US Stock Indexes Rise Ahead of Christmas Holiday

On Tuesday, December 24, 2024, stocks on Wall Street closed higher as investors looked forward to the Christmas holiday. The significant gains were particularly driven by major technology companies, also known as Big Tech. The S&P 500 index climbed by 1.1%, rising a total of 65.97 points to reach 6,040.04.

Market Performance

The Dow Jones Industrial Average also showed positive movement, increasing by 0.9% and gaining 390.08 points, which brought it to 43,297.03. Meanwhile, the Nasdaq composite experienced an even larger jump, rising by 1.3% or 266.24 points, finishing at 20,031.13. In addition, the Russell 2000 index, which tracks smaller companies, added 22.42 points or 1%, closing at 2,259.85.

Treasury Yields and Individual Stocks

Heading into the holiday season, trading wrapped up early. Throughout the day, tech giants such as Apple, Amazon, and semiconductor firm Broadcom were major contributors to the market's rise. American Airlines saw an early decline but managed to recover and finished the day mostly higher after the airline briefly suspended flights across the country due to a technical problem. It is worth noting that Treasury yields remained stable in the bond market during this trading session.

Weekly and Yearly Overview

For the week overall, the S&P 500 has increased by 109.19 points or 1.8%. The Dow has gained 456.77 points, reflecting a rise of 1.1%. The Nasdaq, showing strong performance, has added 458.53 points, which amounts to a 2.3% rise. The Russell 2000 index shows a smaller increase of 17.48 points or 0.8%.

Looking at the yearly results, the S&P 500 has surged 1,270.21 points or 26.3% since the beginning of the year. The Dow is up by 5,607.49 points or 14.9%, and the Nasdaq has risen by 5,019.77 points or 33.4%. The Russell 2000 index finished the year with a 232.78 point increase, translating to an 11.5% rise. Overall, this year has been a very strong year for US equity markets.

Stocks, Market, Technology