Highlights
Stocks ended narrowly mixed on Tuesday as bellicose language from President Trump weighed on risk appetite, offset in part by an extension of the AI trade and lower oil prices. The Dow Jones industrial average eased 0.4 percent while the S&P 500 was flat and the Nasdaq was up 0.5 percent. Bond yields and the dollar edged up.
Speaking at the United Nations, President Trump threatened to annihilate Iran, which limited risk appetite. At the same time, his threats have lost credibility, and Trump also said his aides had positive meetings with Iranian officials and he would be open to meeting Iran’s president this week in New York. For the AI trade, positive headlines from Anthropic and OpenAI spurred more gains, along with focus on the success of Meta’s Muse model.