Stocks Gain, Tesla Soars, Bitcoin Hits $98,000

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Santa Rally starts on Wall Street. Stocks Rise, Tesla Rises, Bitcoin Hits $98,000
Santa Rally starts on Wall Street. Stocks Rise, Tesla Rises, 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.

  • It SPDR S&P 500 ETF Trust (NYSE:SPY) rose 1.1% to $601.01.

  • It SPDR Dow Jones Industrial Average (NYSE:THERE) rose 0.8% to $432.44.

  • Technology-heavy Invesco QQQ Trust Series (NASDAQ:QQQ:) rose 1.3% to $529.94.

  • It iShares Russell 2000 ETF (NYSE:IWM:) rose 1% to $223.46.

  • 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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