U.S. Stocks Trade Mixed As Apple Gains After Split

U.S. stocks traded mixed, near all-time highs, as investors evaluated the outlook for global growth and central bank stimulus to counter the pandemic.

The Dow Jones Industrial Average led losses after its components were revamped, while the S&P 500 Index dipped as it heads for a fifth straight monthly advance, the longest run in almost two years. Apple  led Nasdaq gauges higher after its stock split 4-for-1, while Microsoft Corp. and Walmart fell after China said it could block a possible sale of short-video app TikTok. The Dow Industrial’s constitution changed today after Apple’s split, with the iPhone maker’s weighting down to 2.9% from 12%. To maintain tech’s relative sway in the blue-chip index, the overseers added Salesforce.com, ending Exxon Mobil’s long run. Amgen and Honeywell also joined, replacing Pfizer and Raytheon. Tesla’s 5-for-1 split also took effect. European shares slumped.