NEW YORK (AP) — A drop for Alphabet, one of Wall Street's most influential stocks, is helping to slow the U.S. stock market's record-breaking rally on Tuesday.
The S&P 500 slipped 0.1% a day after setting its latest all-time high. The Dow Jones Industrial Average was up 65 points, or 0.1%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.3% lower.
Analysts have said the market may be set for a slowdown following an unrelenting streak of nine straight winning weeks for the S&P 500, its longest since 2023. The rally has built with strong profit reports from U.S. companies, as well as hopes that the United States and Iran will reach a deal to reopen the Strait of Hormuz and allow oil to flow freely again from the Persian Gulf and lower its price.
