On Tuesday, U.S. stocks wrapped up the day on a high note, marking the start of the Santa Claus rally period in a trading session shortened for Christmas Eve festivities.
The Dow Jones Industrial Average climbed a solid 390.08 points, or 0.9%, closing at a noteworthy 43,297.03. This ascent led to a four-day winning streak, which stands as its longest streak in nearly a month, based on data from Dow Jones Market Data.
Similarly, the S&P 500 made impressive gains, increasing by 65.97 points, or 1.1%, and ending the day at 6,040.04. This represented the index’s best performance since November 6, as noted by Dow Jones Market Data.
The Nasdaq Composite also saw a robust finish, climbing 266.24 points, or 1.4%, to 20,031.13.
Since 1950, this time of year has typically been kind to the S&P 500, which has shown average and median returns of 1.3%. This performance significantly outdoes the market’s usual seven-day return of just 0.3%, according to insights from LPL Financial.
