US stock market close: The three major indexes were mixed, and Alibaba rose about 4.6% against the trend

The overall US stock market on Tuesday showed a choppy consolidation. By the end of trading that day, the Dow Jones Industrial Average edged up by about 0.19%, the S&P 500 inched higher by about 0.14%, while the Nasdaq Composite fell slightly by about 0.18%. Market trading sentiment remained relatively cautious, and investors continued to watch the Federal Reserve’s policy direction, valuation pressure in technology stocks, and the performance of Chinese concept stocks.

In the Chinese concept sector, Alibaba (BABA) closed up about 4.6%, clearly outperforming the broader market. Individual stocks such as JD.com (JD) and Baidu (BIDU) also rose, gaining about 3.3% and 3.0%, respectively. Previously, the market still had differences over the competitive landscape in the e-commerce industry, the pace of consumer recovery, and companies’ cost-control capabilities. This share-price rebound to some extent reflects renewed attention from capital toward some undervalued Chinese concept stocks.

In the technology sector, the moves of major leading stocks diverged. Tesla (TSLA) closed down by about 1.8%, Haitao Lixter (SHOP) fell by about 1.6%, and stocks including Apple (AAPL), Oracle (ORCL), and Circle (CRCL) also saw adjustments to varying degrees. Overall, the AI industry chain and high-valuation technology stocks are still facing repeated tug-of-war for capital, leading to relatively large stock-price fluctuations.

At the same time, gold-concept stocks performed relatively strongly. Harmony Gold (HMY) closed up by about 1.8%, and the NYSE gold stock index also rose. Gold sectors typically attract capital when market uncertainty increases. Ongoing discussions around the Federal Reserve’s rate-cut path have continued recently, and thus more attention has been paid to the allocation value of gold assets.