NEW YORK: Wall Street stocks mostly rose early Tuesday as Nvidia and some other artificial intelligence stocks were back in positive territory after a recent pullback.
Adam Sarhan of 50 Park Investments said some losses are inevitable after the huge gains in some AI names these year, but demand remains “exceptionally strong.”
“Whenever you have an environment where the market was extended and so strong, and the market refuses to pull back in a meaningful fashion, that shows you that demand remains robust,” he said.
US stocks flat ahead of inflation data, presidential debate
About 15 minutes into trading, the Dow Jones Industrial Average was down 0.2 percent at 39,340.43.
The broad-based S&P 500 added 0.2 percent at 5,458.12, while the tech-rich Nasdaq Composite Index rose 0.5 percent to 17,591.24.
Among individual companies, Carnival surged 6.5 percent as it lifted its full-year forecasts on strong demand and described 2025 bookings as “even higher” than 2024.
Tesla rose 0.4 percent despite experiencing another recall of the Cybertruck, Elon Musk’s answer to the American pickup truck.
Excessive electrical current can cause the front windshield wiper motor controller to fail, according to a US report on the recall.
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