US stocks steady after S&P 500 record
- Dow Jones Industrial Average gained 0.2% while Nasdaq Composite Index slipped 0.1%
NEW YORK: Wall Street stocks moved sideways early Wednesday in a tentative follow-up to a record-setting session after good US economic data.
The S&P 500 finished at an all-time high Tuesday following US gross domestic product data that topped estimates by a wide margin. About 15 minutes into trading, the broad-based index was up 0.1 percent at 6,913.04.
The Dow Jones Industrial Average gained 0.2 percent to 48,516.22, while the tech-rich Nasdaq Composite Index slipped 0.1 percent to 23,544.20.
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Market watchers are hoping for a “Santa Claus” rally in upcoming sessions heading into 2026. The period between Christmas and New Years usually sees markets drift higher amid a dearth of major economic news.
“What’s happening right now is we have a very strong setup and then we just need a bullish catalyst and it’ll take off and go,” said Adam Sarhan of 50 Park Investments.
Major exchanges will be open for a half session ahead of Thursday’s Christmas holiday, when markets are closed. Trading volumes were expected to be light.
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