The US stock market’s session on Christmas Eve, usually more of a formality than an event, turned out to be quite fruitful this year as Santa Claus made his presence felt. Following a 0.7% rise yesterday in the S&P 500, today saw an additional 0.8% gain, largely wiping out the downturn we experienced post-Fed meeting.
Here’s how things are looking:
– S&P 500 climbed by 1.1%
– Nasdaq Composite advanced 1.4%, buoyed notably by a 6% surge in Tesla
– Russell 2000 rose by 0.7%
– Dow Jones Industrial Average increased by 0.9%
– Toronto’s TSX Composite added 0.3%
It’s worth noting that both US and Canadian markets will be completely shut on Christmas day. While the US market reopens on Boxing Day, the Canadian markets will take an extra day, coming back online on December 27.
Looking ahead, the ‘Santa Claus rally’—a period typically following Christmas and running up to New Year’s—still awaits us, promising more excitement in the days to come.
