NEW YORK: Wall Street stocks were mixed early Tuesday, as concerns about disruption from artificial intelligence continued to weigh on markets after a long weekend.
The Dow Jones Industrial Average inched up 0.1 percent to 49,536.63, while the broad-based S&P 500 Index was near-flat at 6,838.84.
The tech-focused Nasdaq Composite Index ticked down 0.1 percent to 22,532.05.
Among individual companies, shares in Meta were flat, too, while those of Nvidia fell 0.1 percent. Palantir Technologies fell 0.3 percent.
“The rut in the technology and AI stocks is continuing” this morning, said Peter Cardillo of Spartan Capital Securities.
READ MORE: Wall Street Week Ahead: Walmart, economic data await investors confronting AI ‘whack-a-mole’
He added that the market has been growing conscious of AI-related spending in recent times.
“Investors are beginning to question: How long is it going to take for this spending to mature?” he asked.
“When you have an excessive amount of momentum in one sector, usually this is what happens,” said Cardillo. “Negative market sentiment is going to have to run its course.”
Meanwhile, shares in Warner Bros. Discovery jumped 2.8 percent after it said Tuesday that it reopened talks with Paramount Skydance on its buyout offer, giving the company a week to beat out a rival Netflix bid.
NEW YORK: Wall Street stocks were mixed early Tuesday, as concerns about disruption from artificial intelligence continued to weigh on markets after a long weekend.
The Dow Jones Industrial Average inched up 0.1 percent to 49,536.63, while the broad-based S&P 500 Index was near-flat at 6,838.84.
The tech-focused Nasdaq Composite Index ticked down 0.1 percent to 22,532.05.
Among individual companies, shares in Meta were flat, too, while those of Nvidia fell 0.1 percent. Palantir Technologies fell 0.3 percent.
“The rut in the technology and AI stocks is continuing” this morning, said Peter Cardillo of Spartan Capital Securities.
READ MORE: Wall Street Week Ahead: Walmart, economic data await investors confronting AI ‘whack-a-mole’
He added that the market has been growing conscious of AI-related spending in recent times.
“Investors are beginning to question: How long is it going to take for this spending to mature?” he asked.
“When you have an excessive amount of momentum in one sector, usually this is what happens,” said Cardillo. “Negative market sentiment is going to have to run its course.”
Meanwhile, shares in Warner Bros. Discovery jumped 2.8 percent after it said Tuesday that it reopened talks with Paramount Skydance on its buyout offer, giving the company a week to beat out a rival Netflix bid.
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