The S&P 500 traded near the flatline on Tuesday as the benchmark makes another attempt at a record.
The Dow Jones Industrials fell 48.15 points to close at 34,582.09
The much broader index dipped 0.94 points to 4,225.58.
The NASDAQ jumped 67.23 points to 13,881.72.
Tesla, which is down 10% in the last month, rebounded by 2.4% to pace Nasdaq stocks. The electric car maker delivered 33,463 China-made vehicles in that market in May, a 29% jump from April. Delta Air Lines gained 1.8% after an upgrade from Jefferies on optimism about international and business travel.
Boeing shares climbed more than 1% after Southwest Airlines said it is upsizing its order for the smallest 737 Max model by nearly three-dozen planes amid an improvement in travel demand.
The Reddit-fueled trading mania seemed to have spread to other stocks, notably Clover Health and Wendy's on Tuesday. The health care startup soared as much as 50%, while shares of the fast food chain rallied 13%.
The U.S. Securities and Exchange Commission said Monday it's watching ongoing volatility in the market and vowed to protect retail investors.
On the data front, job openings in April soared to a new record high, with 9.3 million vacancies coming amid the grand economic recovery.
The standard set in April was well above the 8.3 million in March that itself was a new series high going back to 2000 for the Labour Departments Job Openings and Labor Turnover Survey.
All eyes are on the next Federal Open Market Committee meeting scheduled for June 15-16 as investors look for what Fed officials will say about inflation and monetary policy. Recent comments by officials suggest the Fed is beginning to prepare markets for tapering its asset purchases.
Prices for 10-Year Treasurys gained ground, lowering yields to 1.53% from Monday's 1.57%. Treasury prices and yields move in opposite directions.
Oil prices lost 15 cents to $69.08 U.S. a barrel.
Gold prices scaled back four dollars to $1,894.80 U.S. an ounce.