 41.81 points, or 1.9 percent, to 2,260.84.

For the week:

The S&P 500 is up 53.96 points, or 0.9 percent.

The Dow is up 169.69 points, or 0.4 percent.

The Nasdaq is up 199.25 points, or 1.1 percent.

The Russell 2000 is up 50.71 points, or 2.3 percent.

For the year:

The S&P 500 is up 1,012.93 points, or 21.2 percent.

The Dow is up 4,532.34 points, or 12 percent.

The Nasdaq is up 3,427.82 points, or 22.8 percent.

The Russell 2000 is up 233.77 points, or 11.5 percent.

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