Stocks moved lower Tuesday, giving up early gains, as Treasury yields rose after strong economic data 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.

Jensen Huang unveils the chip designer’s next-generation gaming graphics cards at the CES tech trade show in Las Vegas on Monday.

Ten-year Treasury yields were hovering just shy of their highest since last May, and the 30-year yield was close to its highest since November 2023, as investors continued to show concern that President-elect Trump’s import tariff and immigration plans may revive inflationary pressures.