Stock market today: Nasdaq, S&P 500 edge higher ahead of Christmas break
Published On Dec 24, 2024, 10:15 AM
Today, the U.S. stock market experienced modest gains as traders prepared for the Christmas holiday. The S&P 500 increased by about 0.2%, while the Nasdaq rose around 0.3%. This follows a period of recovery from earlier declines attributed to concerns over interest rates and inflation. Tech stocks, particularly Nvidia, led the upward movement. The market is closely watching signals about the Federal Reserve's future actions on interest rates, with expectations of pauses at upcoming meetings.
Stock Forecasts
SPY
Positive
The S&P 500 and Nasdaq have shown positive movement ahead of the holiday, suggesting short-term bullish sentiment. With support from tech heavyweights like Nvidia, the market is likely to maintain this upward trend as it approaches a quieter period for trading during the holidays.
NVDA
Positive
Given Nvidia's significant impact in recent trades and its strong performance throughout the year, optimism remains. However, the outlook for 2025 suggests challenges that could lead to volatility. Thus, while positive in the short term, investors should be cautious about potential dips in 2025.
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