* Indexes: Dow about flat, S&P up 0.57%, Nasdaq gains 1.14%
NEW YORK, Oct 27 (Reuters) - An AI-fueled tech rally sent US stocks higher on Tuesday as third-quarter reporting season gained steam, while easing oil prices soothed inflation jitters and the Federal Reserve convened for its penultimate meeting of the year.
The tech-laden Nasdaq led gains, while the blue-chip Dow was essentially unchanged.
The buzz surrounding details of Anthropic's impending initial public offering helped boost chip stocks for the third consecutive session.
Growing concerns over the viability of debt-funded spending amid rising borrowing costs have weighed on the AI trade this month. The Philadelphia SE Semiconductor index, while off more than 20% from its June 22 record closing high, has outperformed the broader market this year, gaining 61.6% compared with the S&P 500's 12.8% year-to-date advance.