{"id":48614,"date":"2024-12-24T12:01:37","date_gmt":"2024-12-24T12:01:37","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-today-nasdaq-leads-gains-as-tech-stocks-rally-on-christmas-eve\/48614\/"},"modified":"2024-12-24T12:01:37","modified_gmt":"2024-12-24T12:01:37","slug":"stock-market-today-nasdaq-leads-gains-as-tech-stocks-rally-on-christmas-eve","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-nasdaq-leads-gains-as-tech-stocks-rally-on-christmas-eve\/48614\/","title":{"rendered":"Stock Market Today: Nasdaq Leads Gains as Tech Stocks Rally on Christmas Eve"},"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-today-nasdaq-leads-gains-as-tech-stocks-rally-on-christmas-eve\/48614\/#Market_Overview_December_24_2024\" >Market Overview: December 24, 2024<\/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-today-nasdaq-leads-gains-as-tech-stocks-rally-on-christmas-eve\/48614\/#Major_Market_Indexes_Performance\" >Major Market Indexes Performance<\/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-today-nasdaq-leads-gains-as-tech-stocks-rally-on-christmas-eve\/48614\/#Key_Stock_Movements_and_Corporate_News\" >Key Stock Movements and Corporate News<\/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-today-nasdaq-leads-gains-as-tech-stocks-rally-on-christmas-eve\/48614\/#Upcoming_Market_Events\" >Upcoming Market Events<\/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-today-nasdaq-leads-gains-as-tech-stocks-rally-on-christmas-eve\/48614\/#Market_Trends_and_Analysis\" >Market Trends and Analysis<\/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-today-nasdaq-leads-gains-as-tech-stocks-rally-on-christmas-eve\/48614\/#Looking_Ahead_Market_Outlook\" >Looking Ahead: Market Outlook<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Overview_December_24_2024\"><\/span>Market Overview: December 24, 2024<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On this Christmas Eve, Tuesday, December 24, 2024, the stock market is showing mixed performance as investors navigate a holiday-shortened trading week. The tech-heavy Nasdaq Composite is leading the charge, continuing its upward momentum from the previous day&#8217;s session.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_Market_Indexes_Performance\"><\/span>Major Market Indexes Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of the latest update:<\/p>\n<p>&#8211; The Nasdaq Composite is up approximately 0.8%<br \/>&#8211; The <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> has gained about 0.5%<br \/>&#8211; The <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average is lagging, trading slightly lower by 0.1%<\/p>\n<p><b>Why is the market up today?<\/b> The primary driver appears to be the continued strength in technology and chip stocks, which are offsetting weaknesses in other sectors.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Stock_Movements_and_Corporate_News\"><\/span>Key Stock Movements and Corporate News<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several major stocks are making significant moves today:<\/p>\n<p>1. <b>Broadcom (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AVGO\">AVGO<\/a>)<\/b>: Shares have climbed approximately 5% after UBS analysts raised their price target, citing strong artificial intelligence (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AI\">AI<\/a>) revenue growth.<\/p>\n<p>2. <b>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>)<\/b>: The chip giant&#8217;s stock is up nearly 3%, continuing its impressive run in the AI-driven market.<\/p>\n<p>3. <b>Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b>: Shares have gained about 3% following Barclays analysts&#8217; suggestion that the electric vehicle manufacturer could report better-than-expected deliveries for the fourth quarter.<\/p>\n<p>4. <b>Eli Lilly (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=LLY\">LLY<\/a>)<\/b>: The pharmaceutical company&#8217;s stock has advanced after the FDA approved its weight-loss drug Zepbound to treat sleep apnea.<\/p>\n<p>5. <b>Xerox Holdings (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XRX\">XRX<\/a>)<\/b>: Shares jumped nearly 7% after announcing a $1.5 billion acquisition of rival Lexmark International.<\/p>\n<p>6. <b>ResMed (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=RMD\">RMD<\/a>)<\/b>: The sleep apnea machine maker&#8217;s stock has slumped following the FDA&#8217;s approval of Eli Lilly&#8217;s Zepbound for sleep apnea treatment.<\/p>\n<p>7. <b>Nordstrom (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=JWN\">JWN<\/a>)<\/b>: Shares fell after the retailer announced it&#8217;s being taken private by its founding family and a Mexican retail group.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events\"><\/span>Upcoming Market Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors should keep an eye on these key events:<\/p>\n<p>1. <b>Holiday-Shortened Trading Week<\/b>: The stock market will close early at 1 p.m. ET on Tuesday (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=today\">today<\/a>) and remain closed on Wednesday for Christmas Day. Regular trading resumes on Thursday morning.<\/p>\n<p>2. <b>Potential Santa Claus Rally<\/b>: Historically, the last five trading days of the year and the first two of the new year often see positive market performance. Investors are hopeful this trend will continue.<\/p>\n<p>3. <b>Economic Data Releases<\/b>: While the economic calendar is light this week, recent data has shown a surprising pullback in consumer confidence for December and lower-than-expected new home sales for November.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Trends_and_Analysis\"><\/span>Market Trends and Analysis<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Stock market news today<\/b> highlights several key trends:<\/p>\n<p>1. <b>Tech Sector Strength<\/b>: Technology and chip stocks continue to drive market gains, with AI-related companies leading the charge.<\/p>\n<p>2. <b>Market Breadth Concerns<\/b>: Despite the S&#038;P 500 and Nasdaq gains, market breadth remains a concern. Only about 190 S&#038;P 500 stocks were set to close higher on Monday, indicating the rally is not broad-based.<\/p>\n<p>3. <b>Treasury Yields<\/b>: The 10-year Treasury yield has ticked up to 4.58%, its highest level since May, following the Federal Reserve&#8217;s scaled-back forecast for future interest rate cuts.<\/p>\n<p>4. <b>Cryptocurrency<\/b>: Bitcoin is trading around $93,000 after recently slipping below the $100,000 mark.<\/p>\n<p>5. <b>Currency and Commodities<\/b>: The dollar is trading at its highest level since 2022, while <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> and oil futures have fallen.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead_Market_Outlook\"><\/span>Looking Ahead: Market Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we approach the end of 2024, the <b>market news today<\/b> suggests a cautiously optimistic outlook. While tech stocks continue to perform well, broader market participation will be crucial for sustained gains. Investors will be closely watching for signs of the traditional Santa Claus rally and any potential impacts from global economic events.<\/p>\n<p>The pharmaceutical sector, particularly companies involved in weight-loss treatments and sleep apnea solutions, appears to be emerging as a beacon of stability and growth as we head into 2025.<\/p>\n<p>As always, investors are advised to stay informed about <b><a href=\"https:\/\/stockmarketwatch.com\/live\/stock-market-today\" data-internallinksmanager029f6b8e52c=\"6\" title=\"Stock Market Today\">stock market today<\/a><\/b> developments and consider their individual financial goals and risk tolerance when making investment decisions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: December 24, 2024 On this Christmas Eve, Tuesday, December 24, 2024, the stock market is showing mixed performance 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