"Dow and Nasdaq Dip as Stock Market Rally Pauses"

US stocks paused their record-setting rally as investors awaited Federal Reserve Chair Jerome Powell's testimony and the monthly jobs report. The S&P 500 and Dow Jones dipped, while the Nasdaq Composite remained flat. Concerns about a potential tech bubble arose amid a relentless AI-spurred run-up in tech stocks, with Nvidia's valuation reaching $2 trillion. Bitcoin surged towards a record high, while EU antitrust regulators fined Apple almost $2 billion. Macy's stock jumped after a buyout offer increase, and Spirit Airlines' shares sank following the termination of its merger agreement with JetBlue. Bank of America and UBS projected bullish outcomes for stocks in 2024, reflecting optimism about the economy's strength.