04:33 PM EDT, 10/29/2024 (MT Newswires) -- The Nasdaq Composite closed at an all-time high Tuesday as investors parsed the latest batch of corporate earnings and economic data.

The technology-heavy Nasdaq rose 0.8% to 18,712.8, while the S&P 500 advanced 0.2% to 5,832.9. The Dow Jones Industrial Average fell 0.4% to 42,233.1. Among sectors, only communication services and tech saw gains, while utilities posted the steepest decline.

In company news, Cadence Design Systems ( CDNS ) shares jumped nearly 13%, the best performer on the S&P 500 and the Nasdaq. Late Monday, the company tightened its full-year outlook, raising the lower end of the range on earnings and revenue after a better-than-expected Q3.

Incyte ( INCY ) saw the second-biggest gain on the S&P 500, up 12%, after delivering a Q3 revenue beat Tuesday.

Ford Motor ( F ) shares dropped 8.4%, the second-worst performer on the S&P 500, after British union Unite said the automaker's UK workers will go on strike starting Wednesday after labor negotiations broke down.

Late Monday, Ford said it expected consolidated adjusted earnings before interest and tax of $10 billion for 2024, at the lower end of its prior $10 billion to $12 billion guidance range.

PayPal ( PYPL ) was the worst performer on the Nasdaq Tuesday, down 4%, after the digital payments company's Q3 revenue grew less than expected, while earnings growth outpaced analysts' views.

The US two-year yield fell 3.1 basis points to 4.11%, while the 10-year rate decreased 1.4 basis points to 4.26%.

In economic news, US consumer confidence outpaced expectations this month, while the annual inflation outlook edged higher, the Conference Board said.

"Consumer confidence recorded the strongest monthly gain since March 2021, but still did not break free of the narrow range that has prevailed over the past two years," Conference Board Chief Economist Dana Peterson said.

US job openings declined last month, while separations rose amid an increase in layoffs, government data showed.

On Friday, the Bureau of Labor Statistics is expected to report that the US economy added 111,000 jobs in October, which would imply a deceleration from last month's 254,000 rise.

US home prices increased to a new record high in August, though the pace of annual growth decelerated to the slowest level since mortgage rates peaked last year, S&P Global ( SPGI ) division S&P Dow Jones Indices said.

Separately, the Federal Housing Finance Agency said home prices grew 0.3% on a seasonally adjusted basis in August, compared with the prior month's upwardly revised 0.2% gain. The consensus was for a 0.1% rise in a survey compiled by Bloomberg.

West Texas Intermediate crude oil fell 0.3% to $67.21 a barrel Tuesday.

Gold increased 1.1% to $2,784.80 per troy ounce, while silver gained 1.8% to $34.63 per ounce.