Stock market today: Dow ekes out another record as investors await Nvidia earnings

US stocks saw choppy trading action on Tuesday but the Dow was able to eke out another record close as investors tread carefully on the eve of Nvidia's potentially market-moving earnings report. The Dow Jones Industrial Average finished the day just above the flatline to claim another back-to-back record high. The benchmark S&P 500 and tech-heavy Nasdaq Composite each closed up around 0.2%.

Semiconductor stocks lost ground on Tuesday alongside a 1% drop for the AI darling, a sign of how Nvidia's report could ripple through techs as it tests the AI trade that has driven gains. At the same time, investors are counting down to a crucial update to the inflation gauge favored by the Federal Reserve. Chair Jerome Powell's clear message that an interest rate cut is imminent confirmed widespread confidence in a policy pivot in September.

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