- Stocks rose moderately to kick off the final trading session of 2024.
- The modest rebound reverses a three-day stretch of losses.
- The stock and bond markets will be closed on New Year’s Day.
US stocks rose Tuesday morning, putting markets on track for a positive day to close out a year of stellar gains.
The slight rebound reverses a three-day stretch of losses that hit markets amid growing uncertainty about 2025. Questions concerning interest rates, government policy, and the tech rally’s sustainability have caused stocks to struggle in what’s historically a strong stretch for the market between Christmas and the first few trading days of the new year.
Some have warned that the jitters could continue into the early days of 2025, even if the bull run does ultimately continue.
Regardless, the S&P 500 is about to close its second year in a row with a gain of more than 20%. Rising excitement for artificial intelligence, paired with positive macro data and solid earnings growth, have propelled indexes through a string of record highs throughout 2024.
Given the holiday-shortened week, the bond market will close early on Tuesday. Both the bond and stock market will be closed on Wednesday for New Year’s Day.
For economic data this week, investors will be watching for the initial jobless claims on Thursday, followed by ISM manufacturing data on Friday.
Here’s where US indexes stood at the 9:30 a.m. opening bell on Tuesday:
Here’s what else is happening:
In commodities, bonds, and crypto:
- West Texas Intermediate crude oil rose 0.13% higher to $71.08 a barrel. Brent crude, the international benchmark, inched up 0.05% to $74.04 a barrel.
- Gold increased by 0.33% to $2,626.6 an ounce.
- The 10-year Treasury yield stayed essentially flat at 4.543%.
Bitcoin climbed 1.22% to $95,589.
