Major U.S. Stock Indexes Mixed; Nasdaq Hits Intraday High as Tech Stocks Rally
On Tuesday, major U.S. stock indexes showed mixed performance with the tech-heavy Nasdaq Composite reaching an intraday high due to continued strength in technology stocks. The blue-chip Dow Jones Industrial Average declined by 0.5%, driven down by falling financial shares such as JPMorgan Chase and Visa. Meanwhile, the S&P 500 remained nearly flat after strong gains on Monday when all three major indexes surged significantly. Meta Platforms saw a modest rise following an impressive 11% gain in the previous session due to its new AI agent Muse becoming top of Apple's App Store. Chipmakers and other artificial intelligence-related companies led market advances, with shares like Advanced Micro Devices hitting record highs after rising over 10%. The broader semiconductor ETFs also saw gains. The U.S.-China diplomatic meeting on Thursday is expected to include discussions about AI developments. Treasury yields edged up slightly while oil prices fell due to optimism around a potential resolution in the U.S.-Iran situation.
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Topics: Dow Jones Industrial Average Nasdaq Composite S&P 500 stock market tech stocks