Wall Street barely moved on Christmas Eve, with traders keeping a low profile as the markets prepared for the holiday break.
Market Overview
At 09:40 AM ET, the Dow Jones Industrial Average rose 39 points (0.08%) to 48,481.43. The S&P 500 inched up 0.01% to 6,909.91, while the Nasdaq slipped 28 points (0.12%) to 23,533.20. Trading volumes were thin, and the exchange will close early on Wednesday and stay shut on Thursday for Christmas.
Economic Data
New claims for unemployment benefits fell by 10,000 to 214,000 for the week ended Dec 20, showing a slight improvement in the labor market. Earlier this month, the economy posted its fastest growth in two years for Q3, but consumer confidence slipped in December and factory output was flat in November, keeping the outlook mixed.
Key Stock Movers
- Nike (+4.7%): Apple CEO Tim Cook, who also serves as Nike’s lead independent director, bought about $3 million worth of shares.
- Intel (‑2%): Shares fell after a report said Nvidia paused testing for Intel’s 18A chipmaking node.
- Dynavax Technologies (+38.5%): The stock jumped after Sanofi announced a purchase agreement worth around $2.2 billion.
Oil Market
Crude oil kept climbing for the sixth straight day, helped by stronger‑than‑expected US growth and worries about supply from Venezuela and Russia. At 14:25 GMT, Brent crude was up 13 cents to $62.51 a barrel, and U.S. WTI rose 22 cents to $58.60. Both benchmarks have risen about 6% since mid‑December when they hit near five‑year lows.
Disclaimer
Remember, this is just a snapshot of recent market activity, not a prediction. Do your own research and consider your own risk tolerance before making any investment decisions.