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US STOCKS EDGE UP WITH TECH; INDUSTRIALS HIT CLOSING RECORD
Major U.S. stock indexes ended with slight gains on Tuesday as technology shares rose and the S&P 500 industrials index .SPLRCI registered a record closing high.
Tech shares gained even as concern about artificial intelligence-driven disruptions continued, with the S&P 500 software index .SPLRCIS falling 1.6% on the day. Investors also digested Alibaba's unveiling on Monday of a new AI model, Qwen 3.5, designed to independently execute complex tasks.
The tech sector .SPLRCT was up 0.5% while industrials also ended 0.5% higher.
Energy shares fell with oil prices, while staples declined as General Mills GIS.N cut its annual core sales and profit forecasts and its shares dropped 7%. Energy .SPNY and consumer staples .SPLRCS were the biggest losers among S&P 500 .SPX sectors, each falling more than 1% on the day.
Oil fell as investors took in news on Iran and the United States. Iranian Foreign Minister Abbas Araqchi said that the two countries reached an understanding on Tuesday on the main "guiding principles" in talks aimed at resolving their longstanding nuclear dispute, but it does not mean a deal is imminent.
More news on earnings is expected this week, with top retailer Walmart WMT.O due to report results. Shares of Walmart ended 3.8% lower.
Here is the closing market snapshot:
(Caroline Valetkevitch)
EARLIER ON LIVE MARKETS:
WALMART EARNINGS COMING UP; OTHER RETAILERS STILL TO REPORT CLICK HERE
FOOD STAPLES LEFT WITH A SOUR TASTE AS GENERAL MILLS WEIGHS CLICK HERE
AI-BLAMED ROLLING CORRECTIONS WEIGH, BUT BULLS LOOK FOR A SECOND WIND CLICK HERE
TWO-FER TUESDAY: EMPIRE STATE, HOMEBUILDER SENTIMENT CLICK HERE
NASDAQ LEADS DECLINES ON WALL STREET AFTER LONG WEEKEND CLICK HERE
MEGA-CAPS MAY BE STUMBLING, BUT THE EQUAL-WEIGHTED S&P 500 IS RUMBLING CLICK HERE
BEWARE THE YEAR OF THE HORSE CLICK HERE
STOXX OFF TO STEADY START, CALM UNDER THE SURFACE CLICK HERE
BEFORE THE BELL: EUROPEAN FUTURES DIP CLICK HERE
QUIET MARKETS, LOUD DIPLOMACY: ALL EYES ON IRAN CLICK HERE