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US stocks mostly rose on Tuesday, led by the technology sector.
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Today marks the start of the Santa Claus trading window, a historically bullish 7-day period.
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The stock market will close at 1:00 p.m. for a shortened trading session due to Christmas Eve.
U.S. stocks mostly rose on Tuesday buoyed by gains in technology stocks.
The increase comes amid a Christmas Eve-shortened trading session, which also marks the official start of Santa’s shopping window — a historically bullish period for stocks during the last five trading days of the year and the first two trading days of the new year.
The stock market will close at 1:00 p.m. and will remain closed on Wednesday for Christmas. The bond market, which is also closed on Wednesday, will close on Tuesday at 2:00 p.m.
Investors have no economic data to analyze on Tuesday, but will be watching the release of initial jobless claims on Thursday morning. Economists expect 225,000 initial jobless claims, slightly higher than last week’s reading of 220,000.
Historical data dating back to 1950 shows that the S&P 500 It has posted an average return of 1.3% and is positive 79% of the time during the Santa Claus trading window.
The average gain during the Santa Claus trading window is even higher, at 1.6%, if you include returns on stocks dating back to 1928, according to data from Bank of America.
Here’s where the US indices stood shortly after the 9:30 a.m. opening bell on Tuesday:
Here’s what else is happening:
Read the original article at Insider business information