US stocks flat as oil prices fall

US stocks were little changed in early trading on Tuesday as oil prices fell and investors kept focus on the artificial intelligence sector.

About 10 minutes after trading opened, the Dow Jones Industrial Average was down 0.1 percent at 51,415.85. The S&P 500 was flat at 7,684.06, while the Nasdaq Composite Index rose 0.1 percent to 26,839.73.

Crude prices fell more than two percent after a report showed a rise in Middle East oil exports despite the US-Iran war. Treasury bond yields, which had risen further to multi-year peaks on Monday, were little changed early Tuesday.

The Financial Times reported that US artificial intelligence developer Anthropic warned of potential “existential risks to humanity” in a prospectus for an initial public offering of shares. The document also pointed to plans to spend $518 billion in coming years.

Anthropic chief executive Dario Amodei was expected at a White House gathering on Tuesday with other AI leaders. Interactive Brokers' Steve Sosnick said the market remained very dependent on the AI trade.