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Stock Market Today: Stocks Soar to Start the Santa Claus Rally

Stock Market Today: Stocks Soar to Start the Santa Claus Rally


Published on 2024-12-24 14:00:57 - Kiplinger
  Print publication without navigation

  • Big tech names once again led stocks higher on Tuesday. Tesla ( TSLA) led the S&P 500 higher with a gain of 7.4%, while Super Micro Computer ( SMCI) was the second-best-performing stock in the index, rising 6%. And Broadcom ( AVGO) continued its remarkable rally by rising another 3.2%.

The article from Kiplinger discusses the stock market's performance on the first day of the traditional "Santa Claus Rally," a period known for positive market returns at the end of the year. On this day, major U.S. stock indexes like the Dow Jones Industrial Average, S&P 500, and Nasdaq all saw significant gains. The Dow Jones rose by 322 points, or 0.9%, the S&P 500 increased by 1.4%, and the Nasdaq climbed by 1.8%. This surge was attributed to several factors including a drop in Treasury yields, with the 10-year Treasury yield falling to 4.29%, and positive economic indicators suggesting a potential soft landing for the economy. Additionally, the market was buoyed by optimism around the Federal Reserve's monetary policy, with expectations of rate cuts in the coming year. The article also mentions that despite these gains, the market's performance was mixed over the week, with concerns about inflation and economic growth still lingering.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/stock-market-today-stocks-soar-to-start-the-santa-claus-rally ]

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