Wall Street slipped a bit on Monday as big tech names fell, but the broader market still looks set for a modest gain before the year ends.
Overall market move
By early afternoon the Dow Jones dropped 0.38% to 48,523.66, the S&P 500 slipped 0.35% to 6,905.68, and the Nasdaq fell 0.55% to 23,462.63.
Tech stocks pull back
The technology sector pulled the S&P 500 lower. Leading AI‑related names such as Nvidia fell 1.5% and Palantir lost 1.6%. Even Tesla slipped almost 2.4% after hitting a fresh high the week before.
Other sectors
- Energy: Gained about 0.9% as oil prices rose 2%.
- Materials: Dropped around 1% after silver fell sharply from a record above $80 per ounce and gold slipped from back‑to‑back highs.
Year‑end rally expectations
Investors often watch for a “Santa Claus rally,” a pattern where the S&P 500 tends to rise in the last five trading days of the year and the first two days of January. All three major indexes are on track for solid monthly gains, and the S&P 500 has already added about 17% this year.
Key takeaways
- The market remains in a bull phase that started in October 2022.
- AI optimism, possible interest‑rate cuts, and a still‑strong economy keep the upside potential alive.
- Most strategists expect further gains into 2026, assuming the economy keeps expanding and the Fed continues easing.
Remember, this is perspective, not a prediction. Do your own research before making any investment decisions.