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US stocks opened higher to kick off the final, shortened trading session before the Christmas holiday. The benchmark S&P 500 (^GSPC) edged up about 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) rose roughly 0.3%. The Dow Jones Industrial Average (^DJI) hugged the flatline.
Wall Street is looking to enter its Christmas break rejuvenated, after tech stocks including AI chip giant Nvidia (NVDA) led the march higher on Monday. Markets close at 1 p.m. ET today and are off tomorrow for Christmas Day.
Sizable gains on Friday and Monday have put the indexes back on the path toward their record highs, from which they took a Fed-fueled nosedive last week.
Wall Street is reassessing the path of interest rates next year as it grapples with the reality that the Fed mostly pulled off a so-called soft landing — but couldn’t fully shake the US economy’s inflation problem. According to the CME FedWatch tool, most bets are on two coming holds at the Fed’s January and March meetings, followed by a toss-up in May.
Meanwhile, many eyes continue to be trained on Nvidia, which saw a more than 3.5% gain on Monday. As Yahoo Finance’s Dan Howley writes, 2024 was Nvidia’s year, with the stock up some 180%. But 2025 could contain plenty of challenges.
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Crisis averted: American Airlines stock recovers after flights briefly grounded
American Airlines (AAL) briefly grounded all flights nationwide due to a technical issue earlier this morning.
The FAA lifted the ground stop at around 8 a.m. ET. American Airlines said in a statement that “a vendor technology issue briefly affected flights this morning. That issue has been resolved, and flights have resumed.”
The ground stop lasted for about an hour. Shares initially fell over 5% in premarket trading on the news. They’ve since recovered most of those losses, but are still down a little over 1% shortly after the opening bell.
The development comes during a busy holiday travel with TSA expecting to screen nearly 30 million people from Dec. 19 through Jan. 2.
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Stocks open higher to kick off shortened trading day
In the final sprint to the Christmas holiday, markets added to gains.
The tech-heavy Nasdaq Composite (^IXIC) led the way higher, rising roughly 0.3%. The benchmark S&P 500 (^GSPC) edged up about 0.2%, while the Dow Jones Industrial Average (^DJI) hugged the flatline.
Markets close at 1 p.m. ET today and are off tomorrow for Christmas Day
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Good morning. Here’s what’s happening today.
