S&P 500 near all-time high as Dow Nasdaq move: US stock market today: Wall Street Santa Claus rally — S&P 500 trades near record highs, Dow and Nasdaq on the move
Tuesday’s rally pushed the S&P 500 to a record close of 6,909.79, maintaining momentum heading into the end of the year. Investors are balancing strong economic data with expectations for future rate cuts. US Department of Commerce reported third quarter GDP growth of 4.3%, well above forecasts. Data briefly dampened hopes for an early rate cut, but futures markets still point to two rate cuts by the end of 2026. CME Group data.
Individual stocks also attracted attention. Nike jumped more than 4% after Tim Cook announced his personal share purchase. with New York Stock Exchange With the early close of Christmas Eve, investors are watching closely to see if seasonal gains will carry markets higher into the new year.
S&P 500 trades near record highs as holiday volumes decline
Early in Wednesday’s shortened session, the S&P 500 was trending just below flat after the opening bell. The Dow rose about 0.2% while the Nasdaq fell about 0.1%. Trading volumes decreased and small moves increased as many corporate desks were understaffed ahead of Christmas.
Despite the quiet trend, the benchmark index is up 1.1% so far this week and is up roughly 17.5% since the beginning of the year. Investors remain reluctant to see the rally fade as expansion slows and cyclical sectors gain new attention.
Dow rises while Nasdaq declines as holiday trading remains muted
Trading activity decreased with the opening bell, reflecting the shortening of the holiday session. Dow Jones Industrial Average While it gained approximately 0.2% in value, Nasdaq Composite fell about 0.1%. Investors avoided big bets and focused on selective opportunities as liquidity remained weak.
So far this week, the S&P 500 is up about 1.1%, bringing its year-to-date gain close to 17.5%. The steady rise strengthened confidence that the market could maintain high levels until the end of the year.
Nike jumped as Tim Cook’s statement boosted investors’ confidence
Nike It was among the best performers of the session, up more than 4%. The move came after the following statement: Tim Cookgeneral manager AppleBought the shares of the shoe giant. The news helped revive sentiment towards Nike after months of uneven performance.
Technology stocks that led Tuesday’s rally were mixed. Nvidia, Alphabet, broadcomAnd Amazon Consolidated recent gains contributed to Nasdaq’s slight pullback.
Today’s biggest winners and losers
Top earners
- Dynavax Technologies (DVAX) jumped 38.54% with $15.42 It approached its 52-week high with heavy volume.
- Dermata Therapeutics (DRMA) rose 23.01% with $2.51It extends a sharp acceleration run.
- Repair Therapeutics (RPTX) acquired 19.35% with $2.59supported by strong trading activity.
- TNL Mediagene (TNMG) rose 14.19% with $3.14 in the middle of high volume.
- UiPath (PATH) developed 5.33% with $16.81continues a steady recovery.
- Nike (NKE) climbed 4.51% with $59.93rose with renewed investor confidence.
Biggest losers
- Tesla (TSLA) fallen 0.72% with $482.06It is retreating from recent highs.
- Nvidia (NVDA) slipped 0.47% with $188.32 as chip stocks cool.
- Intel (INTC) rejected 1.92% with $35.65 modest selling pressure on.
Markets remained selective; Biotech and premium consumer names led gains, while mega-cap technology traded mixed.
GDP growth exceeded forecasts
Investor sentiment was also shaped by fresh economic data. US Department of Commerce reported that GDP grew by 4.3% on an annual basis in the third quarter, well above the 3.2% forecast of economists surveyed. Dow Jones. The report, delayed by the government shutdown, highlighted stronger-than-expected economic momentum.
While the data briefly cooled expectations for an early interest rate cut, futures markets still point to easing. according to CME Group Traders continue to price in two rate cuts by the end of 2026, according to the FedWatch Tool.
Santa’s optimism builds towards Christmas
Attention now turns to the Santa Claus rally period, which covers the last five trading days of December and the first two sessions of January. This year it runs from December 24 to January 5.
Accordingly LPL Financial strategist Adam TurnquistThe S&P 500 has historically averaged gains of 1.3% during this window, with nearly 80% of those yielding positive returns.
New York Stock Exchange It will close early at 1pm ET on Christmas Eve and remain closed on Christmas Day, setting the stage for a quiet but closely watched end to the trading year.
