LIVE MARKETS-S&P 500, Nasdaq edge tentatively higher while small caps take comfortable lead 

By Reuters News

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S&P 500, NASDAQ EDGE TENTATIVELY HIGHER WHILE SMALL CAPS TAKE COMFORTABLE LEAD

Wall Street on Tuesday struggled to extend Monday's robust rally, in which investors rediscovered their enthusiasm for all things AI and pushed the Nasdaq .IXIC to a record closing high.

The S&P 500 .SPX could follow suit today. The bellwether index, currently barely green, is hovering just below its all-time closing high reached just over a month ago.

The Dow .DJI turned pale red after the first few minutes of trading. The small-cap Russell 2000 .RUT is enjoying a sizeable lead over its larger-cap counterparts.

On the sector level, communication services .SPLRCL is enjoying a comfortable lead among the S&P 500's 11 major groups, with energy .SPNY and financials .SPSY vying for last place.

Elsewhere, recently beaten-up sectors are finding some favor. Housing market-related stocks .SPCOMHOME, .HGX, airlines .SPCOMAIR, and travel/leisure shares .SPCOMHOTL are outperformers.

Washington and Tehran dropped hints that they could shortly resume negotiations to end their conflict. As a result, crude prices dropped and Treasury yields eased, reflecting some optimism that war-related price pressures could begin to ebb sooner rather than later.

U.S. Federal Reserve appearances today include New York Fed President John Williams, Fed Vice Chair Philip Jefferson and Richmond Fed President Thomas Barkin, with Q&A expected after Barkin's remarks. Their words will likely be dissected for clues regarding the duration and extent of the current tightening phase aimed at taming war-related inflation.

Here's where things stood as of 10:03 a.m. EDT:

(Stephen Culp)

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EARLIER ON LIVE MARKETS:

5% PROVES A TOUGH HURDLE FOR THE BENCHMARK TREASURY YIELD CLICK HERE

HALF-TIME IN EUROPE: STOCKS GET A BOOST CLICK HERE

AI'S NEXT EUROPEAN WINNERS, ACCORDING TO UBS CLICK HERE

EQUITY POSITIONING WEAKENING, SHORT-COVERING RISK INCREASING — ITI CLICK HERE

SUBDUED OPEN CLICK HERE

EUROPE BEFORE THE BELL: FUTURES STEADY AFTER NASDAQ'S 3% JUMP CLICK HERE

AI TRADE GETS ITS MUSE CLICK HERE


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