A potential debt ceiling agreement and a rise for Nvidia helped lift tech stocks, but US stocks were divided.

The S&P 500 was up 0.1% and the NASDAQ Composite was up 0.5% as of 10:31 ET (14:31 GMT), but the Dow Jones Industrial Average dropped 124 points or 0.4%.

The debt ceiling agreement, which includes caps on the expansion of nondefense spending and the reclamation of wasted cash designated to combat COVID-19, was being hammered out by lawmakers in a mad dash. The limit must be raised or suspended by Congress by early June, which the accord will do until early 2025, or the government will be forced to stop making debt payments.

However, not everyone is pleased with the agreement, setting up a confrontation in the House this week. Republicans claim that because it doesn’t cut deeply enough, they won’t support it. Concerns regarding elements like additional job requirements for receiving certain food aid and other benefits have been voiced by several Democrats.

The CB consumer confidence reading was 102.3, higher above the predicted May figure of 99.

Shares of chipmaker NVIDIA Corporation (NASDAQ:NVDA) increased 4.8% after introducing a new lineup of AI-related goods, including a new AI supercomputer to help fulfil consumer demand. Its stock value has increased dramatically since last week, when it forecasted a sharp increase in revenue from the AI-related industry, reaching $1 trillion.

As CEO Elon Musk visited China for the first time in three years on Tuesday and met with the foreign minister, shares of Tesla (NASDAQ:TSLA) increased by 3.5%.

According to the Transportation Security Administration, airports checked 9.8 million passengers from Friday through Monday, surpassing the holiday weekend in 2019 before the pandemic. United Airlines Holdings Inc. (NASDAQ:UAL), Southwest Airlines Company (NYSE:LUV), and American Airlines Group (NASDAQ:AAL) all had increases in the share price of 1.4%, 1.4%, and 1%, respectively.

The job vacancies report will be released on Wednesday, and the government’s comprehensive report on employment for May is anticipated to be released early on Friday. This week is a significant one for labour market data.

When the Federal Reserve gets ready to meet next month to decide how to proceed with interest rates, it will analyse the statistics. The possibility that the Fed will increase rates by another quarter point in June is 65%, according to futures traders.

Oil was dropping. While Brent Oil Futures fell 3.8% to $74.19 per barrel, Crude Oil WTI Futures down 3.7% to $69.94 per barrel. To $1,977, gold futures were up 0.7%.