US Stock Markets Today: S&P 500, Dow Jones Hits New Record High

S&P 500 and Dow Jones Industrial Average reached new highs on Tuesday while Nasdaq Composite were flat at opening bell as investors look at the risks of multiple record highs.

Minutes into the trade, the Dow Jones Industrial Average rose 113 points or 0.2% to hit a fresh all-time high, S&P 500 also rose over 0.05% to hit fresh high while Nasdaq fell 0.3%. The broad market index during hovered near the flat line however it had already reached a new all-time intraday high earlier in the session.

On Monday, S&P 500, Dow and Nasdaq had closed at all-time highs marking a three-day winning streak. The gains were accelerated in the second half of the previous session after Nvidia shares rose 4%. This was after the company announced that it would invest $100 billion in OpenAI to build data centers.

Traders are also awaiting fresh Fed signals ahead of Chair Jerome Powell's speech on Tuesday. This will be his first public remark since official rate cuts last week.

“Fedspeak this week will highlight the wide dispersion of views on the Committee,” Oscar Munoz at TD Securities told Bloomberg. “We do not expect Powell to change his tone from his FOMC press conference.”

In the early minutes of trading, four of the 11 sectoral indices were trading in red. Information technology and consumer discretionary were in the red while energy sector was in green.

Intel Corp., Boeing Inc. and Walt Disney Co. were amongst the gainers for the day. Oracle Inc., Amazon.com Inc. Nvidia Corp. was down nearly 2%.

As the US market opened, spot gold rose 0.9% to $3,781.52 an ounce. Crude oil prices rose, with the West Texas trading 1.3% higher at $63.11 per barrel.

The Bloomberg Dollar Index was little changed, with the British Pound flat at $1.13524 and the Japanese yen at 147.77 per dollar.

Bitcoin, the largest traded cryptocurrency was flat at $112,960.78.