Wall Street's main indexes pared some losses Tuesday afternoon with the Nasdaq closing up, and the S&P 500 and the Dow closing lower, impacted by declines in healthcare and energy stocks.

Investors evaluated delayed economic data to gauge the Federal Reserve's monetary policy outlook for next year. A Labor Department report showed nonfarm payrolls increased by 64,000 jobs in November following a decline in October because of government spending cuts.

But the unemployment rate rose to 4.6% in November against the backdrop of economic uncertainty stemming from President Donald Trump's aggressive trade policy.

A separate report on Tuesday showed retail sales were flat in October, just below an estimate of economists polled by Reuters calling for a rise of 0.1%.

Analysts flagged the likelihood of the figures being distorted by slow data collection due to a recent government shutdown.

"This is all fairly old news at this point. Most data points are being viewed in the lens of what they are going to do to the Fed, and the data you got today isn’t likely to move the needle," said Mark Hackett, chief market strategist at Nationwide.

After Tuesday's data, investors are pricing in interest rate cuts of at least 58 basis points next year — more than double the 25 bps signaled by the Fed last week.

Trump is set to interview Fed Governor Christopher Waller on Wednesday for the Federal Reserve chair position, the Wall Street Journal reported Tuesday afternoon.

According to preliminary data, the S&P 500 lost 16.42 points, or 0.24%, to end at 6,800.09 points, while the Nasdaq Composite gained 54.05 points, or 0.23%, to 23,111.46. The Dow Jones Industrial Average fell 302.67 points, or 0.63%, to 48,113.89.

Crude prices hit their lowest level since 2021.

"The crude move today is the one that stands out. Everything else seems like lethargy among investors and just a modest technical move to the sidelines," Hackett said.

In health stocks, Pfizer fell after the drugmaker forecast a challenging 2026 due to weaker sales of COVID-19 products and squeezed margins. Humana slipped after the health insurer announced undefined leadership changes.

The S&P 500 and the Nasdaq hovered near their three-week lows as persistent uncertainty over rate cuts and concerns about lofty tech valuations continued to weigh on market sentiment.

Among other stocks, B. Riley jumped after the investment bank reported a profit for the second quarter, compared with a year-ago loss in an overdue quarterly filing.

Comcast rose after CNBC financial journalist David Faber speculated about potential involvement by an activist investor.

Separately, a Reuters report said Nasdaq submitted paperwork with the U.S. Securities and Exchange Commission to roll out round-the-clock trading of stocks, months after the New York Stock Exchange and Cboe Global Markets announced similar plans.