Tech Stocks Shine Bright on Christmas Eve
The stock market got an early holiday gift on Tuesday, with the S&P 500’s top performers being led by none other than electric vehicle maker Tesla (TSLA). The company’s shares surged over 7%, making it the benchmark index’s top gainer of the day.
The Magnificent Seven Rise to the Occasion
Tesla was not alone in its success, as the rest of the “Magnificent Seven” big tech stocks also saw significant gains. Super Micro Computer (SMCI) came in second, with a rise of around 6%. The holiday-shortened session marked the beginning of the Santa Claus Rally period, a time when the market often experiences a surge in growth.
Nasdaq Composite Leads the Charge
The major indexes all saw gains on Tuesday, with the Nasdaq Composite leading the way. Amazon.com (AMZN) added 1.8%, the largest gain among the remaining Magnificent Seven stocks. Meta Platforms (META) followed closely, with a 1.3% increase. Apple (AAPL), Microsoft (MSFT), and Alphabet (GOOGL) also saw their shares rise.
A Green Day Across the Board
In a rare occurrence, all 11 sectors of the S&P 500 were in the green on Tuesday. This widespread growth signals a strong market, with investors feeling optimistic about the future.
Updated Share Price Information
This article has been updated to reflect the latest share price information, providing investors with the most accurate picture of the market’s performance.
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