US stocks were mixed on Tuesday to begin a holiday-shortened week of trading, with potential policy moves by the Federal Reserve and President Donald Trump in focus.

The benchmark S&P 500 ( ^GSPC ) rose nearly 0.2%, with most of the games coming in the final 10 minutes of trading, to hit a fresh record close of 6,129.58. Meanwhile, the Dow Jones Industrial Average ( ^DJI ) and Nasdaq Composite ( ^IXIC ) finished barely in the green.

Stocks on Wall Street were largely cautious after Monday's closure for Presidents Day as investors debate the future path of interest rates. Fed officials over the long weekend signaled a firm belief that rates should stay at current levels to combat rising inflation .

Treasury yields stepped higher as investors sought more clues to the chances of rate cuts this year, given recent data failed to give a clear steer. The benchmark 10-year yield ( ^TNX ) rose to trade around 4.54%.

That uncertainty has turned the spotlight on Wednesday's release of minutes from the Fed's January meeting for more clues to policymakers' thinking amid Trump's tariffs .

At the same time, the US-Russia talks on ending the Ukraine war are gripping markets, after Trump and Putin's teams met in Saudi Arabia on Monday.

And earnings season continues, with results from 46 S&P 500 companies due this week. Baidu's ( BIDU , 9888.HK ) report of a fall in revenue kicked off looming results from China's trillion-dollar tech industry, including Alibaba ( BABA ) on Thursday.

In individual movers, Intel ( INTC ) was a notable gainer, up some 16% amid reports that rivals could pursue a deal that would see the chipmaker split .