US shares close mixed, Nvidia’s 3% rise offsets debt ceiling jitters

U.S. stocks closed mixed on Tuesday. The S&P 500 and the Nasdaq Composite have recorded monthly gains in May, while the Dow Jones Industrial Average closed lower. Nvidia’s surge briefly propelled the company into the elite club of firms valued at $1tn but fell shy of it at $991bn. The debt-ceiling deal between President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy is likely to pass but has received opposition from some right-wing Republicans. Higher interest rates, a resilient economy, and inflation remain concerns for investors.