US stocks held near record highs on Tuesday, as Nvidia surpassed Microsoft to become the most valuable public company. Both the S&P 500 and Nasdaq Composite climbed in afternoon trading, up about 0.3% and 0.2%, respectively, after the benchmark index secured its 30th record close of 2024 while the tech-heavy Nasdaq aims to build on a sixth straight record close. The Dow Jones Industrial Average also moved higher, up roughly 0.1%.
Still, it wasn't all positive news after May's retail sales numbers disappointed. Government data released on Tuesday showed that retail sales increased just 0.1%, missing economist expectations, Yahoo Finance's Josh Schafer reported. Meanwhile, April's numbers were revised to show a decline. It could be a sign of more consumer strain amid high interest rates and persistently stubborn inflation.
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