US stocks were muted on Tuesday after confidence in artificial intelligence and falling oil prices spurred a rally on Wall Street.
The Nasdaq Composite rose 0.4% after the tech-heavy index touched a record high the day before. The S&P 500 added 0.1% while the Dow Jones Industrial Average was little changed.
Stocks kicked off the week with strong gains as US and Chinese officials wrapped up talks ahead of a capstone meeting between President Trump and Chinese leader Xi Jinping. Treasury Secretary Scott Bessent called the preliminary talks “very successful,” lifting hopes of cooperation on artificial intelligence.Oil prices fell on Tuesday amid reports that Iran may reopen the Strait of Hormuz within seven days if the US takes steps to ease military pressure. Brent crude futures fell over 2%, while WTI dropped nearly 3%.
Meta shares, which popped 11% on Monday and continued to rise Tuesday, lifted the “Magnificent Seven” stocks after the company’s Muse AI agent app hit the top spot in the App Store, sending a bullish signal about chip demand.
Yahoo Finance
