04:51 PM EST, 12/23/2024 (MT Newswires) -- US benchmark equity indexes closed higher Monday as traders evaluated the latest economic data.

The Nasdaq Composite rose 1% to 19,764.9, while the S&P 500 advanced 0.7% to 5,974.1. The Dow Jones Industrial Average increased 0.2% to 42,907. Communication services led the gainers among sectors, while consumer staples saw the biggest drop.

US markets will close early Tuesday and remain closed Wednesday for the Christmas Day holiday.

In economic news, new-home sales in the US rose at a slower pace than expected in November, while median prices at the national level cooled both sequentially and annually, according to government data.

Sales will notch a "small improvement" in 2025 amid expectations that mortgage rates will decline slightly and the economy and job market will continue to be supportive, Oxford Economics said.

US consumer confidence fell this month, while annual inflation views remained at the lowest level since March 2020, the Conference Board said. The expectations index declined 12.6 points to 81.1, just above the threshold of 80 that the data provider said usually signals a recession ahead.

"The recent rebound in consumer confidence was not sustained in December," Conference Board Chief Economist Dana Peterson said.

US durable goods orders dropped more than projected in November led by transportation equipment, government data showed.

The US 10-year yield increased 6.5 basis points to 4.59% Monday, while the two-year rate gained 2.8 basis points to 4.34%.

In company news, shares of chip-making giant Nvidia ( NVDA ) rose 3.7%, the top performer on the Dow. Broadcom ( AVGO ) was the best performer on the S&P 500 and the second-best on the Nasdaq, up 5.5%. Advanced Micro Devices ( AMD ) was also among the top gainers on the S&P 500 and the Nasdaq, up 4.5%.

Hyatt Hotels ( H ) is in exclusive negotiations to potentially acquire Playa Hotels & Resorts ( PLYA ) , among other options being considered for the operator of resorts in Mexico, Jamaica and the Dominican Republic. Playa shares jumped nearly 29%, while Hyatt fell 1.4%.

MicroStrategy ( MSTR ) said it acquired 5,262 bitcoins for about $561 million in cash from Dec. 16 through Dec. 22. The company's shares tumbled 8.8%, the steepest decline on the S&P 500.

The US Consumer Financial Protection Bureau sued retail giant Walmart ( WMT ) and financial technology company Branch Messenger on allegations that they forced delivery drivers to use costly deposit accounts to get paid. Walmart ( WMT ) shares fell 2.1%, the worst performer on the Dow.

West Texas Intermediate crude oil rose 0.2% to $69.58 a barrel Monday.

Gold dropped 0.6% to $2,628.60 per troy ounce, while silver increased 0.9% to $30.23 per ounce.