The ‘Santa Claus Rally’, a period of strong market performance near Christmas, has begun to drive stock gains. The S&P 500 advanced by over 1% in thin trading volume on Tuesday, boosted by tech megacaps. Tesla led the surge, with Broadcom and Advanced Micro Devices also seeing gains. This rally is driven by optimism surrounding President Joe Biden’s team investigating Chinese-made chips, which lifted shares for these companies.
Source: https://www.bloomberg.com/news/articles/2024-12-23/stock-market-today-dow-s-p-live-updates