Markets Are Mixed In Thin Holiday Trade, Trade Deal In Focus, S&P To Log Best Year In Six

The U.S. Index Futures Are Flat In Thin Holiday Trading

The U.S. futures are trading flat to slightly higher in early Tuesday trading. Today is Christmas Eve and will be a shortened session, the market closes at 1 PM Eastern Time, traders should expect thin volume. The Dow Jones Industrial Average, S&P 500, and NASDAQ Composite are all up about 0.10%. If the S&P closes the year at this level it will mark the best year in six, up 28.6%. If the index is able to sustain the Santa Claus Rally into year-end it could make the best annual rise in 20 years.

In stock news, shares of Boeing are up another half percent after the stock rebounded 3% on Monday. The move is driven by the ousting of incumbent CEO Muilenberg and may extend itself over the holiday season. Uber and Lyft are also on the rise. This move was sparked by a NY judge who ruled a new law limiting the time drivers can cruise the streets looking for fares. Shares of Aurora Cannabis are up 1.5% despite a downgrade from Jeffries. The analyst has lost faith in the company following the departure of CCO Cam Battley.

European Markets Are Mixed

The European markets ended the Christmas Eve session with mixed results. Most indices closed at new highs despite the tepid gains. The DAX is the only to decline, posting a loss of -0.13%. The FTSE 100 led the day’s action with a gain of 0.11% while the CAC closed with an advance of only 0.04%.

In stock news, shares of Amba, a medical device company, are up 3.5%. Shares of Bayer are also moving higher, up 3.0% at the end of the holiday-shortened session. Bayer’s move was sparked by the U.S. government’s support of the company in a suit related to the Roundup scandal. Shares of NMC Health are down -9.0% at the end of the session, giving up much of the gains seen in the Monday session.

Asia Mixed, Australia and Hong Kong Close Early

The Asian markets are mixed at the end of the Tuesday session. The Nikkei, Shanghai Composite, and Australian ASX all posted modest to moderate gains while the Hang Seng and Kospi both fell. Australian and Hong Kong markets closed early for the holiday. In stock news, shares of Apple suppliers are mixed at the end of the session despite a major upgrade to Apple stock. Analyst at Wedbush raised Apple’s share price target to the highest on Wall Street on expected strength in 5G.