US stocks ended little changed as early pressure in high-multiple tech was offset by strength in financials, leaving the S&P 500 up 0.2%, the Dow modestly higher, and the Nasdaq 100 marginally lower. Investors continued trimming expensive software exposure with Salesforce falling 2.9%, Intuit losing 5.1%, and Oracle shedding 3.8%. Semiconductors showed intra sector divergence as AMD eased 2.1% while Nvidia gained 1.2% reflecting selective positioning within AI leaders. Meanwhile, financials outperformed, with JPMorgan up 1.5% and Citigroup 2.7%, after Fed Governor Michael Barr signalled rates may need to remain restrictive for some time which bolstered net interest margin expectations. Markets are now focused on the Fed minutes and Friday’s core PCE for confirmation that disinflation is durable.