{"id":48636,"date":"2024-12-26T22:01:38","date_gmt":"2024-12-26T22:01:38","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-recap-wall-street-edges-higher-in-post-holiday-trading\/48636\/"},"modified":"2024-12-26T22:01:38","modified_gmt":"2024-12-26T22:01:38","slug":"stock-market-recap-wall-street-edges-higher-in-post-holiday-trading","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-wall-street-edges-higher-in-post-holiday-trading\/48636\/","title":{"rendered":"Stock Market Recap: Wall Street Edges Higher in Post-Holiday Trading"},"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-wall-street-edges-higher-in-post-holiday-trading\/48636\/#Market_Performance_Major_Indexes_Close_in_Positive_Territory\" >Market Performance: Major Indexes Close in Positive Territory<\/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-wall-street-edges-higher-in-post-holiday-trading\/48636\/#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-wall-street-edges-higher-in-post-holiday-trading\/48636\/#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-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-wall-street-edges-higher-in-post-holiday-trading\/48636\/#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-recap-wall-street-edges-higher-in-post-holiday-trading\/48636\/#Market_Outlook_and_Analyst_Perspectives\" >Market Outlook and Analyst Perspectives<\/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-wall-street-edges-higher-in-post-holiday-trading\/48636\/#Conclusion_A_Positive_End_to_a_Volatile_Year\" >Conclusion: A Positive End to a Volatile Year<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance_Major_Indexes_Close_in_Positive_Territory\"><\/span>Market Performance: Major Indexes Close in Positive Territory<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a holiday-shortened trading session on Thursday, December 26, 2024, Wall Street managed to eke out modest gains, continuing the positive momentum from the pre-Christmas rally. The <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average<\/b> closed up 52 points, or 0.1%, while the <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a><\/b> and <b>Nasdaq Composite<\/b> ended the day relatively flat, showing resilience in the face of thin trading volumes.<\/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 performance can be attributed to several factors:<\/p>\n<p>1. <b>Santa Claus Rally:<\/b> Investors are hopeful for a strong finish to the year, as the so-called &#8220;Santa Claus rally&#8221; period began on Tuesday. Historically, this phenomenon has seen the S&#038;P 500 gain an average of 1.3% during the last five trading days of December and the first two of January.<\/p>\n<p>2. <b>Megacap Tech Strength:<\/b> The market&#8217;s gains were largely driven by the continued strong performance of megacap technology stocks. Companies like Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>), Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>), Alphabet (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>), Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>), Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>), Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>), and Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>) have been significant contributors to the S&#038;P 500&#8217;s impressive 28.4% total return in 2024.<\/p>\n<p>3. <b>Economic Data:<\/b> The latest jobless claims report showed a slight decrease to 219,000 for the week ending December 21, beating expectations and suggesting continued resilience in the labor market.<\/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>Several stocks made significant moves during the trading session:<\/p>\n<p>&#8211; <b>GameStop (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GME\">GME<\/a>):<\/b> Shares jumped more than 4%, extending gains from earlier in the week. The video game retailer has risen for four consecutive days and is up over 77% in 2024.<br \/>&#8211; <b>Crypto-related stocks:<\/b> Companies linked to cryptocurrency prices, such as MicroStrategy and Coinbase, experienced some volatility as Bitcoin briefly surpassed $100,000 before retreating.<br \/>&#8211; <b>Honda (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=HMC\">HMC<\/a>):<\/b> U.S.-listed shares rose more than 4%, bringing the week&#8217;s advance to about 14%, following merger talks with Nissan and amid a broader rally in Asia-Pacific stocks.<\/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 upcoming events that could impact market performance:<\/p>\n<p>1. <b>Year-End Portfolio Rebalancing:<\/b> As 2024 comes to a close, institutional investors may engage in portfolio rebalancing, potentially leading to increased market activity.<br \/>2. <b>Federal Reserve Watch:<\/b> Markets continue to digest the Fed&#8217;s recent projections of fewer interest rate cuts in 2025, which could influence trading patterns in the coming days.<br \/>3. <b>Economic Data Releases:<\/b> While the holiday period typically sees fewer economic reports, investors will be watching for any surprise data that could affect market sentiment.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook_and_Analyst_Perspectives\"><\/span>Market Outlook and Analyst Perspectives<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we approach the end of 2024, market analysts are cautiously optimistic about the near-term outlook:<\/p>\n<p>&#8211; Michael Zinn, UBS Wealth Management&#8217;s senior portfolio manager, commented on CNBC&#8217;s &#8220;Squawk Box&#8221;: &#8220;The Santa Claus Rally may be alive and well. We&#8217;ll see, or it could be tough sledding. It&#8217;s a sleepy time of year. The institutions aren&#8217;t really trading. It&#8217;s a little bit more retail driven.&#8221;<br \/>&#8211; Howard Silverblatt, S&#038;P Dow Jones Indices Senior Index Analyst, highlighted the significant impact of the &#8220;Magnificent Seven&#8221; stocks on the S&#038;P 500&#8217;s performance, noting that without these tech giants, the benchmark index&#8217;s total return would have been 13.2% in 2024.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_A_Positive_End_to_a_Volatile_Year\"><\/span>Conclusion: A Positive End to a Volatile Year<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As 2024 draws to a close, the stock market appears poised to end on a high note, despite facing various challenges throughout the year. The resilience of major indexes, coupled with the strong performance of technology stocks, has helped propel U.S. equities to impressive gains. However, investors remain cautious as they monitor upcoming economic data and potential market-moving events in the early days of 2025.<\/p>\n<p>With the Santa Claus rally period underway and optimism surrounding year-end trading, market participants will be closely watching to see if this positive momentum can carry through into the new year, potentially setting the tone for what lies ahead in the ever-dynamic world of finance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Performance: Major Indexes Close in Positive Territory In a holiday-shortened trading session on Thursday, December 26, 2024, Wall Street 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