NEW YORK (AP) — U.S. stock indexes are drifting following mixed profit reports from big companies and updates on the economy that appeared to keep alive hopes for another interest rate cut next month. The S&P 500 was little changed in early trading Tuesday. The Dow Jones Industrial Average rose 278 points, or 0.5%, and the Nasdaq composite slipped 0.3%. Some chip companies dropped following a report from the Information that Meta Platforms is in talks to spend billions of dollars on artificial intelligence chips from Google parent company Alphabet instead of them. Nvidia and Advanced Micro Devices fell, while Alphabet rose.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

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