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March S&P 500 E-Mini futures (ESH25) are down -0.45%, and March Nasdaq 100 E-Mini futures (NQH25) are down -0.52% this morning as Treasury yields climbed after cash trading resumed following the Christmas holiday, with investors turning their attention to U.S. jobless claims numbers due later today.

In Tuesday’s trading session, Wall Street’s three main equity benchmarks closed in the green. All the Magnificent 7 megacap technology stocks advanced, with Tesla climbing over +7% to lead gainers in the S&P 500. Also, chip stocks extended gains after the Biden administration launched a probe into Chinese chips, with Broadcom rising more than +3% and Advanced Micro Devices gaining over +1%. In addition, NeueHealth soared more than +74% after the company announced that it had agreed to be taken private by New Enterprise Associates in a $1.3 billion deal.

Economic data released on Tuesday showed that the U.S. Richmond Fed manufacturing index came in at -10 in December, in line with expectations.

“Santa Claus rally could still be alive, with strong seasonality into the end of the year,” said London Stockton at Ned Davis Research.

A Santa Claus rally refers to the consistent gains observed in the stock market over the final five trading days of December and the first two trading days of January. Since 1950, the S&P 500 has delivered average and median returns of 1.3% during this period, significantly exceeding the market’s average seven-day gain of 0.3%, according to Adam Turnquist at LPL Financial.

Meanwhile, U.S. rate futures have priced in a 91.4% chance of no rate change and an 8.6% chance of a 25 basis point rate cut at the next central bank meeting in January.

Today, investors will focus on U.S. Initial Jobless Claims data, which is set to be released in a couple of hours. Economists estimate this figure will come in at 223K, compared to last week’s 220K.

In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.621%, up +0.72%.

Most major markets in Europe remain closed today.

Asian stock markets today settled in the green. China’s Shanghai Composite Index (SHCOMP) closed up +0.14%, and Japan’s Nikkei 225 Stock Index (NIK) closed up +1.12%.

China’s Shanghai Composite Index ended slightly higher today after swinging between modest gains and losses amid thin trading volumes typical of the year-end period. Technology stocks gained ground on Thursday. Shares of computing-equipment makers also rose after the nation announced plans to include the sector in the investment scope of local government special bonds. At the same time, energy stocks retreated. Meanwhile, the People’s Bank of China issued 300 billion yuan in one-year medium-term lending facility loans to financial institutions at an unchanged rate of 2% on Wednesday, prompting analysts to suggest it is holding off on deploying its policy instruments until later to deal with the economic impact of the Trump administration. Investors are waiting for the details of China’s supportive measures after policymakers reiterated their pledges this week to boost consumption and stabilize the property market. Analysts and investors anticipate the details to be disclosed in March next year during China’s annual parliamentary meeting, where Beijing will announce its growth target and determine measures to boost the economy. In corporate news, Weihai Guangwei Composites surged over +10% after securing a 3.66 billion yuan deal through its subsidiary to supply carbon fiber fabrics to an undisclosed customer.

Japan’s Nikkei 225 Stock Index closed sharply higher today. Automobile stocks led the gains on Thursday amid a weaker yen. Retail stocks also advanced after the country agreed with China to implement additional measures aimed at boosting tourist visits. Data from the Cabinet Office released on Thursday showed that Japan’s leading economic indicators index, which gauges the economic outlook for a few months ahead based on data such as job offers and consumer sentiment, was revised upward in October, reaching its highest level since July. Meanwhile, Bank of Japan Governor Kazuo Ueda on Wednesday refrained from clearly indicating a potential interest rate hike next month by emphasizing the need to continue monitoring economic risks. “The timing and pace of adjusting the degree of monetary accommodation will depend on developments in economic activity and prices as well as financial conditions going forward,” Ueda said. In other news, Japan’s government is poised to compile a record $735 billion budget for the fiscal year starting April due to increased social security and debt-servicing costs, according to a draft of the plan Bloomberg obtained on Wednesday. Tokyo also plans to reduce new bond issuance to under 30 trillion yen for the first time in 17 years. In corporate news, Toyota Motor climbed about +6% following a Nikkei newspaper report stating the company aims to double its ROE target to 20% by around 2030. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed down -1.85% to 20.65.

The Japanese October Leading Index stood at 109.1, stronger than expectations of 108.6.

Pre-Market U.S. Stock Movers

Cryptocurrency-exposed stocks are moving lower in pre-market trading, with the price of Bitcoin down more than -3%. MicroStrategy is down more than -5%. Also, MARA Holdings is down over -3%, and Bit Digital is down more than -2%.

Today’s U.S. Earnings Spotlight: Thursday - December 26th

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On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.

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US benchmark equity indexes rose Tuesday as markets closed early on Christmas Eve, with Tesla helping lift the S&P 500 and the Nasdaq Composite higher.

The technology-heavy Nasdaq jumped 1.4% to 20,031.1, while the S&P 500 rose 1.1% to 6,040. The Dow Jones Industrial Average advanced 0.9% to 43,297. All sectors closed higher, led by consumer discretionary's 2.6% surge.

US markets will be closed Wednesday for the Christmas Day holiday.

Electric vehicle maker Tesla's shares advanced 7.4%, the best performer on the S&P 500 and the second-best on the Nasdaq.

NeueHealth shares soared 75%. Late Monday, the healthcare company agreed to be acquired and taken private by an affiliate of New Enterprise Associates in a deal worth roughly $1.3 billion.

American Airlines experienced a technical issue Tuesday that briefly affected its flight operations during one of the busiest travel seasons of the year. The carrier's shares closed 0.6% higher.

Walgreens Boots Alliance shares dropped 1.2%, the steepest decline on the S&P 500.

The US two-year yield was down 1.3 basis points at 4.34%, while the 10-year rate lost one basis point to 4.59%.

In economic news, US home price growth remained unchanged sequentially for the third consecutive month in November, while the annual increase eased to the slowest rate in about a year, Redfin reported.

"Home prices are likely to keep rising steadily throughout 2025 at a similar pace to this year," Senior Economist Sheharyar Bokhari said.

Manufacturing activity in the US Mid-Atlantic region improved in line with market expectations in December, but remained in contraction territory, data from the Federal Reserve Bank of Richmond showed.

West Texas Intermediate crude oil rose 1.1% to $70.03 a barrel.

Gold increased 0.2% to $2,633.80 per troy ounce, while silver gained 0.4% to $30.3 per ounce.

Health care stocks were mixed in Tuesday afternoon trading, with the NYSE Health Care Index easing 0.1% and the Health Care Select Sector SPDR Fund (XLV) up 0.3%.

The iShares Biotechnology ETF (IBB) increased 0.1%.

In corporate news, NeueHealth shares soared about 71% after it agreed to be bought and taken private by an affiliate of New Enterprise Associates for an enterprise value of about $1.3 billion.

MultiPlan M shares surged about 91% after the company announced a refinancing to extend its debt maturities.

Clearmind Medicine shares jumped nearly 38% after the company said it has received Institutional Review Board approval from Yale University for a phase 1/2a trial of CMND-100 in alcohol use disorder.

Enanta Pharmaceuticals said Tuesday that it will appeal a Massachusetts District Court ruling in favor of Pfizer in a patent infringement case related to Pfizer's COVID-19 drug Paxlovid. Enanta shares fell 3.8% and Pfizer was fractionally lower.

Carbon Revolution late Monday said it reached an agreement with Orion Infrastructure Capital for an extra $25 million in funding that will be distributed in five equal tranches.

Carbon Revolution shares were up 120% in recent trading. Trading volume was sharply higher, with around 24.6 million shares exchanged with about one hour left in the holiday-shortened session compared with a daily average of around 81,100 shares.

NeueHealth late Monday agreed to be acquired and taken private by an affiliate of New Enterprise Associates through a transaction that values the embedded pharmacy, laboratory, radiology services company at around $1.3 billion.

NeueHealth shares recently were gaining over 68%. Trading volume recently had reached nearly 670,000 shares compared with the daily average of around 10,200 shares.

Clearmind Medicine has received approval from Yale University to begin a phase 1/2a clinical trial of its CMND-100 drug candidate to treat alcohol-use disorder.

Clearmind Medicine shares were over 37% higher in recent trading. Volume was running significantly higher than usual, with more than 50.1 million shares traded so far on Tuesday compared with a daily average of around 266,000 shares.