The Dow Jones Industrial Average reached a new record high on Tuesday, gaining 557 points or 1.2%. This marked the index’s 16th closing high of the year and its first in November. Meanwhile, the S&P 500 rose 0.2%, with a slide in AI stocks like Nvidia. The Nasdaq Composite fell 0.2%.

Despite Wall Street’s optimism about progress in ending the government shutdown, AI stocks faced challenges. Nvidia and Vistra were among the popular plays affected by negative headlines in the AI space. The iShares Semiconductor ETF also struggled, following a strong rally in AI stocks on Monday.

Read more at Dow Jones & Company: The Dow Rallies to a Record As Value Finally Beats Momentum, AI