Stocks close mixed: Nasdaq sets another record at 27,244 as the S&P 500 ends flat and the Dow drops 185

The Nasdaq Composite posted a second straight record close on Tuesday, rising 0.45% to 27,244.28, while the S&P 500 finished essentially unchanged at 7,764.64, just 0.06 points below Monday. The Dow Jones Industrial Average lost 185.14 points, or 0.36%, to 51,863.69, according to CNBC. Closing data from Yahoo Finance matches those figures and shows the Russell 2000 up 0.51% at 2,889.92.

What was underneath the flat S&P 500

The flat S&P 500 hid a real split between sectors. Using the SPDR sector funds' closing prices, technology rose 0.73%, materials 1.65% and consumer staples 0.99%. Financials fell 1.97%, the worst of the 11 sectors, and energy and communication services each lost about 1.1%. The drop in financials was broad: JPMorgan Chase fell 3.4%, Bank of America 3.0%, American Express 2.7%, and Visa and Mastercard about 2.1% each. None of the coverage we read gave a single reason for it.

Single-stock moves did much of the work on the upside. Sandisk gained 6.8%, which CNBC said helped carry the Nasdaq. Shopify rose 7.1% after announcing agentic checkout with Meta's Muse AI agent. Viking Therapeutics surged 35.7% on its obesity-drug data. Lennar climbed 6.4% after Berkshire Hathaway disclosed more buying, and Amgen gained 4.3% on its Sjögren's trial result. Royal Caribbean fell 6.1% on reports of talks to buy into Sandals.

Oil fell again; short-term yields eased

U.S. crude fell 1.24% to settle at $94.59 a barrel and Brent slipped 1.09% to $99.25, CNBC reported. It was the fifth straight daily loss for both. U.S. officials described a "very good meeting" with Iran's delegation, while Treasury Secretary Scott Bessent said the administration is examining whether a diesel export ban is feasible. Background: what a diesel export ban would involve. Chart: crude oil.

The Treasury's official 2-year yield fell to 4.71% from 4.76%, while the 10-year held at 4.96% (Treasury data). For borrowers, only the 2-year moved. That yield tracks where traders expect the Fed to go, so it slipped a little. The 10-year drives mortgage and many commercial loan rates, and it stayed just under 5%, so mortgage borrowers got no relief. Chart: 10-year T-note.

Crypto and what's next

Bitcoin was at about $86,379 on Coinbase after the close, down 0.7% over 24 hours, and Ether was near $2,755, down 1.0%. More in today's crypto report.

Flash PMIs come Wednesday and weekly jobless claims on Thursday. This week also brings the Trump-Xi summit in Washington, where tariffs, AI and rare earths are expected on the agenda. See the calendar and live levels on the markets board.

Sources: CNBC, Yahoo Finance, U.S. Treasury, Coinbase Exchange. Sector changes are based on SPDR sector ETF closes. Closing figures as reported after the 4 p.m. ET close; crypto prices at 4:37 p.m. ET. This is market information, not investment advice.