New York. US stocks hover near record highs on Tuesday after gold prices topped $4,000 an ounce for the first time.

The S&P 500 inches up 0.1 percent following its latest all-time high and a seven-day winning streak. The Dow Jones Industrial Average slips 6 points, or less than 0.1 percent, while the Nasdaq composite adds 0.2 percent as of 10 a.m. Eastern time.

Global markets and bond yields also move modestly, pausing after a strong rally fueled by optimism that the US economy will stay resilient and the Federal Reserve will keep cutting interest rates.

With the federal government mired in another shutdown, key economic data, including last week’s jobs report, remain delayed. The lack of market-moving reports could help extend Wall Street’s current upward trend, analysts say.

IBM rises 2.4 percent after announcing a partnership to integrate Anthropic’s Claude AI chatbot into its software lineup. A frenzy over artificial intelligence has powered Wall Street’s record-setting run, though some investors warn prices may have climbed too far, too fast.

Optimists are betting the AI boom will boost global productivity and growth. Without that payoff, inflation risks could mount as government debt piles up worldwide. That dynamic has both bulls and bears turning to tech and gold, said Thierry Wizman, a strategist at Macquarie Group.

Gold, traditionally viewed as a hedge against inflation, has surged more than 50 percent this year amid ballooning government debt, global political instability, and expectations of lower US interest rates.

Elsewhere, Constellation Brands climbs 3.5 percent after posting quarterly results that exceeded analysts’ expectations. Beer sales still fell from a year earlier, which CEO Bill Newlands attributed to a “challenging socioeconomic environment.”

Intercontinental Exchange, the parent of the New York Stock Exchange, adds 1.8 percent after agreeing to invest up to $2 billion in Polymarket, a prediction market platform that lets users bet on outcomes ranging from political races to cultural events.

In Toronto, shares of Trilogy Metals more than triple after the White House announced a 10 percent stake in the company and approved the Ambler Road project in Alaska. President Donald Trump authorized construction of the 211-mile road to facilitate mining of copper, cobalt, and other minerals vital to technology manufacturing. Trilogy shares surge 214.3 percent.

In Europe, France’s CAC 40 gains 0.2 percent after sliding Monday amid renewed political turmoil following the resignation of the prime minister.

In the bond market, the 10-year Treasury yield dips to 4.15 percent from 4.18 percent late Monday.

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