(Reuters) – The New York Stock Exchange opened very slightly higher on Tuesday at the start of a shortened session before the Christmas break and in the absence of a catalyst.
In early trading, the Dow Jones index gained 3.95 points, or 0.01%, to 42,910.90 points and the broader Standard & Poor’s 500 rose 0.13% to 5,981.86 points.
The Nasdaq Composite takes 0.27%, or 52.75 points, to 19,817.637.
Trading on US markets is scheduled to halt at 6:00 p.m. GMT and Wall Street will be closed on Wednesday.
The end-of-year holiday season is historically strong for the markets. On average, the S&P 500 gained 1.3% over the last five days of December and the first two of January, according to Stock Trader’s Almanac data dating back to 1969.
However, investors are wondering whether a rise in US stocks to new records will be feasible in the coming days, amid concerns over sky-high valuations and the overall state of the market.
After a busy week in terms of declarations from monetary officials and financial indicators, the markets are digesting the prospects of a monetary slowdown by the Federal Reserve (Fed) in 2025 and the economic consequences of a second term of Donald Trump in the White House .
The Fed’s monetary easing should be slower than previously anticipated across the Atlantic while the latest data has relieved investors, as has the agreement reached to avoid a “shutdown” at the start of the year.
(Written by Kate Entringer)
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