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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.
Health care stocks were mixed in Tuesday trading, with the NYSE Health Care Index easing 0.2% and the Health Care Select Sector SPDR Fund (XLV) up 0.1%.
The iShares Biotechnology ETF (IBB) rose 0.2%.
In corporate news, NeueHealth shares soared about 70% 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.
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