04:57 PM EST, 12/03/2024 (MT Newswires) -- The S&P 500 and the Nasdaq Composite stretched their record-high closing runs into Tuesday as markets analyzed the official job openings report for October.

The technology-heavy Nasdaq rose 0.4% to 19,480.9, while the S&P 500 ticked 0.1% higher to 6,049.9. The Dow Jones Industrial Average fell 0.2% to 44,705.5. Communication services led the gainers among sectors, while utilities saw the biggest drop.

In economic news, US job openings rose to 7.74 million as of the last day of October from the previous month's 7.37 million print, according to the Bureau of Labor Statistics' job openings and labor turnover survey. The consensus was for a 7.52 million level in a survey compiled by Bloomberg.

On balance, the data indicate "a still strong, albeit cooling," labor market, Oxford Economics said.

The labor market in the US is solid, while inflation seems to be on a path to policymakers' 2% target, even if there have been "some bumps" along the way, Federal Reserve Governor Adriana Kugler said.

The probability of a 25-basis-point reduction in interest rates at the Fed's meeting later this month jumped to 70% Tuesday from 62% Monday, according to the CME FedWatch tool.

Online spending this Cyber Monday advanced more than projected to a record $13.3 billion, according to Adobe (ADBE) Analytics' holiday shopping data.

The US 10-year yield increased 3.2 basis points to 4.23% Tuesday, while the two-year rate fell 1.9 basis points to 4.18%.

In company news, Palantir Technologies ( PLTR ) said it has been granted FedRAMP 'high authorization' for its cloud services, allowing the company to provide its offerings to more US government units. The company's shares jumped 6.9%, the top gainer on the S&P 500.

AT&T ( T ) was among the best performers on the S&P 500, up 4.6%, after the telecommunications giant outlined its long-term outlook, including returning more than $40 billion to shareholders and expanding its fiber network to more than 50 million locations in the US.

Microchip Technology ( MCHP ) shares declined 7%, the worst performer on the S&P 500 and the Nasdaq. The company said late Monday it expected its fiscal third-quarter revenue to be close to the low end of its previously outlined guidance range of $1.03 billion to $1.10 billion.

Intel ( INTC ) saw the second-steepest decline on the S&P 500 and the Nasdaq Tuesday, down 6.1%. The chipmaker is considering outside candidates to fill its vacant chief executive position, including Marvell Technology ( MRVL ) CEO Matt Murphy, Bloomberg News reported, citing unnamed sources. Pat Gelsinger retired as Intel ( INTC ) CEO Sunday.

West Texas Intermediate crude oil rose 2.7% to $69.91 a barrel Tuesday.

Gold gained 0.3% to $2,665.70 per troy ounce, while silver jumped 2.1% to $31.51 per ounce.