Wall Street hit another record high on Tuesday, while major stock indices barely moved after a lackluster day of trading.

The Dow Jones Industrial Average rose 9 points, or less than 0.1 percent, to its second all-time high in two days. The index has now been on a winning streak for eight days.

The benchmark S&P 500 and Nasdaq Composite each closed 0.2 percent higher after fluctuating between small gains and losses for most of the day. The benchmark S&P 500 is now just 0.8 percent below its record high hit last month.

On the New York Stock Exchange, slightly more stocks closed lower than those that posted gains, reflecting choppy trading this week. Stock indexes closed mixed on Monday.

The S&P 500 and Dow have been oscillating near historic highs since last week as investors expect an imminent interest rate cut by the US Federal Reserve.

Wall Street also watches corporate earnings reports for clues about the state of the economy and consumer health, and to assess whether the stock valuations of large tech growth companies like Nvidia are inflated relative to the companies’ future growth prospects.

“That’s the big question, and I think all eyes will be on Nvidia when they report this week,” said Bill Merz, head of capital markets research at US Bank Wealth Management. “That’s the elephant in the room, so to speak, that a lot of investors will be focusing on.”

The semiconductor company, with a total market value of over $3 trillion, will report its latest results on Wednesday. On Tuesday, it rose 1.5 percent. The Wall Street mania for artificial intelligence has helped the stock gain 159% this year.

The market received some positive economic data to ponder on Tuesday.

The Conference Board, an economic research group, said its Consumer Confidence Index rose to 103.3 in August from 101.9 in July. The results were better than economists expected and could help bolster sentiment that consumers remain resilient despite inflationary pressures.

Consumer spending accounts for almost 70 percent of U.S. economic activity. Like the labor market, this sector is a strong economic sector.

Best Buy and Dollar General will release their latest earnings on Thursday, which could give investors more insight into where and how much consumers are spending.

Most companies in the S&P 500 have reported better-than-expected earnings so far this earnings season, with several companies rising on Tuesday as traders cheered their latest quarterly results.

Hain Celestial Group shares rose 18.6 percent after the company’s fourth-quarter profit beat Wall Street estimates. Trip.com Group shares climbed 8.6 percent after second-quarter earnings beat analysts’ forecasts and the company reported strong travel demand.

Cruise company shares also rose. Royal Caribbean rose 4.3 percent, Norwegian Cruise Line rose 3.6 percent and Carnival rose 2.7 percent.

The parent company of Outstanding The film studio’s share price fell 7.1% after Edgar Bronfman Jr., the former head of Warner Music Group, withdrew his offer for the company, paving the way for its takeover by media company Skydance.

Overall, the S&P 500 rose 8.96 points to 5,625.80. The Dow rose 9.98 points to 41,250.50 and the Nasdaq gained 29.05 points to close at 17,754.82.

US Treasury yields remained stable in the bond market, with the 10-year US Treasury yield rising to 3.83% from 3.82% late Monday.

Investors are eagerly awaiting Friday when the government will release its latest inflation data for July with the Personal Consumption and Expenditure Report (PCE). This report is the preferred inflation measure of the Federal Reserve, which has signaled that the long-awaited Interest rate cuts come.

Inflation has been falling steadily over the past two years after the central bank raised its benchmark interest rate to its highest level in two decades. The economy has weathered both inflation and higher borrowing rates, bringing the Fed closer to its goal of curbing inflation without pushing the economy into recession.

Traders expect the Fed to begin cutting interest rates at its next meeting in September, with a reduction of up to 1% possible by the end of the year.

European markets mostly rose, and Asian markets recorded mixed performance.

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AP business writers Zimo Zhong and Matt Ott contributed.