Wed Dec 25 10:27:19 UTC 2024: ## Tech Stocks Fuel Santa Rally, Sending US Markets Higher Before Christmas Eve Closure

**NEW YORK** – A surge in technology stocks propelled a broad rally in US markets on Tuesday, sending major indexes higher just before Wall Street closes early for Christmas Eve. The tech-heavy Nasdaq composite led the charge with a 1% increase, while the S&P 500 rose 0.8% and the Dow Jones Industrial Average climbed 273 points (0.6%).

This robust performance was fueled by gains in key tech players. Chipmaker Broadcom soared 2.9%, Nvidia rose 0.8%, and Super Micro Computer jumped 5.8%. Tesla also saw significant growth, climbing 5.1%. Amazon.com added 1.6% to its value. The positive momentum counters recent losses as the market weighs the implications of potential future economic policies.

Despite the overall optimism, not all sectors shared in the gains. American Airlines dipped 0.1% following a temporary nationwide grounding due to a technical glitch. However, U.S. Steel rose 1.1% following a government panel’s failure to reach a consensus on its proposed sale to Nippon Steel. In the healthcare sector, NeueHealth skyrocketed 68.9% after agreeing to a $1.3 billion acquisition.

Treasury yields also rose, with the 10-year Treasury yield hitting 4.61%. European and Asian markets largely mirrored the positive trend.

US markets will close at 12 p.m. CT today and remain closed on Wednesday for the Christmas holiday. While the market anticipates several economic reports this week, including a jobless claims update on Thursday, the current rally aligns with the historical “Santa Claus rally,” a period from the last five trading days of the year into the first two of the new year, typically associated with positive returns.

Despite some recent market volatility stemming from concerns about potential inflationary pressures and trade policies, the S&P 500 remains up around 26% for the year, nearing its all-time high. The positive performance suggests a strong finish to the year, even as investors monitor economic indicators and policy developments.

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