NEW YORK - The S&P 500 and the Nasdaq gained ground on May 13 with a boost from artificial intelligence-related tech shares, which helped markets look past hotter-than-expected inflation data and the growing probability that the Federal Reserve will hold to its restrictive monetary policy for the foreseeable future.The S&P 500 and the Nasdaq reversed earlier declines to notch fresh record closing highs, as chip stocks rebounded from May 12’s decline.Six of the Magnificent Seven group of AI-related megacaps gained between 1.4 per cent and 3.9 per cent.“In the face of continued hot inflation data, technology remains resilient,” said Mr...