The Stock Market Does Something Unexpected Right before Christmas
We expected that the stock market would continue falling this week, but before trading closed on Tuesday, the three major stock market indices rose slightly.
That could cause a further bullish trend as trading starts back after the holiday, with tech stocks like Nvidia, Microsoft, and Meta Platforms pulling the market up. We anticipate that these stocks will help keep the market buoyant through a season that has been tough on the market as a whole.
Light trading was the rule of order for Monday and should likely continue today as well. There may be a flurry of trading to occur shortly before the closing bell for Tuesday, since the market will be heading into a short shutdown. The markets will close early on Tuesday and then reopen as normal for Thursday morning, but will be closed all though Christmas Day.
We may see what is known as a “Santa Claus rally”, which tends to occur after Christmas Day and lasts through the end of the year. When this happens, the market trading increases and stock prices climb heading into the New Year.
Bright Lights for the Week
There are a few stocks that investors should be watching closely this week that may lead any rally that happens. At the top of the list is Nvidia (NVDA), which climbed 0.78% for the day and could keep on climbing after the Christmas break. That stock suffered some slowdown recently in relation to a Chinese government probe, but it appears to be recovering nicely.
Microsoft (MSFT) is likewise up for the day, by 0.38%. That stock is expected to do well this season, with new subscriptions to Xbox’s online service and massive sales that typically bring increased revenue to the company at the end of the year.
Apple (APPL) is also up marginally, by 0.77%, and should continue to rise. This is the world’s top company by market cap, and their holiday sales are expected to outpace just about every competitor and help bring up the stock market a few points by the time 2024 closes off.

