Wall Street’s main indexes struggled for direction on Monday, ahead of a packed week that includes AI giant Nvidia’s earnings and the resumption of government data releases, while Alphabet rose after Berkshire Hathaway disclosed a stake in the company.

Google-parent Alphabet gained 5.6% after Berkshire Hathaway revealed a new $4.3 billion stake in the company and further reduced its stake in Apple. Apple shares, fell 0.9%.

Nvidia’s results, due after markets close on Wednesday, will test the sustainability of a stunning rally this year in AI-related stocks, with some investors concerned about stretched valuations and signs of a bubble. The chipmaker’s shares were down 1%.

Jefferies Tech Sector Specialist Jeff Favuzza notes the options market is implying a move of 6% in either direction for Nvidia post earnings.

At 09:44 a.m. ET, the Dow Jones Industrial Average rose 2.86 points, or 0.01%, the S&P 500 gained 4.65 points, or 0.06%, and the Nasdaq Composite gained 56.05 points, or 0.25%.

The S&P 500 information technology index was down 0.2%, while the Philadelphia SE Semiconductor index added 0.8%.

“Whenever a beloved AI name dips, (investors have) been piling in … and you have to ask yourself who are the true believers and how much money do they have,” said Kim Forrest, chief investment officer at Bokeh Capital Partners.

“It feels like we’re getting to a point where one or the other is running out.”

Dell Technologies dropped 5% after Morgan Stanley double-downgraded its rating on the AI server maker to “underweight” from “overweight”. Hewlett Packard Enterprise also fell 3.8% after a Morgan Stanley downgrade.

Retail Giants To Report

The quarterly earnings season will start to thin out this week, though not before earnings from retail giants Walmart, Home Depot and Target.

With the longest government shutdown in U.S. history officially having ended last week, key data releases from government agencies are expected in the next few days.

The much-delayed September jobs report will also be released on Thursday, but may do little more than confirm earlier private market surveys showing a slowing labor market.

Traders currently see a more than 56% chance that the Federal Reserve will hold its rate steady in December compared with a near 94% chance of a 25-basis-point cut seen a month ago, according to the CME FedWatch Tool.

On Monday, at least four Fed speakers including Governor Christopher Waller and New York Fed President John Williams are slated to speak throughout the day. Minutes from the October meeting – where the central bank cut rates by an expected 25 basis points – are due on Wednesday.

Among other moves, shares of Clearwater Analytics rose 5.1% after reports private equity firms Warburg Pincus and Permira were in talks to buy the investment and accounting software maker.

Declining issues outnumbered advancers by a 1.6-to-1 ratio on the NYSE and by a 1.35-to-1 ratio on the Nasdaq.

The S&P 500 posted eight new 52-week highs and six new lows while the Nasdaq Composite recorded 36 new highs and 101 new lows.

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(Reporting by Shashwat Chauhan and Twesha Dikshit in Bengaluru; Editing by Krishna Chandra Eluri and Saumyadeb Chakrabarty)