The S&P 500 (^GSPC 1.28%) rose 0.10% to 6,843.22, the Nasdaq Composite (^IXIC 1.55%) added 0.14% to 22,578.38, and the Dow Jones Industrial Average (^DJI 1.40%) inched up 0.07% to 49,533.19 in a volatile, AI-jittery session.
Market movers
AI spending angst and competitive fears pressured growth names, even with Amazon (AMZN 1.47%) ending its historic slide. Snowflake (SNOW 0.97%) dropped on Google BigQuery news, while Apple (AAPL 2.19%) and GE Aerospace (GE 7.26%) helped support the Dow and broader value pockets.
What this means for investors
The “SaaSpocalypse” storyline continued Tuesday, with AI-disruption fears continuing to depress some software names, while mega‑cap AI infrastructure and Magnificent Seven names dragged on the S&P 500 and Nasdaq. On the brighter side, Amazon halted its downward slide on Tuesday, ending its losing streak that began after it reported earnings that included a guide for massive CapEx spending.
In non-tech news, consumer staples and packaged-food names struggled as investors show concern that a softening U.S. consumer could pressure margins and earnings across defensive sectors. Even with all this market uncertainty, JPMorgan (JPM 1.92%) argued that select quality names now look mispriced after the AI rerating, suggesting investors are increasingly focusing on moats and regulation while positioning ahead of the next inflation and GDP releases.
