Nasdaq Hits New Record as AI Sector Outperforms Dow Weakness
US stocks closed mixed on Tuesday with the Nasdaq Composite extending its record-setting streak, rising 0.5% to close at 27,244 for a second consecutive record high. The S&P 500 remained nearly flat while the Dow Jones Industrial Average fell by 185 points or 0.4%, closing at 51,864. Strength in AI-related stocks helped offset broader market weakness as investors adjusted portfolios ahead of year-end and focused on sector-specific themes. Falling oil prices eased inflation concerns slightly but did not fully counteract the drag from weaker industrial sectors. Market attention is now turning to Micron Technology's upcoming earnings report, which could provide insight into demand for AI-related hardware in the semiconductor industry.
Topics: AI Dow Jones Nasdaq oil prices S&P 500