U.S. stocks closed lower on Tuesday as investors, deprived of economic data resulting from the shuttered government, looked to secondary indicators and remarks from U.S. Federal Reserve officials for clues regarding economic weakness and monetary policy.

Market Snapshot

The Dow Jones Industrial Average fell 91.99 points, or 0.20%, to 46,602.98, the S&P 500 lost 25.69 points, or 0.38%, to 6,714.59 and the Nasdaq Composite lost 153.30 points, or 0.67%, to 22,788.36.

Market Movers

Tesla - Tesla fell 4.5%. The electric-vehicle maker said it would roll outa pair of vehicles starting below $40,000, including a new standard Model Y starting at $39,900. The Model Y has limited paint options and a base mileage per charge of about 320 miles, 40 miles less than premium Model Y products. A new Model 3 will start at $36,900, Tesla added. Prior to those announcements, Tesla said it hadbegun rolling out version 14of its Full Self-Driving driver-assistance product.

AMD - AMD rose 3.8%. Shares surged 24% on Monday after the chip maker announced a long-term deal to become akey supplier to OpenAI’s artificial-intelligence infrastructure buildout. AMD’s market cap grew $63.36 billion to $330.6 billion on Monday, according Dow Jones Market Data, the stock’s largest one-day market cap gain on record. Jefferies analysts upgraded the stockto Buy from Holdon Tuesday.

Chip rival Nvidia traded down 0.3% and Broadcom rose 0.3%. Both stocks suffered moderate losses on Monday after the AMD-OpenAI announcement.

Dell - Dell Technologies rose 3.5% after the maker of computers and artificial-intelligence servers boosted its long-term financial guidance. Dell said it was targeting annual revenue growth of 7% to 9% through fiscal 2030, up from a previous range of 3% to 4%. Its adjusted per-share earnings growth target was raised to 15% or better, almost double its prior forecast of 8%.

Ford - Ford Motor fell 6.1%. A fire that occurred three weeks ago at Novelis, a supplier of aluminum sheet to the auto industry, likely will pressure production at Ford and other auto makers, The Wall Street Journal reported on Monday.

Oracle - Oracle shares dropped 2.5% on Tuesday, though off their worst levels of the session. The supposed difficulties that Oracle may be having generative revenue from renting Nvidia's GPUs are “off base,” Fox Business reported. Earlier on Tuesday, The Information cited internal documents from the IT giant that showed its fast-growing cloud business has thin gross profit margins in the past year or so, lower than what many equity analysts have forecast.

AppLovin - AppLovin rose 7.6% after tumbling 14% on Monday. Bloomberg reported that the Securities and Exchange Commission wasinvestigating the data-collection practicesof the mobile advertising tech company. An AppLovin spokesperson toldBarron’sthat “generally, we do not comment on the existence or nonexistence of any potential regulatory matters. That said, as a global public company, we regularly engage with regulators and if we get inquiries we address them in the ordinary course. Material developments, if any, would be disclosed through the appropriate public channels.”

SoFi Technologies - SoFi Technologies rose 6.8% following a Politico report that said the Trump administration was considering selling parts of the federal government’s roughly $1.6 trillion student loan portfolio to the private market.

IBM - IBM gained 1.5% after reaching a partnership with Anthropic that will integrate its large language models into certain IBM software products. The stock traded as high as $301.04 during the session, a new intraday record.

Trilogy Metals - Trilogy Metals skyrocketed 211% to $6.50 after the White House said late Monday it wasinvesting $36.5 million, or about 10%, in the small Canadian miner company. The U.S. government will take warrants to purchase an additional 7.5% of the stock.

Joby, Archer Aviation - Shares of the pair, which make electric vertical takeoff and landing (eVTOL) aircraft, dropped on Tuesday after an announcement from Tesla turned out to be only about cars, as generally expected. There wasn’t so much as a whisper about aviation. Joby stock dropped 3.4%, closing at $18.91. Archer shares fell 8.5%, closing at $12.48.

Constellation - Constellation Brands rose 1% after the company reduced its fiscal-year guidance, even as fiscal second-quarter earnings and sales beat analysts’ expectations. The company estimated earnings for the year of $9.86 to $10.16 a share, down from prior guidance of between $10.77 and $11.07. Like many other alcohol and beverage companies, Constellation has struggled as younger consumers cut back on drinking alcohol because of rising prices, health concerns, and the popularity of other recreational options. The stock has fallen 37% this year.

Aehr Test - Aehr Test Systems sank 17.4%. While the semiconductor equipment maker posted slightly better-than-expected fiscal first-quarter results, Aehr swung to a loss from a year earlier. CEO Gayn Erickson said the company remained cautious due to ongoing tariff-related uncertainty and wasn’t reinstating formal guidance yet, but was “confident in the broad-based growth opportunities ahead across AI and our other markets.”

Dollar Tree - Dollar Tree declined 3% to $85.04 after shares of the discount retailer were downgraded to Underperform from Hold at Jefferies and the price target was reduced to $70 from $110. The analysts cited a downbeat combination of tariff pressures, rising competition, and shrinking margins.

Market News

Tesla Debuts "Affordable" Model Y and 3 That Strike Some as Too Expensive

Tesla rolled out "affordable" versions of its best-selling Model Y SUV and its Model 3 sedan, but the starting prices of $39,990 and $36,990 struck some as too high to attract a new class of buyers to the electric vehicle brand.

Tesla's stock fell 4.5% and Tesla bull Dan Ives, an analyst at Wedbush, said he was disappointed that the cars were only about $5,000 cheaper than the next trims of the models.

The new versions, called Standard, cost more than what the previous models started at, including a $7,500 tax credit that expired at the end of September.

The much-awaited unveiling is crucial for Tesla as it pushes to reverse falling sales and waning market share amid rising competition in Europe and China, and the loss of the U.S. tax credit.

Trump Promises Trade Fairness for Canada, Noncommittal on USMCA Deal

U.S. President Donald Trump on Tuesday promised to treat Canada fairly in talks over painful U.S. tariffs on Canadian goods, but was less committed about a continental trade deal that also includes Mexico.

"I think they're going to walk away very happy," Trump said, referring to Canada, in Oval Office remarks ahead of a meeting with Prime Minister Mark Carney. "We're going to treat people fairly. We're going to especially treat Canada fairly."

The Canadian minister in charge of bilateral trade later said the two sides had made progress during what he called a successful, positive, and substantive conversation with Trump, while making clear any potential deals were not close.