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Soaring Stocks: Major Indexes Set for Robust Year-End Performance

Dec 31, 2024 · 4m 3s
Soaring Stocks: Major Indexes Set for Robust Year-End Performance
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**Major Index Performance** - **S&P 500**: Futures indicate a higher open, up 0.3% on the final day of the year, despite the index being on track to post a monthly...

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**Major Index Performance**

- **S&P 500**: Futures indicate a higher open, up 0.3% on the final day of the year, despite the index being on track to post a monthly loss. For the year, the S&P 500 is up 24%[2][3].
- Daily movement: Expected to be up around 0.3% or approximately 18 points.
- **Dow Jones Industrial Average**: Futures suggest a slightly higher open, up 0.2%. The Dow is set to post a monthly loss but has gained 13% for the year[2][3].
- Daily movement: Expected to be up around 0.2% or approximately 86 points.
- **NASDAQ Composite**: Futures are up 0.3%, with the NASDAQ having surged 30% in 2024[2][3].
- Daily movement: Expected to be up around 0.3% or approximately 45 points.

**Key Factors Driving Today's Market Direction**

- Recovery from recent losses: The market is looking to rebound from two straight sessions of significant declines[2].
- Year-end positioning: Investors are adjusting positions as the year comes to a close.
- Economic and geopolitical factors: Ongoing economic data and geopolitical developments continue to influence market sentiment.

**Notable Sector Performance**

- **Top Gainers**: Large-cap technology stocks are higher across the board in premarket trading, including Tesla (up 1.7%), Apple, Nvidia, Microsoft, Alphabet, and Amazon[2].
- **Top Decliners**: Boeing shares have been under pressure due to aircraft quality issues and a recent crash, though this impact may be less significant today as the market looks to recover[1].

**Market Highlights**

- **Most Actively Traded Stocks**: Tesla, Apple, Nvidia, Microsoft, Alphabet, and Amazon are among the most actively traded due to their significant market influence[1][2].
- **Biggest Percentage Gainers and Losers**:
- Gainers: Large-cap tech stocks like Tesla and others mentioned above.
- Losers: Boeing has been a significant loser recently, though its impact may be muted today[1].
- **Significant Market-Moving News Events**:
- Boeing 737-800 crash and its ongoing quality issues.
- Tesla's upcoming fourth-quarter deliveries report, expected on Thursday[1].

**Technical Analysis**

- **Current Market Trend**: The market is showing signs of a bullish trend as it attempts to recover from recent losses. However, the late-year slump has introduced some bearish indicators[2].
- **Key Support and Resistance Levels**:
- For Tesla, key support levels are around $360 and $300, with a potential price target of $615 based on technical analysis[1].
- For the Dow Jones, a close above 42,700 is seen as a positive indicator, while a close below this level could indicate a negative trend[4].
- **Trading Volume Analysis**: Trading volume is expected to be lower due to the year-end holiday period.
- **VIX Movement and Implications**: The VIX (Volatility Index) is not explicitly mentioned in the sources, but typically, a lower VIX indicates reduced market volatility.

**Forward-Looking Elements**

- **Pre-market Futures Indication**: Futures are pointing to a higher open for major indexes, indicating a potential recovery from recent losses[2].
- **Key Events to Watch for Tomorrow**: The start of the new year may bring new economic data releases and market adjustments.
- **Important Upcoming Earnings Releases**: Tesla's fourth-quarter deliveries report is a key event to watch, scheduled for Thursday[1].
- **Potential Market Catalysts**: The impact of Tesla's deliveries report, ongoing economic data, and any geopolitical developments could significantly influence the market in the coming days.
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Author QP-4
Organization William Corbin
Website -
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