On Monday, December 23, the U.Sstock market exhibited a positive trend, ultimately resulting in all three major indices closing higher after a tumultuous sessionThe Dow Jones Industrial Average managed to shift into the green in the last half hour of trading, reflecting a broader recovery for Wall Street.

By the end of the day, the Dow was up by 0.16%, settling at 42,906.95 pointsThe S&P 500 saw a slightly more substantial increase of 0.73%, closing at 5,974.07 points, while the tech-heavy Nasdaq surged by 0.98%, ending at 19,764.89 pointsThe day began on shaky ground, however, as initial reports of weak economic indicators seemingly dampened investor sentiment significantly.

Specifically, the Conference Board's Consumer Confidence Index for December revealed a decline of 8.1 points to 104.7, the lowest figure since September and well below the market expectations of 113. This drop, combined with a notable 1.1% decrease in durable goods orders from November to October—marking the biggest month-over-month decline since June—resulted in the Dow dipping by over 300 points at the beginning of the trading session.

Despite these gloomy indicators, a shift occurred as U.S

technology stocks began to gain momentumBy the close of trading, only Microsoft saw a downturn in its stock price, while the broader market benefitted from a recent report indicating that the Personal Consumption Expenditures (PCE) inflation rate had come in lower than analysts had predicted, allowing the markets to recover some of the previous losses attributed to the Federal Reserve's recent policies.

Adding a degree of reassurance for investors was Congress's recently passed short-term spending bill, signed into law over the weekend, which averted a looming government shutdown ahead of the holidaysThis legislative action ensured that federal agencies could remain operational into the new year, positively impacting market confidence.

This week, trading activity is expected to be relatively light, especially with U.Smarkets closing three hours early on Tuesday and shutting down entirely on Wednesday

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As the year-end approaches, market analysts are keeping an eye on the possibility of a so-called "Santa Claus Rally," a phenomenon where stock prices usually bounce up during the last week of December.

Statistics show that the S&P 500 has an 83% chance of appreciation during DecemberAnalysts at Piper Sandler remark that the market's primary upward trend remains intact, offering a glimmer of hope amid the volatility.

In terms of stock performances, large-cap tech companies generally fared wellApple rose by 0.31%, continuing to set new record highsNotably, Nvidia experienced a significant increase of 3.69%, contrasting with a slight dip of 0.31% for MicrosoftOther players like Google’s parent company Alphabet gained 1.57%, while Amazon and Meta Platforms saw minor increases of 0.06% and 2.49%, respectivelyTesla also rose by 2.27%, contributing to the tech sector's recovery.

The Philadelphia Semiconductor Index recorded a robust gain of 3.01%, with only three of its 30 constituent stocks closing lower

Major gainers included GlobalFoundries, which surged by 5.54%, Broadcom with a 5.52% rise, and TSMC climbing by 5.15%. Interestingly, Arm Holdings saw a decline of 4%, following Qualcomm's key victory in an Arm chip lawsuit, which likely influenced trading in the sector.

In healthcare news, Eli Lilly’s stock appreciated by 3.71% following the news that the FDA approved its new therapy, Zepbound, designed to treat moderate to severe obstructive sleep apnea in obese patientsThis marked a significant advancement in treatment options for this condition and showcased the company's innovative edge.

In the realm of Chinese stocks listed in the U.S., the Nasdaq Golden Dragon China Index rose by 0.91%. Among the most notable performers were Nio and Li Auto, which saw increases of 1.34% and 2.33%, respectively, while Alibaba and Baidu also gained ground, rising by 3.48% and 3.10%. However, companies like Nio and Tencent Music faced setbacks, experiencing declines of 1.32% and 1.67% respectively, reflecting the mixed performance of Chinese stocks amid varying market conditions.

Significant corporate news emerged from various companies today

MicroStrategy announced its purchase of 5,262 bitcoins at a cost of around $561 million during the period from November 16 to December 22, 2024, marking a substantial investment in cryptocurrencyThe average purchase price per Bitcoin was approximately $106,662, achieving a staggering 47.4% gain to dateFollowing this news, however, MicroStrategy's stock fell by 8.78% as market reactions varied.

In a separate highlight, the suspect charged with the murder of UnitedHealth Group CEO Brian Thompson pleaded not guilty during a December 23 hearing in New YorkLuigi Mangione, facing eleven charges, including first-degree murder and additional federal offenses, made his first formal response regarding the accusations brought forth by prosecutors, revealing the high-stakes nature of corporate crime in the U.Sattorney's offices.

Furthermore, Xerox has secured a deal to acquire printer maker Polis International for $1.5 billion from an Asian investor consortium

This acquisition not only represents a strategic move to bolster Xerox's portfolio but also includes the assumption of various debts from current ownersThe transaction is anticipated to close in the second half of 2025 and is pending regulatory approvals from both U.Sand Chinese authorities.

A substantial rebalancing is set to take place within the Nasdaq 100 index, where the shares of Tesla, Meta Platforms, and Broadcom will see a decrease in weight due to the recent surge in the tech sector that propelled their market sizes to unprecedented levelsConversely, companies like Apple, Nvidia, Microsoft, and Alphabet will see their influences grow, marking a shift in the index's composition reflective of ongoing industry trends.

In financial regulatory news, the Federal Reserve announced plans to solicit feedback on several proposed adjustments concerning its annual bank stress tests