Stock market today: Dow Jones Industrial Average inches up to another record high in mixed trading
The Dow Jones Industrial Average inched up to another record high on a mixed day of trading for Wall Street
Wall Street notched another record high Tuesday, even as major stock indexes barely budged after a listless day of trading.
The Dow Jones Industrial Average rose 9 points, or less than 0.1%, which was good enough for its second all-time high in two days. The index is on an eight-day winning streak.
The benchmark S&P 500 and Nasdaq composite each finished 0.2% higher after drifting between small gains and losses most of the day. The benchmark S&P 500 is now within 0.8% of its record high set last month.
Slightly more stocks closed lower than those that posted gains on the New York Stock Exchange, reflecting the choppy bout of trading so far this week. Stock indexes posted a mixed finish on Monday.
The S&P 500 and Dow have been hovering around all-time highs since last week amid expectations among investors that the Federal Reserve will soon cut interest rates.
Wall Street has also had its eye on company earnings reports for clues about the state of the economy, the health of consumers and to gauge whether stock valuations for big tech growth companies like Nvidia have become overblown relative to companies’ prospects for future growth.
“That’s the major question, and I think all eyes will be on Nvidia as they report this week,” said Bill Merz, head of capital markets research at U.S. Bank Wealth Management. “That’s kind of the elephant in the room, so to speak, that many investors will focus on.”
The semiconductor company, with a total market value topping $3 trillion, reports its latest results on Wednesday. It rose 1.5% on Tuesday. Wall Street’s mania around artificial intelligence has helped propel a 159% gain
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