S&P 500 Opens Flat After Christmas Eve Record; Regular Trading Hours; Nvidia, Micron, Nike, Tesla, and More Movers
Christmas is over, but the stock market doesn’t look like it’s suffering a hangover.
The S&P 500, Dow, and Nasdaq all opened flat.
There’s something special about these post-holiday trading days. The news is light, the volume is virtually nonexistent, and yet stocks trade, and the market moves. There is something enlightening about paying attention when nobody else is. And the day after Christmas has typically been a good one for investors, according to Bespoke Investment Group data. Stocks have averaged a 0.61% rise on the day going back to 1953, just slightly below the average of 0.67% for all days.
If the S&P 500 can close strongly today, it could be just what the market needs for a short-term move to 7100, says Fairlead Strategies’ Katie Stockton, though she too is worried about the medium-term. “While this would warrant a more bullish near-term stance, weakened intermediate-term momentum remains a headwind toward a sustained advance,” she writes.
We can worry about that next year.
