NEW YORK—Wall Street churned to a mixed finish Tuesday as a long list of worries looms, even if the most pressing crisis seems to be calming as Washington moves to avoid a default on its debt.
The S&P 500 edged up by 0.07, or less than 0.1 percent, to 4,205.52, hovering close to its highest level since August. The Dow Jones Industrial Average slipped 50.56 points, or 0.2 percent, to 33,042.78. The Nasdaq composite, meanwhile, led the market with a 0.3 percent gain as excitement keeps building about artificial intelligence. It rose 41.74 to 13,017.43.
Tuesday marked the U.S. stock market’s first trading since President Joe Biden and House Speaker Kevin McCarthy struck a deal to allow the U.S. government to borrow more money, which would let it avoid a default on its debt. They now must convince Congress to approve it before the U.S. government runs out of cash to pay its bills, which could happen as soon as Monday….