Berkshire Hathaway dumped S&P 500 funds amid high valuations and it remains a strong investment choice with better yield opportunities. See more here.

Wall Street remained unsteady as U.S. stocks dipped, with the S&P 500 falling 0.5% amid mixed corporate earnings and economic concerns. Nvidia's stock decline impacted the index significantly, while Berkshire Hathaway's profits offered some optimism.

Berkshire Hathaway (BRK.B) (BRK.A), the investment giant run by Warren Buffett, took a new position in Constellation Brands (STZ), closed positions in two S&P 500 ETFs, and pared its stake in Bank of America (BAC),

Buffett frequently recommends that investors invest in the S&P 500. The market looks expensive today, which may be why he's raising cash. There have been some telling signs in Berkshire Hathaway's trades over the past two years,

U.S. stock indexes are drifting after last week's sharp losses, with the S&P 500 down 0.4% and the Nasdaq dropping 1%. Berkshire Hathaway rose 3.4% after reporting increased profits, while Nvidia's decline impacted overall market performance.

Warren Buffett has dominated the investing world. He has consistently beat the S&P 500 by a 2-to-1 ratio. Generating cumulative returns of 4,384,748%, he has compiled a compound annual growth rate for Berkshire Hathaway (NYSE:BRK-A)(NYSE:BRK-B) of 19.

Warren Buffett's Berkshire Hathaway sold two S&P 500 index funds in the fourth quarter, a surprising move given that Buffett has frequently recommended S&P 500 index funds. Some Wall Street analysts think the S&P 500 will continue trending higher in the coming months and years as artificial intelligence drives productivity and earnings growth.

Warren Buffet’s Berkshire Hathaway has been raising cash at a dizzying pace. The institutional investing company has been selling everything from Bank of America stock to a few different S&P 500 exchange traded funds (ETFs) to some of the company’s share of Liberty Media Formula One stock.

Warren Buffett has led the Berkshire Hathaway holding company to market-crushing returns since 1965. Buffett recommends retail investors buy exchange-traded funds, which track the performance of stock market indexes like the S&P 500.

KBW and UBS raised price targets on shares of Warren Buffett’s Berkshire Hathaway after the conglomerate reported blowout fourth-quarter earnings on Saturday.

Stock market futures moved higher early Monday as Wall Street looked to bounce back from a slide late last week. Futures for the Dow Jones Industrial Average added 220 points, or 0.51%. S&P 500 futures added 0.54%, while Nasdaq 100 futures were up 0.53%.