The major US indices are in the day with gains in what was an up-and-down session, but with buying into the close.
The day also ends the so-called "Santa Claus Rally" period. That period covers five days before the end of the year and two days after the new year. For the S&P, the index gained 0.80%. Put a check mark in the win column for 2022.
The final numbers for the major indices are showing:
- Dow Industrial Average rose by 133.40 points or 0.4% at 33269.78
- S&P index rose by 28.79 points or 0.75% at 3852.92
- NASDAQ index rose 71.79 points or 0.69% at 10458.77
- Russell 2000 index 21.80 points or 1.25% at 1772.54
For the Santa Claus Rally period:
- Dow rose by 0.73%
- S&P rose by 0.80%
- Nasdaq fell by -0.17%
Looking at the 11 sectors of the S&P, all ended the day with all ended the day with gains gains
The biggest winning sectors were:
- real estate +2.29%
- materials +1.74%
- financials +1.59%
The laggard sectors included
- energy +0.06%
- healthcare +0.25%
- information technology +0.26%
The stocks rallied despite a sharp fall in Microsoft shares. The price of MSFT fell -$10.48 or -4.37% to 229.10. The low reached 225.96 which was the lowest since November 9 before rebounding modestly into the close. The catalyst was a downgrade by UBS to neutral from by on the back of weakness in cloud.