12:21 PM EST, 12/02/2024 (MT Newswires) -- The Nasdaq and the S&P 500 extended rallies to records in midday Monday trading, and the Dow Jones Industrial Average eased as traders digested new economic data in the first session of December.

The Nasdaq rose 1.1% to 19,428.27 after touching 19.435.4 and the S&P 500 was up 0.3% to 6,049.9 after reaching 6,050.1. The Dow retreated 0.2% to 44,800.1.

Communication services, technology and consumer discretionary were the only gainers intraday, while the utilities and energy sectors were the biggest decliners.

In economic news, the Institute for Supply Management's US manufacturing index increased to 48.4 in November from 46.5 in the previous month, above the expected 47.6 reading in a survey compiled by Bloomberg but still indicating contraction.

US construction spending rose by 0.4% in October, compared with a 0.2% increase expected in a survey compiled by Bloomberg and following an unrevised 0.1% increase in September.

In company news, Intel ( INTC ) Chief Executive Officer Pat Gelsinger retired, and Chief Financial Officer David Zinser and Michelle Johnston Holthaus, who previously served as general manager of the client computing group, were named interim co-CEOs as the board searches for a new leader. Intel ( INTC ) shares climbed 4.4%.

Stellantis ( STLA ) shares slid 6.6% after the resignation of CEO Carlos Tavares. An interim executive committee led by Chairman John Elkann will take over. The search process for a permanent CEO is expected to be completed in H1.

The US 10-year Treasury yield fell 1.2 basis points to 4.18%. The two-year rate rose 1.8 basis points to 4.19%.

The US Dollar Index was up 0.7% to 106.47.

West Texas Intermediate crude fell 0.2% to $67.86 per barrel.

Gold was down 0.6% to $2,665.10 an ounce, and silver slid 0.6% to $30.93 an ounce.