04:41 PM EST, 12/31/2024 (MT Newswires) -- US benchmark equity indexes logged double-digit percentage gains in 2024 after closing lower Tuesday.

The Nasdaq Composite dropped 0.9% to 19,310.8 on the last trading day of the year, while the S&P 500 fell 0.4% to 5,881.6. The Dow Jones Industrial Average lost 0.1% to 42,544.2.

In 2024, the Nasdaq jumped 29%, while the S&P advanced 23%. The Dow added 13%. Earlier this month, the indexes rose to closing records.

"Investor sentiment is high entering 2025 as several of the 2024 positive trends that remain in place were bolstered by November (US presidential) election results, which ignited pro-growth policy expectations," D.A. Davidson said in a Friday note to clients. "This sets up conditions for equity prices to move higher if the US economy sustains growth above 2% and corporate earnings grow above 10%."

Markets will be closed Wednesday for New Year's Day.

Among sectors, technology posted steepest decline Tuesday, while energy led the gainers.

The US 10-year yield rose 2.8 basis points to 4.57%, while the two-year rate dropped 1.4 basis points to 4.24%.

In economic news, US home prices increased to fresh record levels in October, though annual price growth decelerated, S&P Global ( SPGI ) division S&P Dow Jones Indices said.

"With the latest data covering the period prior to the (presidential) election, our national index has shown continued improvement," said Brian Luke, head of commodities, real and digital assets at S&P Dow Jones Indices. "Removing the political uncertainly risk has led to an equity market rally; it will be telling should the similar sentiment occur among homeowners."

Separately, the Federal Housing Finance Agency said home prices increased 0.4% on a seasonally adjusted basis in October, compared with the prior month's unchanged 0.7% gain. The latest print matched the consensus in a survey compiled by Bloomberg.

The housing industry is likely to begin 2025 facing the same headwinds it did this year, including mortgage rate volatility and seasonal trade underperformance, Wedbush Securities said.

Texas' services sector activity slipped in December even as a key revenue gauge increased, the Federal Reserve Bank of Dallas said.

West Texas Intermediate crude oil rose 1.1% to $71.80 a barrel.

In company news, Sangamo Therapeutics ( SGMO ) shares plummeted 56%. Late Monday, the genomic medicine company said its partner, Pfizer ( PFE ) , decided not to proceed with further development of a new gene therapy to treat hemophilia A, a bleeding disorder. Pfizer ( PFE ) closed 0.4% higher Tuesday.

Drugmaker Moderna (MRNA) rose 5.6%, the biggest gain on the S&P.

Chinese e-commerce platform PDD's (PDD) US-listed shares increased 2.8%, the top gainer on the Nasdaq.

Gold rose 0.8% to $2,637.70 per troy ounce, while silver lost 0.4% to $29.30 per ounce.