US Stocks Close Mixed Amid Yields Rebound

US stock indices closed mixed on Tuesday as the rebound in Treasury yields limited gains from chipmakers. The S&P 500 closed flat, and the Nasdaq 100 rose 0.8% to a record 30,732, while the Dow added 185 points. Another strong session for the AI trade lifted AI infrastructure companies, with the latest catalyst being the strong reception for Meta’s Muse AI agent. Meanwhile, Anthropic is releasing a new AI model designed to handle a wide range of business tasks at a lower cost, ahead of its highly anticipated Wall Street debut. Heavyweight chipmakers lifted the Nasdaq, with Nvidia up 0.7%, Micron rising 5%, and Sandisk jumping 6.8% following an upgrade from Rosenblatt. The S&P 500 pared earlier losses after President Trump said US officials had a “very good” meeting with Iranian representatives. Manufacturer stocks gained, with Applied Materials up 1.8%. Meanwhile, a selloff in bank shares weighed on the Dow, with JPMorgan falling 3.4% and Bank of America dropping 3%.