{"id":48612,"date":"2024-12-23T22:01:37","date_gmt":"2024-12-23T22:01:37","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-nasdaq-edge-higher-dow-slips-on-december-23-2024\/48612\/"},"modified":"2024-12-23T22:01:37","modified_gmt":"2024-12-23T22:01:37","slug":"stock-market-recap-sp-500-and-nasdaq-edge-higher-dow-slips-on-december-23-2024","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-nasdaq-edge-higher-dow-slips-on-december-23-2024\/48612\/","title":{"rendered":"Stock Market Recap: S&#038;P 500 and Nasdaq Edge Higher, Dow Slips on December 23, 2024"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-nasdaq-edge-higher-dow-slips-on-december-23-2024\/48612\/#Market_Performance_A_Mixed_Bag\" >Market Performance: A Mixed Bag<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-nasdaq-edge-higher-dow-slips-on-december-23-2024\/48612\/#Why_Was_the_Market_Up_Today\" >Why Was the Market Up Today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-nasdaq-edge-higher-dow-slips-on-december-23-2024\/48612\/#Sector_Spotlight\" >Sector Spotlight<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-nasdaq-edge-higher-dow-slips-on-december-23-2024\/48612\/#Notable_Stock_Movements\" >Notable Stock Movements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-nasdaq-edge-higher-dow-slips-on-december-23-2024\/48612\/#Economic_Indicators_and_Upcoming_Events\" >Economic Indicators and Upcoming Events<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-nasdaq-edge-higher-dow-slips-on-december-23-2024\/48612\/#Market_Outlook_and_Upcoming_Events\" >Market Outlook and Upcoming Events<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-nasdaq-edge-higher-dow-slips-on-december-23-2024\/48612\/#Global_Market_Influences\" >Global Market Influences<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-nasdaq-edge-higher-dow-slips-on-december-23-2024\/48612\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance_A_Mixed_Bag\"><\/span>Market Performance: A Mixed Bag<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The stock market closed with mixed results on Monday, December 23, 2024, in a holiday-shortened week. The <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> and Nasdaq Composite edged higher, while the <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average slightly dipped. Here&#8217;s a breakdown of the major index performances:<\/p>\n<p>&#8211; S&#038;P 500 (^GSPC): Up 0.55% to 5,963.39<br \/>&#8211; Nasdaq Composite (^IXIC): Gained 0.90% to 19,748.39<br \/>&#8211; Dow Jones Industrial Average (^DJI): Slipped 0.04% to 42,824.66<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Was_the_Market_Up_Today\"><\/span>Why Was the Market Up Today?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The market&#8217;s positive tilt can be attributed to several factors:<\/p>\n<p>1. <b>Inflation Optimism:<\/b> A benign reading on U.S. inflation last week restored hope for potential policy easing in 2024.<br \/>2. <b>Tech Sector Strength:<\/b> Semiconductor stocks led the gains, with notable performances from industry leaders.<br \/>3. <b>Holiday Season Expectations:<\/b> Investors are hopeful for a &#8220;Santa Claus rally&#8221; as the year comes to a close.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sector_Spotlight\"><\/span>Sector Spotlight<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Consumer Discretionary:<\/b> This sector (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLY\">XLY<\/a>) showed strength in early trading, reflecting optimism about consumer spending during the holiday season.<\/p>\n<p><b>Technology:<\/b> Semiconductor stocks were the day&#8217;s standout performers:<br \/>&#8211; Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>): Up over 3%, continuing its stellar year<br \/>&#8211; Advanced Micro Devices (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMD\">AMD<\/a>): Surged more than 5% after being named a top pick for 2025 by Rosenblatt Securities<br \/>&#8211; Broadcom (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AVGO\">AVGO<\/a>): Climbed 5% following a price target increase from UBS analysts<br \/>&#8211; Taiwan Semiconductor (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSM\">TSM<\/a>): Edged higher, contributing to the sector&#8217;s gains<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Notable_Stock_Movements\"><\/span>Notable Stock Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&#8211; Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>): Gained nearly 3% on expectations of strong Q4 deliveries<br \/>&#8211; Eli Lilly (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=LLY\">LLY<\/a>): Shares advanced after FDA approval of its Zepbound drug for sleep apnea treatment<br \/>&#8211; Xerox Holdings (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XRX\">XRX<\/a>): Jumped 7% on news of its $1.5 billion acquisition of Lexmark International<br \/>&#8211; Palantir (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PLTR\">PLTR<\/a>) and MicroStrategy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSTR\">MSTR<\/a>): Both companies made their debut as components of the Nasdaq 100 index<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Indicators_and_Upcoming_Events\"><\/span>Economic Indicators and Upcoming Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&#8211; <b>Consumer Confidence:<\/b> Surprisingly declined in December, marking the largest month-over-month drop since November 2020<br \/>&#8211; <b>New Home Sales:<\/b> Fell short of expectations in November<br \/>&#8211; <b>Treasury Yields:<\/b> The 10-year yield reached 4.58%, its highest level since May<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook_and_Upcoming_Events\"><\/span>Market Outlook and Upcoming Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are closely watching the Federal Reserve&#8217;s interest rate policy for 2024. Current expectations, based on the CME FedWatch tool, show:<br \/>&#8211; A 50-50 chance of a rate cut vs. hold for the Fed&#8217;s March meeting<br \/>&#8211; Continued debate over the pace and timing of potential rate cuts<\/p>\n<p><b>Holiday Trading Schedule:<\/b><br \/>&#8211; Tuesday, December 24: Market closes at 1 p.m. ET<br \/>&#8211; Wednesday, December 25: Markets closed for Christmas<br \/>&#8211; Thursday, December 26: Regular trading resumes<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Market_Influences\"><\/span>Global Market Influences<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&#8211; <b>Asian Markets:<\/b> Showed strength, with Japan&#8217;s Nikkei gaining 0.7% and South Korea&#8217;s KOSPI firming 0.9%<br \/>&#8211; <b>Currency Markets:<\/b> The U.S. dollar index held near two-year highs<br \/>&#8211; <b>Commodities:<\/b> <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> and oil futures experienced slight declines<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we head into the final days of 2024, the market&#8217;s performance reflects a mix of optimism and caution. While tech stocks, particularly in the semiconductor sector, continue to drive gains, investors remain watchful of economic indicators and the Federal Reserve&#8217;s future moves. The holiday-shortened week may bring reduced trading volumes but could still see significant movements as year-end positioning takes place.<\/p>\n<p>Investors should stay tuned for any surprise announcements or economic data releases that could impact market sentiment in these final trading days of the year. As always, it&#8217;s advisable to maintain a diversified portfolio and consult with financial advisors for personalized investment strategies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Performance: A Mixed Bag The stock market closed with mixed results on Monday, December 23, 2024, in a holiday-shortened 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