The major indexes are taking it easy as small caps lead, a healthy mix. Apple is shifting toward AI.
The Dow Jones Industrial Average dropped nearly 100 points on the stock market today, but bitcoin gains managed to drive several cryptocurrency stocks higher. Meanwhile, Treasury Secretary Janet Yellen issued a warning ahead of a major inflation report as a partial government shutdown looms. Dow stocks dropped further below the 39,000 level Tuesday with a 0.3% loss, while the S&P 500 managed a 0.2% rise.
U.S. stocks closed near flat on Tuesday ahead of inflation and other economic data that could shed light on the possible timing of a Federal Reserve interest rate cut. Equities have been on a furious rally for weeks, fueled largely by enthusiasm about artificial intelligence-related stocks that lifted the S&P 500 and Dow Jones industrials to record levels while leaving the Nasdaq just short of a new high.