Wall Street ends mixed as investors await tech earnings

STORY: Wall Street's main indexes closed mixed on Tuesday with the Dow gaining 1%, the S&P 500 edging up about two-tenths of a percent and the Nasdaq dipping by roughly two-tenths of a percent.Markets have been volatile this month as investors worry that Microsoft, Amazon and other tech heavyweights may be overspending on data centers in the race to build out AI infrastructure.But Nancy Tengler, CEO and chief investment officer of Laffer Tengler Investments, said to expect these companies to announce more AI spending when they report quarterly results this week."Make no mistake, we're in an AI arms race. I think you will continue to see spending. I think you'll actually see companies increase spending next year and then things will normalize and stabilize... We're focused on adding to the US names because you can't have a situation where companies are penalized for spending, i.e. the hyperscalers, and companies are penalized for being on the receiving end to the spending, Micron, chip names. At some point, this will come, regress to the mean and we'll start to pay attention to fundamentals."Shares of Microsoft rose ahead of its report on Wednesday, while Amazon dipped before its results on Thursday.Shares of Apple closed almost 1% higher, though they rose nearly 2% during the trading session and briefly exceeded a $5 trillion market valuation for the first time. The iPhone maker reports its results on Thursday.Outside of technology, shares of Coca-Cola rallied 5% after the beverage company raised its annual revenue and profit forecasts.:: ArchiveAnd shares of Boeing jumped nearly 5% after the airplane maker generated positive free cash flow as its turnaround plans gained momentum.Meanwhile, the Federal Reserve is due to announce its interest-rate decision at the conclusion of its two-day policy meeting on Wednesday. Traders see about a 70% chance that the central bank will leave rates unchanged, according to CME's FedWatch tool.