Wall Street drifts as Broadcom and other AI-related stocks help support the market

Wall Street traded mostly steady Tuesday as gains in AI-related stocks helped offset broader softness in the S&P 500. The S&P 500 rose 0.3% and moved to within 1.5% of its all-time high set earlier this month. The Dow Jones was down 9 points (less than 0.1%) by 9:35 a.m. Eastern, while the Nasdaq climbed 0.5%. Most S&P 500 members were lower, but strong moves from influential AI names provided support. Broadcom jumped 3.3% after announcing a $63 billion financing deal tied to Anthropic’s access to its XPU accelerators and networking. Nvidia rose 0.8%. CoreWeave gained 3.3%, General Motors rose 4% after its NYSE-to-Nasdaq plan, JetBlue climbed 11.5%, Royal Caribbean rose 7.5%, while Boeing fell 1.6%.