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Wall Street Steadies Ahead of Christmas Holiday

Stock market news/ Wall Street Christmas Eve/ tech stock gains/ U.S. Treasury yields/ market holiday hours/ NEW YORK/ Newslooks/ J. Mansour/ Morning Edition/ U.S. stock indexes saw slight gains Tuesday morning, buoyed by advances in technology stocks despite weaknesses in health care and energy sectors. The S&P 500 rose 0.4%, with the Dow adding 14 points and the Nasdaq climbing 0.7%. Treasury yields also edged higher, while European and Asian markets posted mostly positive results. U.S. markets will close early for Christmas Eve and remain closed on Christmas Day.

A scooter passes the New York Stock Exchange in New York’s Financial District on Tuesday, Dec. 17, 2024. (AP Photo/Peter Morgan)

Wall Street Holds Steady Before Christmas: Quick Looks

  • Market Performance: The S&P 500 rose 0.4%, the Nasdaq gained 0.7%, and the Dow added 14 points.
  • Tech Leads Gains: Broadcom and Nvidia helped offset losses in health care and energy stocks.
  • Notable Movers: American Airlines fell 1.2% after a brief flight grounding; U.S. Steel dipped 0.5%.
  • Treasury Yields: The 10-year Treasury yield rose slightly to 4.62%.
  • Holiday Schedule: U.S. markets will close early Tuesday and remain closed on Christmas Day.

Wall Street Steadies Ahead of Christmas Holiday

Deep Look

Wall Street held near breakeven in Tuesday morning trading, with major indexes making modest gains ahead of the Christmas holiday. Investors saw the S&P 500 rise by 0.4%, while the Dow Jones Industrial Average edged up 14 points (0.1%), and the tech-heavy Nasdaq composite added 0.7%. Gains in technology and financial stocks helped balance losses in health care and energy, keeping the overall market steady.

Tech Stocks Lead the Charge

The technology sector led the day’s advances, with notable contributions from semiconductor companies. Broadcom saw a 1.3% rise, and Nvidia, whose massive market capitalization significantly influences indexes, climbed 1.2%. These gains helped offset declines in other sectors, including health care and energy.

Mixed Results for Individual Stocks

American Airlines faced a 1.2% decline after briefly grounding flights nationwide due to a technical issue, raising investor concerns. Meanwhile, U.S. Steel dipped 0.5% following news that a government panel failed to reach consensus on potential national security risks tied to the company’s proposed $15 billion sale to Japan’s Nippon Steel.

Treasury Yields and Global Markets

In the bond market, Treasury yields ticked upward, with the 10-year Treasury yield rising to 4.62% from 4.59% late Monday. Globally, European markets posted mostly positive results, and Asian markets also gained ground, contributing to a generally optimistic trading environment.

Holiday Schedule and Economic Outlook

U.S. markets will close early at 1 p.m. Eastern time on Christmas Eve and remain closed on Christmas Day. Looking ahead, Wall Street will have key economic updates later this week, including the weekly unemployment benefits report on Thursday, which could provide additional insights into the state of the economy.


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