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Dow Closes at Record for Second Trading Day of 2022, Nasdaq Down

Stocks ended mixed Tuesday, with the Dow closing at a record high for the second day in a row.

The new year is off to a good start for the Dow Jones Industrial Average, which closed Tuesday at a record high for second straight day.

The Dow finished up 214 points, or 0.59%, to 36,799, while the S&P 500 was off 0.06% and the tech-heavy Nasdaq fell 1.33%.

The Dow and the S&P reached intraday records shortly after the open.

Caterpillar  (CAT) - Get Caterpillar Inc. Report, JPMorgan Chase  (JPM) - Get JPMorgan Chase & Co. Report and American Express  (AXP) - Get American Express Company Report were among the Dow's top gainers.

Meanwhile, tech stocks were taking a beating, with such names as Tesla  (TSLA) - Get Tesla Inc Report, Advanced Micro Devices  (AMD) - Get Advanced Micro Devices, Inc. Report and Peloton Interactive  (PTON) - Get Peloton Interactive, Inc. Class A Report pulling down the Nasdaq.

"The second trading day of the New Year marks the end of the Santa rally and, more importantly, the latest updates over how quickly global supply constraints are easing, but sadly that might not last due to omicron," said Edward Moya, senior market analyst for the Americas with Oanda,

Moya added that stocks could not hold onto earlier gains "as tech stocks got pummeled over fears that Treasury yields will go much higher." 

U.S. omicron cases rose above 1 million Monday and President Joe Biden on Tuesday once again urged Americans to get vaccinated, get boosters and to wear masks.

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Halliburton  (HAL) - Get Halliburton Company Report shares surged 6% as crude prices rose and Morgan Stanley upgraded the oil-services company to overweight from equal weight.

Travel and tourism-related shares continued to recover, with Carnival  (CCL) - Get Carnival Corporation Report, Norwegian Cruise  (NCLH) - Get Norwegian Cruise Line Holdings Ltd. Report and Royal Caribbean  (RCL) - Get Royal Caribbean Group Report all finishing higher.

JetBlue  (JBLU) - Get JetBlue Airways Corporation Report, United Airlines  (UAL) - Get United Airlines Holdings, Inc. Report and Southwest  (LUV) - Get Southwest Airlines Co. Report also ended higher.

Apple  (AAPL) - Get Apple Inc. Report shares ended down 1.3% after the tech giant became the first U.S. company to achieve a $3 trillion market capitalization on Monday.

The major averages rose on Monday, boosted by the technology sector, with two of three hitting record highs

The Institute for Supply Management (ISM) said on Tuesday that its index of national factory activity fell to a reading of 58.7 last month. That was the lowest reading since last January and followed 61.1 in November.

A reading above 50 indicates expansion in manufacturing, which accounts for 11.9% of the U.S. economy. Economists polled by Reuters had forecast the index falling to 60.1.

Job vacancies totaled 10.6 million in November, according to the Labor Department's Job Openings and Labor Turnover Summary (JOLTS), which was released Tuesday. 

The results are slightly lower than the 11.091 million in October, based on the government's revised print for the month. Economists were looking for job openings to rise to 11.079 million in November.