Stocks Buoyed as ‘Santa Claus Rally’ Period Begins: Markets Wrap
- Tech megacaps extend their 2024 surge to drive equity gains
- Wall Street sees early close ahead of the Christmas holiday
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A rally in the group that has led Wall Street’s gains in 2024 lifted stocks in a relatively quiet session ahead of Christmas.
Following a strong day for big tech, the shares continued to power ahead on Tuesday. Tesla Inc. led megacaps higher. Broadcom Inc. and Advanced Micro Devices Inc. climbed as President Joe Biden’s team launched a probe into Chinese-made chips. In a shortened pre-holiday session, the S&P 500 closed with an advance of over 1% amid thin trading volume.