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The major averages eventually ended the day mixed. While the Dow dipped 76.47 points (0.2%) to 44,705.53, the Nasdaq rose 76.96 points (0.4%) to 19,480.91 and the S&P 500 crept up 2.73 points (0.1%) to 6,049.88.
The Labor Department said job openings climbed to 7.74 million in October from a downwardly revised 7.37 million in September. The economic calendar picks up in the coming days, with the Labor Department due to release its closely watched monthly jobs report on Friday.
Traders are awaiting reports on private sector employment, service sector activity and consumer sentiment as well as remarks by several Federal Reserve officials including Fed Chair Jerome Powell. The data and remarks could impact the outlook for interest rates ahead of the Fed's next monetary policy meeting later this month. CME Group's FedWatch Tool is currently indicating a 72.1% chance the Fed cuts rates by another 25 bps but a 27.9% chance the central bank leaves rates unchanged.
Gold stocks substantially moved upwards with the NYSE Arca Gold Bugs Index spiking by 3.5%. transportation stocks moved sharply lower on the day, dragging the Dow Jones Transportation Average down by 2%. Computer hardware and biotechnology stocks saw notable weakness, with the NYSE Arca Computer Hardware Index and the NYSE Arca Biotechnology Index both falling by 1.2%.
Asia-Pacific stocks moved mostly higher during trading on Tuesday. Japan's Nikkei 225 Index surged by 1.9% while China's Shanghai Composite Index rose by 0.4%. The major European markets also moved to the upside on the day. While the U.K.'s FTSE 100 Index advanced by 0.6%, the German DAX Index climbed by 0.4% and the French CAC 40 Index increased by 0.3%.
In the bond market, treasuries showed a lack of direction over the course of the session before closing modestly lower. Subsequently, the yield on the benchmark ten-year note which moves opposite of its price, rose 2.7 bps to 4.22%.
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