Wall St. Rallies to New Highs, Tech Stocks Lead

US stock futures held steady as the S&P 500 reached a new high, setting the stage for a positive close before the Christmas holiday. Despite four consecutive days of gains in a hopeful Santa Claus rally, driven by tech stocks, the pace of growth may slow in the fourth quarter due to government data and consumer confidence slipping. Traders have reduced the likelihood of a January rate cut, but still expect two by the end of the year. The latest weekly jobless claims data will be released on Wednesday, adding to the volatile holiday trading.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.