12:47 PM EST, 12/30/2024 (MT Newswires) -- US benchmark stock indexes retreated along with government bond yields after midday in the penultimate session of 2024.

The Nasdaq slipped 0.9% to 19,594.4, the S&P 500 lost 0.7% to 5,930.7 and the Dow Jones Industrial Average fell 0.8% to 42,638.4.

Materials and consumer discretionary led the decliners, with the energy sector the sole gainer intraday.

Pending home sales rose by 2.2% in November, higher than a 0.8% gain expected in a survey compiled by Bloomberg and following a 1.8% increase in October, according to the National Association of Realtors. The monthly sales index was up 6.9% from November 2023 and at 79.0 is the highest level since February 2023.

The Institute for Supply Management's Chicago PMI reading dropped to 36.9 in December from 40.2 in November, compared with an expected 42.7 reading in a survey compiled by Bloomberg. The index indicates contraction.

Wells Fargo Investment Institute, in its investment strategy report published Monday, said "US stocks are poised to end 2024 with strongly positive gains."

"Volatility in December tempered investor enthusiasm but, as of Dec. 19, has not been enough to derail sizable stock gains for the year," according to the report.

In company news, Boeing ( BA ) shares were down 1.6% in recent Monday trading after multiple media reports said that South Korea's transport ministry will inspect Boeing ( BA ) planes operated by all airlines in the country following the crash of one of the plane maker's 737-800 aircraft.

News outlets reported over the weekend that a Jeju Air Boeing 737-800 crashed Sunday at Muan International Airport, killing 179 people on board.

Nvidia ( NVDA ) completed its acquisition of AI software company Run:ai, according to a blog post from Run:ai on Monday. Nvidia ( NVDA ) shares climbed 1.9% around midday.

The US 10-year Treasury yield fell six basis points to 4.56%. The two-year rate slid six basis points to 4.27%.

The US Dollar Index was up 0.2% to 108.22.

West Texas Intermediate crude rose 1.3% to $71.50 per barrel.

Gold was down 0.6% to $2,615.70 an ounce. Silver fell 1.9% to $29.39 per ounce.

The NYSE and the Nasdaq announced they will close trading on Jan. 9 in observance of the National Day of Mourning to honor the passing of former President Jimmy Carter, while the Securities Industry and Financial Markets Association recommended an early market close at 2 pm ET on that day for bond market trading.