Big Tech lifts S&P as Apple falls

A rebound in major AI-linked technology stocks lifted the S&P 500 0.4% and the Nasdaq 0.8% on Tuesday, while the Dow fell 0.4%, despite declines in most S&P 500 stocks. Nvidia and Broadcom gained, as did Microsoft, Amazon and Meta, amid continued market volatility and concerns that AI-related shares may be overvalued. Apple fell 1.9% despite beating quarterly profit and revenue expectations, as rising memory-chip costs driven by AI data-center demand are expected to squeeze its profit margins. Palantir slipped 1.6% despite better-than-expected profit; its U.S. commercial revenue surged, making business customers a larger revenue source than the U.S. government for the first time.