NEW YORK — U.S. stocks are wandering around their record levels on Tuesday as Wall Street looks to be headed for another peaceful day of trading.
The S&P 500 was primarily thesame in afternoon trading and hovering around its record set last week. The Dow Jones Industrial Average was up 11 points, or less than 0.1%, as of 12: 59 p.m. Eastern time. The Nasdaq composite fell 0.1% a day after setting its newest all-time high.
Indexes have climbedup to records mostly on expectations for the Federal Reserve to cut interest rates lateron this year as inflation ideally cools. More reports revealing huge U.S. business earning fatter earnings than anticipated have likewise increased the market.
Zoom Video Communications included 0.6% after it signedupwith the chorus line of business providing a morepowerful earnings for the newest quarter than experts anticipated.
Lam Research was likewise assisting to assistance the market after the provider for the semiconductor market revealed a program to buy back up to $10 billion of its own stock. The business likewise stated it will gothrough a 10-for-one stock split, which would bring down each share’s rate and make it more economical to more financiers. Its stock increased 2.1%.
They assisted to balancedout a 2.6% drop for Palo Alto Networks. The cybersecurity business provided a muchbetter revenue report than anticipated, however it offered a anticipated variety for profits in the existing quarter whose midpoint was a hair listedbelow experts’ expectations.
Trump Media & Technology Group, the business behind Donald Trump’s Truth Social network, sank 9.8% after revealing a internet loss of $327.6 million in its veryfirst quarterly report as a openly traded business.
Lowe’s fell 2.8% inspiteof reporting muchbetter results for the mostcurrent quarter than experts had feared. It stated it’s keeping its projection for