S&P500: Benchmark Posts Record Close While Major US Indices Hold Steady in Holiday Trade

S&P 500 Notches Another Record as Holiday Trade Stays Calm

The S&P 500 closed out the shortened Wednesday session with another record, drifting higher into the bell as traders wrapped up positions ahead of Christmas. The index gained 0.32% to finish at 6,932.05, while the Dow added 0.60% and also printed a fresh high. The Nasdaq was quieter but still green, up 0.22%. Volume was thin — no surprise for Christmas Eve — but buyers were still willing to lean in on strength, keeping the tone steady.

What Kept the Bid Under Stocks Heading Into the Break?

The market was still digesting Tuesday’s hotter-than-expected GDP revision. The Commerce Department’s third read put Q3 growth at 4.3%, well above the 3.2% consensus. That initially pushed traders to reassess early-2026 rate-cut expectations, though fed funds futures continue to point to two cuts by the end of next year. Bottom line: growth looks firm, and the rate path hasn’t meaningfully shifted — a mix the market seems comfortable with for now.

Which Sectors Stood Out in the Low-Volume Action?

Financials and utilities quietly led, up 0.53% and 0.55%. Consumer staples also caught a bid, rising 0.79%. Health care, industrials, and consumer discretionary each added modest gains as well.

Energy was the lone red sector, slipping 0.33% as crude eased back. With volumes this light, the move wasn’t exactly conviction selling — more like a pause after recent strength.

Where Did Traders Find Individual Stock Winners?

Nike topped the leaderboard, jumping 4.6% after Apple CEO Tim Cook revealed he had purchased shares — the kind of headline that tends to spark fast interest, even in a sleepy session.

Micron added 3.8% and Citigroup gained 1.8%, each logging fresh highs.

Tech heavyweights that drove Tuesday’s push — Alphabet, Nvidia, Broadcom, Amazon — didn’t repeat the outsized moves but helped keep the broader tone constructive.

Is the Santa Claus Rally Still in Play?

Plenty of traders are watching it, even if participation is light. The official window runs from Dec. 24 through Jan. 5, and so far the market is holding up its end. Thomas Martin of Globalt Investments expects a “quiet” stretch into year-end — Wednesday’s SPY volume of just 38.7 million shares versus the 86 million 30-day average backs that up — but he still sees a gentle upside bias. A push toward 7,000 on the S&P isn’t off the table, though enthusiasm is muted.

The exchange now takes a full day off for Christmas. When markets reopen Friday, traders will be watching whether low-volume buying continues — or if the holiday calm gives way to a more active final week as investors position for 2026.

More Information in our Economic Calendar.