IXIC: Nasdaq Composite Brings Gifts of Gains in Merriest Christmas Eve Since 2000

‘Tis the season of tech stocks once again pumping and lifting the broader equity market. S&P 500 had its best Christmas Eve since 2011.

• The Nasdaq Composite IXIC brought gifts of gains to traders and investors on Christmas Eve. The tech-dense index kicked off the festive trading session on an upbeat note and kept on giving until it peaked for the day with a 1.3% increase — its best Christmas Eve performance since 2000. The festive mood spread over to the other two major indexes, as well. The S&P 500 added 1.1% for its best Christmas Eve session since 2011. And the Dow climbed 0.9%.
• Tech stocks were the ones who played Santa and delivered on investors’ expectations of a Santa rally. One particular gift-bearing stock was Tesla TSLA, which surged more than 7% in a recovery rally after Fed’s Jay Powell poured cold water on the shares, leading to a 13% drop from record. Apple AAPL, Meta META and Amazon AMZN were each up by 1% or more.
• Stocks will be closed for trading on Christmas and will get back in action on Thursday. With just four trading days left in the year, traders should be happy with what they are about to jot down in their track record books. The Nasdaq is looking to close the year with a whopping 35% annual gain, followed by the S&P 500’s 27% pop and the Dow’s 15% jump.