US Stocks Inch Higher
US stock indices were muted on Tuesday, holding yesterday's gains with support from lower energy prices and optimism on revenues from AI agents. The S&P 500 and Dow inched higher to hover less than 0.5% away from record highs touched last month, and the Dow booked small gains. Stocks were broadly higher as oil and fuel prices softened for a fifth session following signs that Iran, the GCC, and the US could chase diplomacy to restore some oil trade in the Persian Gulf, trimming the surge in bond yields this month. AI hyperscalers, which have issued record levels of corporate debt despite high borrowing costs, were higher with Microsoft, Oracle, and Alphabet adding 1%. Banks and industrials also gained. In turn, chip producers held most of their surge yesterday, buoyed by positive responses from Meta's Muse AI agent. AMD, Micron, and Intel were flat.
US stock indices were muted on Tuesday, holding yesterday's gains with support from lower energy prices and optimism on revenues from AI agents. 5% away from record highs touched last month, and the Dow booked small gains. Stocks were broadly higher as oil and fuel prices softened for a fifth session following signs that Iran, the GCC, and the US could chase diplomacy to restore some oil trade in the Persian Gulf, trimming the surge in bond yields this month. AI hyperscalers, which have issued record levels of corporate debt despite high borrowing costs, were higher with Microsoft, Oracle, and Alphabet adding 1%.
Banks and industrials also gained. In turn, chip producers held most of their surge yesterday, buoyed by positive responses from Meta's Muse AI agent. AMD, Micron, and Intel were flat.