The Dow Jones Industrial Average surged to a record on Tuesday as Wall Street picked lagging value stocks over momentum and tech.
The blue-chip index gained 557 points, or 1.2%, to mark its 16th closing high of the year and its first of November. The S&P 500 endured a slide in AI stocks like Nvidia to finish the day up 0.2%. The Nasdaq Composite fell 0.2%.
Wall Street continued to celebrate progress toward ending the government shutdown, though a handful of headlines in the AI space hit popular plays such as Nvidia and Vistra. The iShares Semiconductor ETF also struggled. AI stocks had rallied furiously on Monday.