U.S. stock futures were steady on Tuesday morning after a strong start to the week that saw the S&P 500 (SPX) and the Nasdaq Composite reach all-time highs. Meanwhile, futures on the Nasdaq 100 (NDX) and the S&P 500 were up 0.04% and 0.03%, respectively, at 3:20 a.m. EST, December 24, whereas the Dow Jones Industrial Average (DJIA) futures were down 0.04%.
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The previous session saw a surge in technology stocks, with major players like Nvidia (NVDA), which gained 3%, while Tesla (TSLA), Meta Platforms (META), and Alphabet (GOOGL) gained 2% each. Overall, the Nasdaq Composite gained 1%, while the S&P 500 and the Dow Jones rose 0.7% and 0.2%, respectively.
The positive stock market momentum is likely to raise hopes of a “Santa Claus rally” ahead. This rally refers to a seasonal trend where equities tend to climb during the last five trading days in December and the first two trading days of January.
In major stock market news, Honda Motor (HMC) shares surged 13% after announcing plans to acquire Nissan Motor (NSANF). Also, Rumble (RUM) increased over 81% following a $775 million investment from cryptocurrency firm Tether ($USDT-USD).
Investors should note that the stock market will close early today and will remain closed tomorrow for Christmas Day.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.593% at the time of writing. At the same time, WTI crude oil futures are trending higher, hovering near $69.80 per barrel as of the last check.
Elsewhere, European indices opened higher on Tuesday morning as trading activity remained subdued ahead of the Christmas holidays.
Asia-Pacific Markets Ended Higher Tuesday
Most Asia-Pacific indices were higher today after a rally in major U.S. tech stocks boosted key benchmark indices in the U.S.
At the same time, Hong Kong’s Hang Seng Index was up 1.08%. Further, China’s Shanghai Composite and Shenzhen Component indices gained 1.26% and 1.27%, respectively. Also, Japan’s Topix index climbed 0.02%, while the Nikkei index declined 0.32%.
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