Stock market today: Dow, S&P 500, Nasdaq waver after record-setting session

US stocks barely budged on Tuesday after a record-setting start to the week, as investors assessed a remarkable run-up in chip stocks in the first half of the year and the dollar’s growing strength.

The Dow Jones Industrial Average (^DJI) rose 0.1% after the blue-chip benchmark closed above 52,000 for the first time on Monday. The S&P 500 (^GSPC) and the tech-heavy Nasdaq Composite (^IXIC) also nudged about 0.1% higher after a rally in tech stocks fueled sharp gains.

Investors are heading into the last trading day of the second quarter and first half of 2026 buoyed by a Supreme Court ruling that left Federal Reserve independence intact, for now, and by the prospect of potential US-Iran peace talks in Qatar starting Tuesday.

At the same time, oil flows through the Strait of Hormuz are recovering faster than expected, prompting a shift from fears of crude shortages to warnings of a looming glut. Oil prices continued to fall, poised for a quarterly drop with Brent (BZ=F) futures trading at $74 a barrel and WTI futures (CL=F) above $71.

The relentless rise in the dollar was also worrying Wall Street, as it pushed the yen to a 40-year low, prompting talk of intervention by Japan. HSBC warned the greenback’s rally could become “explosive” if the Federal Reserve hints it’s prepared to tighten policy

A JOLTS reading on job openings in May due later Tuesday is likely to feed into bets on Fed interest rate hikes this year, as could a Conference Board update on consumer confidence. The labor data sets the stage for Thursday’s June jobs report.

On the corporate front, Nike (NKE) is expected to report its quarterly results on Tuesday, coming at a challenging time for the sportswear maker.