Traders work on the floor of the New York Stock Exchange on December 18, 2024.
Spencer Pratt | Getty Images
Stocks soared on Tuesday, Christmas Eve, as the market continued its holiday week gains.
of S&P500 Add 1.1% to 6,040.04, Dow Jones Industrial Average It rose 390.08 points (0.91%) to 43,297.03. of Nasdaq Composite It rose 1.35% to 20,031.13, helped by a 7.4% jump. tesla KK. Amazon and meta platform Each rose more than 1%.
The New York Stock Exchange will close early at 1pm (Eastern time) for Christmas Eve, and the bond market will close at 2pm, but the market will also be closed on Wednesday for Christmas.
Tuesday marked the beginning of the seasonal Santa Claus Rally. Santa Claus rallies occur on the last five business days of the year and the first two business days of January. Since 1950, the S&P 500 index has returned an average of 1.3% over this period, significantly outperforming the market’s seven-day average return of 0.3%, according to LPL Research.
“There’s a lot of good things to think about, but at the same time the market is recovering so it’s best to temper your enthusiasm,” Paul Hickey, co-founder of Bespoke Investment Group, told CNBC’s “Squawk Box.” I think so,” he said. . ”
The S&P 500 rose 1.8% this week after two consecutive days of wins, and the Dow Jones Industrial Average rose about 1%. Strong gains in mega-cap tech stocks have pushed the Nasdaq index up 2.3% since the start of the week.
The S&P 500 also rose 0.1% following this week’s gains, turning green for the first time in the month. The tech-heavy Nasdaq rose 4.2% in December, with Google’s parent company joining in. alphabet 16% increase; apple rose nearly 9%, tesla The increase rate since the beginning of the month is about 34%. However, the blue-chip Dow Jones Industrial Average is still down about 3.6% in December, its worst monthly performance since April.
american airlines Shares fluctuated Tuesday after the airline temporarily grounded all flights in the United States due to technical issues on the busiest day of the year. The stock closed up 0.6%.
