Stocks closed sharply lower Tuesday, after retreating from early-session gains, as Treasury yields rose following the release of fresh economic data that raised questions about where interest rates are headed.

The Dow Jones Industrial Average and other major indexes traded higher Tuesday, as Wall Street awaited employment data due out just after the stock market open. Leading the pack was Nvidia, which rallied to record highs in premarket action after Chief Executive Jensen Huang unveiled new artificial intelligence initiatives at CES 2025.

U.S. stock indexes are rising Monday to recover more of the holiday-season slide that bridged the new year. The S&P 500 was 0.8% higher in afternoon trading and on track for a second straight jump following five straight losses,