Wall Street holds near its record heights

NEW YORK (AP) — U.S. stock indexes are holding near their record heights on Tuesday as Wall Street takes a moment following a relentless rally.

The S&P 500 was virtually unchanged in early trading. The Dow Jones Industrial Average was up 146 points, or 0.3%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.1% lower. All three indexes are coming off their latest all-time highs set the day before.

Nvidia weighed on the market after giving back some of its big gain from the day before, when it announced a partnership with OpenAI to build out data centers. It gave back 1.3%.

But a 1.8% rise for Boeing helped support the market after the aerospace company said Uzbekistan Airways agreed to buy 14 of its Dreamliner airplanes and may add eight more to the order.

Kevnue jumped 5.6% and recovered much of its drop from Monday, when it had fallen on worries that President Donald Trump would say its Tylenol product may increase the risk of autism in children. Trump did warn pregnant women about using Tylenol, but he did not seem to cite any significant new research to back it up. Kenvue has disputed any link between the drug and autism.

Fed Chair Jerome Powell will speak later in the afternoon and give his first public remarks since the Fed cut its main interest rate last week for the first time this year. At the time, he said many Fed officials had penciled in more cuts to rates through the end of this year and into next. But he also cautioned that conditions may change quickly.

The Fed is wary because lower rates can give inflation more fuel, and inflation has stubbornly remained above its 2% target. An update on Friday will show how much prices are rising for U.S. households based on the Fed’s preferred measure of inflation, and economists expect it to show a slight acceleration for last month.

In the bond market, Treasury yields ticked lower. The yield on the 10-year Treasury eased to 4.13% from 4.15% late Monday.

In stock markets abroad, indexes rose in Europe following a mixed finish in Asia.

France’s CAC 40 rose 0.9%, and Hong Kong’s Hang Seng fell 0.7% for two of the bigger moves. Japan’s stock market was closed for a national holiday.

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