QQQ•QQQ•Here is a snapshot of where markets stood shortly after 4 p.m. EDT.
The Nasdaq Composite .IXIC climbed to its 22nd record close of the year on Tuesday, extending one of the market's defining themes: investors continue to reward AI winners even as elevated oil prices and Treasury yields create headwinds elsewhere.
Semiconductor stocks remained at the center of the action, with Micron Technology MU.O helping propel the Nasdaq and other growth-oriented indexes to fresh highs. Investor enthusiasm was also fueled by signs that Meta Platforms' META.O AI assistant is gaining traction, reinforcing the view that demand for AI-related products and services remains robust.
While the Nasdaq pushed higher, the broader S&P 500 .SPX ended virtually flat, finishing down 0.44% from its record close.
Beneath the surface, leadership remained concentrated in areas tied to growth and innovation. Chip stocks .SOX were among the strongest groups, while gold and silver miners .XAU, housing-related shares .HGX and biotech stocks .NBI also outperformed. At the other end of the spectrum, financials .SPSY lagged, with big banks .SPXBK among the market's weakest groups.
The list of record highs underscored where investors continue to place their bets. Alongside the Nasdaq Composite, fresh closing highs were posted by the Nasdaq 100 .NDX, NYSE FANG+ Index .NYFANG, S&P 500 Technology .SPLRCT and S&P 500 Growth Index .IGX.
Perhaps most notably, the technology sector notched its first record close since early June, underscoring how the AI trade continues to outweigh broader macro concerns.
