Biggest S&P 500 Movers on Tuesday

Advancers:

• Tesla (TSLA) shares powered 7.4% higher, leading the charge for the S&P 500 and spearheading an 澳洲幸运5官方开奖结果体彩网:upbeat trading𓃲 session for the Magnificent 🅠Seven tech stocks. Barclays analysts noted that, while they expect the electric vehicle maker to post record fourth-quarter deliveries, the effect on the stock could be minimal. Rather than short-term metrics, the investment bank believes Tesla's recent momentum hinges on its long-term opportunities in self-driving and artificial intelligence.
• Super Micro Computer (SMCI) shares gained 6%, partially recovering from a string of losses that coincided with last week's removal of the stock from the Nasdaq 100 Index. Earlier this month, the server and data storage provider received an extension from the Nasdaq exchange for the filing of its delayed annual report until February.
• The December rally continued for shares of Broadcom (AVGO), which added 3.2%. The chipmaker's Christmas advance extended gains posted in the previous session after UBS analysts 澳洲幸运5官方开奖结果体彩网:increased their AI reven🐼ue estimates for Broadcom and boosted their price target on the stock.
• Starbucks (SBUX) shares ticked 2.8% higher. The union-backed baristas who have been participating in a 澳洲幸运5官方开奖结果体彩网:strike against the coffee chain are expected to return to work tomorrow. A Starbucks executive said Monday that around 97% to 99% of stores will remain open, adding that the strike wasn't expected to have a major effect on operations nationwide.

Decliners:

• The weakest Christmas Eve performance in the S&P 500 belonged to shares of Walgreens Boots Alliance (WBA), which slipped 1.2%. The stock enjoyed a bump earlier in December following reports that the pharmacy operator was in 澳洲幸运5官方开奖结果体彩网:talks about selling itself to private equity firm Sycamore Partners, but it has been trending lower since and remains down nearly 65% in 2024.
• Shares of industrial chemical supplier Celanese (CE) also fell 1.2%. RBC recently slashed its price target on Celanese stock, citing pressure on the company's margins stemming from high energy costs.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

Wall Street Expected a Good Year For Theꦉse 3 Stocks—What Ha൲ppened?

No one can predict the fut▨ure, and Wall Street an๊alysts, despite that being part of their job, are no exception. 

According to a December 2023 analysis by FactSet Research, analysts expected 澳洲幸运5官方开奖结果体彩网:energy stocks in the 澳洲幸运5官方开奖结果体彩网:S&P 500 to rise by more than 25% this year, about double the expected return of the next-best performing sector. Three of the 10 S&P 500 stocks that analysts were the most bullish on the cusp of the current year were in energy: oilfield services providers SLB (SLB) and Halliburton (HAL), and oil and gas producer APA Corp. (APA).

It didn’t pan out the way Wall Street expected. For the second year in a row, the sector trailed the broader market. Of the industries tracked by an S&P Global index, oilfield services and oil & gas exploration are the two worst performers in 2024, down 11% and 8%, respectively, through Monday's close. Each of the three stocks mentioned abo♊ve has lost more than a quarter of its value this year.

See here for more on what went 🐲wrong🐼 for the energy sector this year.

Bulls Hope for 'Santa Claus Rally' to Close Out 2024

Bulls are hoping Santa puts a bow on the stride📖s the stock market has made so far in 𝔉2024.

Wall Street is eager for a so-called 澳洲幸运5官方开奖结果体彩网:Santa Claus rally to propel the S&P 500—up about𓆏 25% this year through Monday's close—to new highs. According to Wall Street lore, the stock market consistently rises during the final five trading days of the year and the first two sessions of the next. This year, that stretch starts today.

The market is well poised to rally this year, said Ryan Detrick, chief market strategist at Carson Group, despite 澳洲幸运5官方开奖结果体彩网:the Dow Jones Industrial Average recently f💟alling for several days running and other indexes faltering before advancing yesterday.

Santa has a track record of delivering for Wall Street at the tail-end of Christmas. From the fifth-last trading day of the year through the second session of the next year, the S&P rallied 76% of the time from 1999 on, according to Carson Group's analysis. Gains amounted to an average of 1.7% when there was a rally, the analysis shows.

"It’s a modest rally," said the Almanac's editor-in-chief Jeffrey Hirsch, whose father coined the "Santa Claus Rally" phrase. "But when it doesn't appear, that means that those traders are nervous."

Some significant⭕ economic downturns have emerged after stocks stumbled during these seven sessions, analysts say.

Still, every rule of thumb has exceptions. Lastꦺ year, the S&P dipped 0.9% during this period before going on to hit record after record in 2024.

-澳洲幸运5官方开奖结果体彩网:Sarina Trangle

Tesla Leads Magnificent Seven Stocks Higher

Tesla's (TSLA) shares were among the 澳洲幸运5官方开奖结果体彩网:S&P 500's top gainers Tuesday morning as the 澳洲幸运5官方开奖结果体彩网:Magnificent Seven big tech stocks rose on Christmas Eve. 🌄;

Shares of the EV maker were recently up more than 4%, making them the second-best performer in the benchmark index—second only to Super Micro Computer (SMCI).

Other "Mag 7" stocks also rose this morning, a holiday-shortened session that comes ahead of 澳洲幸运5官方开奖结果体彩网:a day off tomorrow and kicks off the 澳洲幸运5官方开奖结果体彩网:Santa Claus Rally period. The major indexes were 澳洲幸运5官方开奖结果体彩网:rising this morning, led by the 澳洲幸运5官方开奖结果体彩网:Nasdaq Composite. 

Amazon.com (AMZN) added 1.3%, the largest gain of the rest of the Magnificent Seven. Nvidia (NVDA) and Meta Platforms (META) were recently up 0.9%. Apple (AAPL), Microsoft (MSFT), and Alphabet (GOOGL) were also in the green. 

-澳洲幸运5官方开奖结果体彩网:David Marino-Nachison

U.S. Steel Stock Wavers as Regulator🌺s Punt Nippon Deal to Biden

Shares of U.S. Steel (X) slipped 1% Tuesday after U.S. regulators failed to agree on whether to allow Japanese firm Nippon Steel's 🔥$14.9 billion purchase of the company to go through, instead passing it on to President Biden to decide.

The President now has 15 days to make the determination. Both he and President-elect Donald Trump have 澳洲幸运5官方开奖结果体彩网:expressed opposition to the merger, arguing that a key American steelmaker should not be꧂ o🌊wned by a foreign entity.

U.S. Steel responded to the decision by the Committee on Foreign 🦋Investment in the United S🍸tates (CFIUS), saying the deal "enhances U.S. national and economic security through investment in manufacturing and innovation." It added that the Nippon transaction is "the best way, by far, to ensure that U.S. Steel, including its employees, communities, and customers, will thrive well into the future."

The Japanese firm has pledged to invest more than $2.7 billion in U.S. Steel facilities, and CEO David Burritt has warned of plant closures and the possibility of moving the company's headquarters from Pittsburgh, where it's been since 1901, if𒆙 the government blocks the sale.

U.S. Steel shares have yo-yoed this year on the back-and-forth news about the Nippon acquisition. They tumbled to their lowest level since September last Friday after warning that fa🏅lling steel prices and the costs associated with the construction of a new factory in Arkansas will impact current꧅ quarter results. The shares have lost more than a third of their value this year.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

American Airlines Shares Recover from Morning Slump as 'Technical Issue' Disrupts Flights

The Federal Aviation Administration (FAA) canceled a brief nationwide ground stop requested by American Airlines (AAL) on Christmas Eve, one of the busiest travel days of the year.

"A technical issue is affecting American flights this morning," American Airlines said, according to reports. "Our teams are working to resolve the issue as quickly as possible, and we apologize to our customers for the inconvenience."

Americans are expected to travel in large numbers this holiday season. The American Automobile Association (AAA) earlier this month estimated that more than 119 million people will travel at least 50 miles from home between Dec. 1 and New Year's Day, topping a record set in 2019. More than 7.8 million of those were expected to fly, AAA said.

American shares were down about 1% half an hour before markets opened, after recovering from a sha🔯rp 4% drop earlier Tuesday morning.

-澳洲幸运5官方开奖结果体彩网:Aaron Rennie

Stock F♔utures Steady Ahead of Holiday-Shortened Session

Futur🍒es contracts 🎐connected to the Dow Jones Industrial Average were down less than 0.1% in early trading on Tuesday.

S&P 500 futures were up 0.1%.

Nasdaq 100 futures advanced 0.2%.