04:26 PM EST, 12/30/2024 (MT Newswires) -- US benchmark equities ended lower Monday in the penultimate trading session of 2024.

The Nasdaq fell 1.2% to 19,486.8, the S&P 500 lost 1.1% to 5,906.94 and the Dow Jones Industrial Average fell nearly 1% to 42,573.73. Consumer discretionary, materials, and health led the decliners among sectors.

The New York Stock Exchange and the Nasdaq announced they will close trading on Jan. 9 to observe the passing of former President Jimmy Carter. The Securities Industry and Financial Markets Association recommended an early market close on that day for bond trading.

In economic news, pending home sales rose by 2.2% in November, higher than a 0.8% gain expected in a survey compiled by Bloomberg and following a 1.8% increase in October, according to the National Association of Realtors.

The Institute for Supply Management's Chicago PMI reading dropped to 36.9 in December from 40.2 in November, compared with an expected 42.7 in a survey compiled by Bloomberg.

In corporate news, TikTok-owner ByteDance plans to spend up to $7 billion on Nvidia's ( NVDA ) advanced AI chips outside China in 2025, The Information reported. Separately, Nvidia ( NVDA ) completed its acquisition of AI software company Run:ai, according to a blog post from Run:ai. Nvidia ( NVDA ) shares were up 0.4% at close.

Boeing ( BA ) shares ended down 2.3% after multiple media outlets reported that South Korea's transport ministry will inspect Boeing ( BA ) planes operated by airlines in the country following the crash of one of the planemaker's 737-800 aircraft.

The US 10-year Treasury yield fell eight basis points to 4.54%. The two-year rate slid seven basis points to 4.25%.

West Texas Intermediate crude rose 0.8% to $71.14 per barrel.