Nasdaq, S&P 500, Dow futures rise as Wall Street eyes New Year's rebound

The New Year got off to a great start as Wall Street returned from a tech-led holiday after U.S. stock futures rallied on Thursday.

Contracts linked to the S&P 500 (ES=F) rose 0.7 percent, while the Dow Jones Industrial Average futures (YM=F) increased by 0.6 percent. Futures on the tech-heavy Nasdaq 100 (NQ=F) jumped 0.9% as traders returned from Wednesday’s holiday shutdown.

Markets are eyeing a comeback after a Slide at the end of the year dented to start the week A “Santa Claus Rally” is expected. But the decline spelled a bumpy 2024 for U.S. stocks, with the S&P 500 (^GSPC) post two consecutive years of gains of more than 20%—something it hasn’t achieved in nearly three decades.

Several big tech stocks rose in early morning trade, with shares of Nvidia (NVDA), Amazon (AMZN), and meta (Meta) are all climbing as optimism around artificial intelligence. Investors are debating what his role is. “Magnificent Seven” Will stock Play in Powering Markets in 2025 After his stellar performance last year.

During the holiday week, US mortgage rates rose to 6.97 percent. The highest level since early Julythe data shows. According to the Mortgage Bankers Association, the gain was in applications for home purchases and debt refinancing.

Weekly jobless claims fell to their lowest level since March. Data released by the Labor Department on Thursday morning showed claims at 211,000, down from last week’s upwardly revised 220,000 level. Meanwhile continuous claims for the week ended December 21 fell to 1,844,000, down 52,000 from the previous week’s level.

On the corporate front, Apple (AAPL) shares fell after the iPhone maker made a rare offer. Discounts on its latest models In China, reflecting increased competition from local handset makers. Meanwhile, Alibaba’s (Dad, 9988.HK) stock fell as markets absorbed news from the Chinese e-commerce giant. Hypermarket will sell its shares in China. sun art (sorry, 6808.HK) at a huge discount.

Tesla (TSLA) shares rose before and after the EV maker’s release of fourth-quarter delivery data. A cybertruck exploded in Las Vegas. on Wednesday, killing its driver. The FBI is investigating whether the explosion outside the Trump International Hotel was an act of terrorism.

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Tesla stock surged in the premarket ahead of the delivery release.

Tesla (TSLAThe stock rose more than 1 percent for the Elon Musk-led electric vehicle maker as investors prepared to release its fourth-quarter earnings on Thursday.

Wall Street analysts expect the company to report shipments of about 512,300 EVs for the period, bringing its annual deliveries to 1.8 million EVs for fiscal 2024, according to a Bloomberg consensus estimate. According to

If the average analyst forecast is correct, that would mean Tesla’s annual EV deliveries fell 0.3 percent from last year — making 2024 the first year since 2011, according to Bloomberg data. That Tesla EV sales did not increase.

Tesla shares fell more than 3% on the last day of 2024 as the megacap tech stock fell, but the EV company’s stock was up more than 60% for the year.

Tesla warned in 2023 that next year’s production growth would be “significantly low,” as Pras Subramanian noted in his roundup of Tesla’s biggest news in 2024 (You can read that story here.).

Also, Tesla made headlines after a cybertruck exploded outside the Trump Hotel in Las Vegas. A signal to investigate a possible terrorist attack.
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