By DAMIAN J. TROISE AP Business Writer
NEW YORK (AP) — Stocks are holding near breakeven in morning trading on Wall Street Tuesday as indexes hover just below their recent all-time highs.
The S&P 500 was mostly unchanged. The Dow Jones Industrial Average rose 21 points, or 0.1%, as of 9:55 a.m. Eastern time. The Nasdaq composite was also mostly unchanged.
Boeing rose 1.6% after Korean Air announced a $50 billion deal with the company that includes buying more than 100 aircraft. Dish TV parent, EchoStar, surged 80% after AT&T said it will buy some of its wireless spectrum licenses in a $23 billion deal.
Treasury yields were little changed in the bond market. The yield on the 10-year Treasury rose remained at 4.28% from late Monday.
The broader market remained subdued following President Donald Trump’s escalation of his fight with the Federal Reserve. On Monday, he said that he’s removing Federal Reserve Governor Lisa Cook. She has responded that she will not resign.
It marks the latest chapter in his dispute with the central bank over its cautious interest rate policy. The Fed has held rates steady since late 2024 over worries that Trump’s unpredictable tariff policy will reignite inflation. Trump has also threatened to fire Fed Chair Jerome Powell.
Wall Street is still betting that the Fed will trim its benchmark interest rate at its next meeting in September. Traders see an 86% chance that the central bank will cut the rate by a quarter of a percentage point, according to data from CME Group.
The two-year Treasury yield, which more closely tracks expectations for Fed action, slipped to to 3.69% from 3.73% late Friday.
Crude oil prices fell. European markets were mostly lower and Asian markets closed lower overnight.