Mon Dec 23 16:00:00 UTC 2024: ## Stocks Mixed as Holiday-Shortened Week Begins; Consumer Confidence Dips
**New York, NY** – A holiday-shortened trading week began on a mixed note for US stocks, with the Dow Jones Industrial Average falling 140 points while the tech-heavy Nasdaq Composite bucked the trend, rising 0.6%. The S&P 500 saw a modest 0.2% gain. Weak economic data, including a decline in consumer confidence and durable goods orders, contributed to the overall market softness.
The Dow’s decline follows a recent 10-day losing streak, its longest since 1974. While the market experienced a recovery after a cooler-than-expected inflation report, December has still seen the Dow fall 4.6% and the S&P 500 dip 1.7%. The Nasdaq, however, has risen 1.8% this month.
Despite the recent volatility, analysts remain optimistic about the potential for a “Santa Claus rally” in the final trading days of the year. Historically, the S&P 500 experiences a positive return during this period.
Individual stock movements were significant. Apple and Palantir hit new all-time highs, while eight S&P 500 stocks reached 52-week lows. Analysts predict continued growth for certain stocks in 2025, including Nvidia, Diamondback Energy, and First Solar. Conversely, MicroStrategy saw a decline after its inclusion in the Nasdaq-100 index. Small-cap stocks also underperformed, mirroring a trend observed throughout December.
In M&A news, Nordstrom’s sale to the Nordstrom family and El Puerto de Liverpool was finalized, though the share price fell slightly after the announcement. Xerox announced its acquisition of Lexmark, leading to a premarket share price surge, but also a dividend cut. Finally, Honda and Nissan’s announcement of merger talks sent Honda shares soaring in pre-market trading. European markets also saw gains despite upcoming holiday closures.
First Piper 