(Reuters) -The S&P 500 and Nasdaq Composite hit all-time highs on Friday as megacap stocks surged on renewed AI enthusiasm and the prospect of a looser monetary policy, powering a recovery in U.S. stocks from months-long rout. The benchmark index rose 0.2% to 6,154.81 points, surpassing the previous peak of 6,147.43 on February 19, while the tech-heavy Nasdaq gained 0.3% to 20,229.31 points, exceeding its record high of 20,204.58 on December 16. Trump’s April 2 “reciprocal tariffs” on major trading partners and their chaotic rollout had put the S&P 500 within a striking distance of confirming a bear market when it ended down 19% from its February 19 record closing high.