Let’s dive into the current state of stock-index futures and how they’re performing. Monday morning saw some positive movement, with the Dow Jones Industrial Average futures rising by 98 points, reaching 43,409. Meanwhile, the S&P 500 index futures were up by 22 points, taking them to 6,024, and Nasdaq 100 futures climbed 126.75 points to hit 21,693.
Reflecting back on Friday, the markets had a robust close. The Dow enjoyed a boost, gaining 498 points, climbing to 42,840. Not to be outdone, the S&P 500 rose by 64 points, finishing at 5,931, while the Nasdaq Composite advanced by 200 points, closing the day at 19,573.
Heading into a shortened trading week, investors are strategizing as markets will shut early on Tuesday for Christmas and will remain closed until the 26th. Last week’s upbeat finish was buoyed by the Bureau of Economic Analysis’ latest Personal Consumer Expenditure (PCE) price index report, which revealed a moderate inflation rise, not nearly as steep as economists had predicted.
The rally we saw across the Dow, S&P 500, and Nasdaq 100 on Friday followed some mid-week jitters after the Federal Reserve hinted at a more restrained approach to interest rate reductions slated for 2025.
With Christmas Eve just around the corner, investors are eyeing the traditional “Santa Claus rally” period, which typically spans from December 24 to January 3. Historically, since 1950, the S&P 500 has shown an average gain of 1.29% during this festive trading interval.
Now, all eyes are on Monday’s release of the Conference Board’s U.S. Consumer Confidence report for December, which investors hope will shed light on consumer perceptions of the American economy’s health. This report could play a critical role in shaping market sentiment as we head into the new year.
