{"id":48626,"date":"2024-12-25T19:01:35","date_gmt":"2024-12-25T19:01:35","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-santa-claus-rally-continues-on-christmas-day-2024\/48626\/"},"modified":"2024-12-25T19:01:35","modified_gmt":"2024-12-25T19:01:35","slug":"market-recap-santa-claus-rally-continues-on-christmas-day-2024","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-santa-claus-rally-continues-on-christmas-day-2024\/48626\/","title":{"rendered":"Market Recap: Santa Claus Rally Continues on Christmas Day 2024"},"content":{"rendered":"<p>As the markets closed on Wednesday, December 25, 2024, investors were treated to a continuation of the &#8220;Santa Claus Rally,&#8221; with major indexes posting gains in a holiday-shortened trading session. This upbeat performance comes as traders digest recent Federal Reserve commentary and look ahead to key economic events in the coming days.<\/p>\n<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\/market-recap-santa-claus-rally-continues-on-christmas-day-2024\/48626\/#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-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-santa-claus-rally-continues-on-christmas-day-2024\/48626\/#Sector_Performance_and_Notable_Movers\" >Sector Performance and Notable Movers<\/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\/market-recap-santa-claus-rally-continues-on-christmas-day-2024\/48626\/#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-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-santa-claus-rally-continues-on-christmas-day-2024\/48626\/#Federal_Reserve_Outlook_and_Market_Sentiment\" >Federal Reserve Outlook and Market Sentiment<\/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\/market-recap-santa-claus-rally-continues-on-christmas-day-2024\/48626\/#Cryptocurrency_and_Commodities\" >Cryptocurrency and Commodities<\/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\/market-recap-santa-claus-rally-continues-on-christmas-day-2024\/48626\/#Looking_Ahead\" >Looking Ahead<\/a><\/li><\/ul><\/nav><\/div>\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>The <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> (^GSPC) finished the session up 1.1%, closing at 5,974.07. This puts the benchmark index within striking distance of the 6,000 mark, a level that seemed improbable just a few weeks ago. The tech-heavy Nasdaq Composite (^IXIC) outperformed, rising 1.4% to 20,031.13, while the <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (^DJI) climbed 0.9% to 43,297.03.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sector_Performance_and_Notable_Movers\"><\/span>Sector Performance and Notable Movers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Technology stocks led the charge, with the Technology Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLK\">XLK<\/a>) gaining 0.9%. <b>Nvidia Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>)<\/b> continued its impressive run, rising 3.7% as investors remain bullish on its artificial intelligence prospects. <b>Tesla, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b> was another standout performer, surging 7.4% to close at $462.28.<\/p>\n<p>Other notable gainers included <b>Meta Platforms, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>)<\/b>, which rose 2.5%, and <b>Alphabet Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>)<\/b>, which added 1.6%. <b>Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>)<\/b> and <b>Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>)<\/b> also posted modest gains, while <b>Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>)<\/b> was one of the few tech giants to see a slight decline, falling 0.3%.<\/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 are keeping a close eye on several key economic reports scheduled for release in the coming days:<\/p>\n<p>1. Initial Jobless Claims (December 26): Economists expect 225,000 new claims, slightly higher than the previous week&#8217;s 220,000.<br \/>2. Advanced U.S. Trade Balance in Goods (December 27): The previous deficit stood at $98.3 billion.<br \/>3. Chicago Business Barometer (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PMI\">PMI<\/a>) (December 30): This will provide insights into the manufacturing sector&#8217;s health in the Midwest region.<br \/>4. Pending Home Sales (December 30): After a 2.0% increase in the previous month, this report will offer a glimpse into the housing market&#8217;s current state.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Federal_Reserve_Outlook_and_Market_Sentiment\"><\/span>Federal Reserve Outlook and Market Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite the recent rally, market participants remain cautious about the Federal Reserve&#8217;s future policies. The CME FedWatch tool indicates a 91.4% probability that the Fed will keep rates unchanged at its January meeting. This has created some uncertainty regarding the economic outlook for 2025.<\/p>\n<p><b>Investors are closely monitoring the potential for interest rate cuts in the coming year. While the Fed has signaled a more dovish stance, the timing and magnitude of any rate reductions remain subjects of intense speculation.<\/b><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cryptocurrency_and_Commodities\"><\/span>Cryptocurrency and Commodities<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The cryptocurrency market also saw significant movement, with <b>Bitcoin (BTC-USD)<\/b> surging to $97,980.22, up 3.97% in the past 24 hours. This rally comes after a brief dip below $93,000 earlier in the week.<\/p>\n<p>In the commodities market, oil prices showed modest gains. West Texas Intermediate crude futures traded at approximately $70.17 per barrel, up 0.10%. <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> futures, meanwhile, saw a slight decline of 0.08%, trading at $2,633.50 per ounce.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead\"><\/span>Looking Ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we approach the end of 2024, the market&#8217;s focus will likely shift to the potential for a sustained &#8220;Santa Claus Rally&#8221; and the economic outlook for 2025. Key factors to watch include:<\/p>\n<p>1. The Federal Reserve&#8217;s interest rate decisions and economic projections<br \/>2. Corporate earnings reports for Q4 2024 and guidance for Q1 2025<br \/>3. Geopolitical developments and their impact on global trade<br \/>4. The ongoing evolution of artificial intelligence and its influence on various sectors<\/p>\n<p><b>With the S&#038;P 500 up 26.6% year-to-date and hovering near all-time highs, investors will be watching closely to see if this momentum can carry into the new year or if a correction is on the horizon.<\/b><\/p>\n<p>As always, investors are advised to maintain a diversified portfolio and consider their long-term financial goals when making investment decisions. The current market optimism, while encouraging, should be tempered with a realistic assessment of potential risks and challenges in the coming year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the markets closed on Wednesday, December 25, 2024, investors were treated to a continuation of the &#8220;Santa Claus Rally,&#8221; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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