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Stock Market Today: Stocks Rise, Giving Santa Rally a Boost
Indexes edge upward, led by Nasdaq Composite
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Stocks advanced to start the holiday-shortened trading week.
Major stock indexes rose modestly Tuesday, a sign that the so-called Santa Claus rally was on track to finish out what has been a remarkable year in markets.
In recent trading:
A pair of pharma acquisitions, from AstraZeneca and Bristol Myers Squibb, got the post-Christmas deal juices flowing.
Oil futures rose, reflecting shipping troubles in the Indian Ocean and the Red Sea, as well as the Arabian Sea.
Chinese shares fell even as some of the videogame stocks whacked by a government crackdown last week recovered ground.
In economic news, shoppers kept spending during the holiday season, with U.S. retail sales up 3.1% from Nov. 1 through Dec. 24, according to Mastercard SpendingPulse. New data also showed home prices in the 20 biggest U.S. metros rose for the ninth month in a row in October, hitting a record high.
Markets in Europe and Hong Kong were closed.
— By Alex Frangos and Caitlin Ostroff
Our podcast, WSJ's Take On the Week, helps you prepare for what's ahead. Plus, get smarter about markets with our free weekday morning and evening newsletters.
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December 26, 2023 at 11:40PM
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Stock Market News Today: Dow, S&P 500 Open Higher, Giving Santa Rally a Boost - The Wall Street Journal
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