Despite a strong start to the week, US stock futures remain relatively unchanged as investors anticipate a quieter holiday trading period.
U.S. stock futures were relatively unchanged Monday night after all three major averages kicked off the holiday-shortened trading week in the green. This comes amid what is expected to be a more toned-down week for trading activity. On Tuesday, the New York Stock Exchange closes early at 1 p.m. ET for Christmas Eve, while the bond market closes at 2 p.m. The market is also closed on Wednesday for Christmas Day.
Tech names and semiconductors were among the big winners of the day, lifting the S&P 500 and the Nasdaq. September's reading With few trading days in store, some investors are hoping for a Santa Claus rally to conclude what has already been a strong year for the market. And that's not completely out of the ordinary. According to the Stock Trader's Almanac, the But Jay Hatfield of Infrastructure Capital Advisors is calling for a bit of a stall in the market over the coming days. He is sticking with his year-end 2024 S&P 500 target of 6,000, which implies only a 0.4% increase for the broad market index from Monday's close. 'We might get a Santa Claus rally, but those aren't that powerful rallies,' the firm's CEO told CNBC.'We're neutral on the market.' S&P 500 futures, as well as Nasdaq 100 futures, traded just above the flatline. Futures tied to the Dow Jones Industrial Average gained 31 points, or about 0.1%
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