Stocks Gain, Tesla Soars, Bitcoin Hits $98,000
Wall Street kicked off the Santa Rally season on a positive note, with all major indexes and sectors closing higher in the short session. About Christmas.
The S&P 500 rose 1%, extending its gains for a third straight session after a volatile Federal Reserve session last week.
The Dow Jones Industrial Average rose 0.9%, while the tech-heavy Nasdaq 100 rose 1.3%, nearly erasing the previous week’s losses.
Consumer discretionary stocks, the best-performing sector of the year, led the rally in light trading. Tesla Inc (NASDAQ:TSLA:) rose 7.35%, marking its strongest one-day performance since November.
Other standout performers in the S&P 500 are included Walmart Inc. (NYSE:WMT:), Starbucks Corp. (NASDAQ:SEX:), and: Netflix Inc. (NASDAQ:NFLX:), increased by 2.4%, 2.8% and 2.5% respectively.
The U.S. dollar index rose modestly, while the dollar was near a one-year high against the euro.The 10-year Treasury yield held steady at 4.6%, the highest level since May.
In terms of commodities, gold rose by 0.4%, and oil prices rose by 0.7%.
Risk appetite has returned to the cryptocurrency market after recent volatility as Bitcoin: (CRYPTO: BTC:) jumped 4% to over $98,000 This rally boosted crypto-related stocks including Microstrategy Inc. (NASDAQ:MSTR:), MARA Digital Holdings Inc. (NASDAQ:MARA:), and: Coinbase Global Inc. (NASDAQ:COIN), all post significant gains.
|
Key indicators |
Price: |
1 day %chg |
|
Nasdaq 100: |
21,771.80 |
1.3% |
|
S&P 500: |
6032.64 |
1.0% |
|
Russell 2000 |
2254.99 |
0.8% |
|
Dow Jones |
43,239,42 |
0.8% |
Updated at 1:00 PM ET
By: Benzinga Pro: data.
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It SPDR S&P 500 ETF Trust (NYSE:SPY) rose 1.1% to $601.01.
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It SPDR Dow Jones Industrial Average (NYSE:THERE) rose 0.8% to $432.44.
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Technology-heavy Invesco QQQ Trust Series (NASDAQ:QQQ:) rose 1.3% to $529.94.
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It iShares Russell 2000 ETF (NYSE:IWM:) rose 1% to $223.46.
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It Consumer Discretionary Sector SPDR Fund (NYSE:XLY:) exceeded a high indicator by 2.3%; that Utilities Select Sector SPDR Fund (NYSE:XLU:) lagged behind by 0.5%.
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