Thu Dec 26 11:50:00 UTC 2024: **Stock Market Futures Dip After Christmas Holiday**
NEW YORK (January 2, 2025) – Major U.S. stock market futures fell Thursday morning, following a Christmas holiday market closure. Dow Jones futures dropped 0.6%, S&P 500 futures fell 0.4%, and Nasdaq 100 futures also retreated 0.4%. This decline follows a strong rally on Christmas Eve, where the Nasdaq led gains, nearing record highs, and the S&P 500 climbed back above 6,000.
While megacap stocks like Nvidia (NVDA), Tesla (TSLA), and Broadcom (AVGO) fueled Tuesday’s gains, much of the broader market remains sluggish. Nvidia, despite showing a buy signal Tuesday, saw its price fall below the 50-day line early Thursday. Other strong performers included AI chip IPO Astera Labs (ALAB).
The 10-year Treasury yield rose to 4.62%, potentially contributing to the subdued performance of some sectors. While the market showed strength in certain technology and growth areas, the overall picture suggests a more selective, “stock picker’s” market, analysts say. The Santa Claus rally period, traditionally a bullish time for stocks, has begun, but its success remains uncertain given the market divergence.
First Piper 