US stock futures steady post-Christmas, tech sector leads gains

From Investing.com: 2024-12-25 19:38:37

U.S. stock index futures remain steady over Christmas break
U.S. stock index futures held steady as markets closed for Christmas, with a rally in megacap stocks on a shortened trading day prior. The New York Stock Exchange closed early for Christmas Eve, with thin trading volumes expected for the rest of the holiday-shortened week.
Indices at 6,097.50, 22,060.00, and 43,620.00 points respectively.

Tech sector leads Wall Street gains
Tech stocks continued to rise as the Magnificent 7 surged on Tuesday. Tesla and Apple saw strong gains, alongside other tech giants like Amazon, Meta Platforms, and Alphabet. Chip stocks also climbed following a new trade investigation into Chinese-made legacy chips, potentially leading to additional tariffs.

Wall Street rebounds from Fed-induced slump
After the U.S. Federal Reserve projected fewer rate cuts in 2025 last week, Wall Street saw sharp declines. However, markets recovered as the Fed emphasized a cautious approach to monetary policy adjustments. Rate cut expectations were scaled back, with major stock indexes bouncing back on softer-than-expected PCE inflation data.



Read more at Investing.com: US stock futures steady after Christmas holiday By Investing.com