Stocks

US Stock Markets Post Gains on Monday, December 23, 2024

Published December 23, 2024

U.S. stock markets ended positively on Monday as traders began a holiday-shortened week. The S&P 500 index saw an increase of 0.7%, primarily aided by substantial gains in major technology firms. Notably, semiconductor companies such as Nvidia and Broadcom played a significant role in driving these gains. The Dow Jones Industrial Average rose by 0.2% while the Nasdaq composite climbed 1%.

Among individual stocks, shares of Honda saw a sharp rise after the company announced that it was in discussions regarding a potential combination with Nissan. This deal could also involve Mitsubishi Motors. Additionally, Eli Lilly experienced an uptick following the news of regulatory approval for its new medication Zepbound, aimed at treating sleep apnea in adults. Furthermore, bond market Treasury yields saw an upward trend.

On Monday, the specific index movements were as follows:

  • The S&P 500 increased by 43.22 points, or 0.7%, to close at 5,974.07.
  • The Dow Jones Industrial Average added 66.69 points, or 0.2%, ending at 42,906.95.
  • The Nasdaq composite grew by 192.29 points, or 1%, finishing at 19,764.89.
  • The Russell 2000 index, which tracks smaller companies, declined by 4.93 points, or 0.2%, to settle at 2,237.44.

Looking at the overall performance for the year, the following is noted:

  • The S&P 500 has risen by 1,204.24 points, equivalent to 25.2%.
  • The Dow has increased by 5,217.41 points, or 13.8%.
  • The Nasdaq is up by 4,753.53 points, marking a 31.7% gain.
  • The Russell 2000 has improved by 210.36 points, representing a 10.4% increase.
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