US stocks hovered around the flatline on Monday, after gains in the energy and technology sectors were offset by a slump in materials stocks.
The Dow Jones Industrial Average edged up 0.03% to end at 21,012 points and the S&P 500 closed flat at 2,399. It briefly touched a record high of 2,399.94. The Nasdaq Composite added 0.03% to 6,103.
Materials shares in the S&P 500 fell 0.9% amid a further slide in prices for industrial metals. Copper for July delivery lost 1.4% on the Comex division of the New York Mercantile Exchange. Freeport-McMoRan declined 1.1%. Dow component DuPont fell 1.1%.
Energy stocks were among the best performers in the S&P 500, rising 0.7%. Exxon Mobil gained 1.1% and Chevron added 0.8%.
Technology stocks gained with Apple rising 2.7% after Warren Buffett's Berkshire Hathaway disclosed it had more than doubled its stake in the iPhone maker during the first quarter.
The CBOE Volatility index dropped 7.6% to 9.77, its lowest since 1993 as investors took comfort from Emmanuel Macron's victory in French election, as well as from strong quarterly reports in recent weeks.
Elsewhere, shares of Kate Spade jumped 8.31% after bigger rival Coach Inc said it would buy the handbag maker for $2.4 billion to increase its exposure to millennial shoppers. Coach shares rose 4.8%.
Straight Path surged nearly 33% after an unnamed telecommunications company raised its offer to buy the wireless spectrum holder for about $3.1 billion, trumping a bid by AT&T.
Tyson Foods was the biggest S&P loser, down 6.08% after the meat processor reported a slump in quarterly profit.
In Asia, equities were mostly muted on Tuesday in morning session with investors focused on key regional events unfolding in the day, including a presidential election in South Korea and the release of the Australian federal budget.
Japan's Nikkei 225 was mostly flat, trading 0.11% lower after surging more than 2% in the previous session.
Hong Kong's Hang Seng Index traded higher by 0.3%. Markets on the mainland were softer, with the Shanghai Composite sliding 0.2% and the Shenzhen Composite lower by 0.119%. The S&P/ASX 200, Australia's benchmark index, fell 0.47%. Markets in South Korea are closed today.