US stocks tread water in thin trade, benchmark US yield backs off new high
By Stephen Culp and Alden Bentley
Thu December 26, 2024 5:11 PM
The Santa Claus rally went on pause today as all three indexes started the session in the red, the Dow down almost 200 points, but then began an almost immediate recovery to break-even around noon and then more or less straddle the flat mark the rest of the day and closing near flat. But no worries as today’s expert put it, “We’re in the Santa Claus rally, with a little bump in the road today, and it’s probably safe to say the year-end rally will continue.”
Unemployment claims dipped to their lowest in a month pointing to a cooling but still very resilient labor market. Today the annual gains in the Nasdaq, S&P and Dow stand at 33, 26, and 14% respectively. Concerns going into the new year are monetary easing, tariffs and other Trump policies, and various geopolitical issues. Volume was light as is usual for the last week of the year.
DJ: 43,297.03 +390.08 NAS: 20,031.13
+266.24 S&P: 6,040.04
+65.97 12/24
DJ: 43,325.80 +28.77 NAS: 20,020.36 -10.77 S&P: 6,037.59 -2.45 12/26
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