Wall Street snapped out of its holiday-season funk on Friday. The S&P 500 rallied 1.3% for its first gain since Christmas and its best day in nearly two months. Strength for Big Tech stocks helped it break a five-day losing streak,

The U.S. stock market had a banner year, but the holiday season has been far from festive. The S&P 500 logged 57 record highs in 2024, the sixth most since 1928, while also recording consecutive 20% gains for the fifth time on record.

Indexes fell in their first trading day after Christmas as traders hope for a so-called Santa Clause rally to propel markets higher into the new year.

After closing higher in Tuesday's abbreviated session, the Dow Jones Industrial Average finished today up 0.07% at 43,325, while the S&P 500 was 0.04% lower at 6,037, and the Nasdaq Composite had shed 0.05% to 20,020.

Stocks are broadly higher in trading on Wall Street, led by gains in Big Tech stocks. The S&P 500 was up 0.7% Tuesday.

Shares are lower in Tokyo and Shanghai, two of only a handful of world markets open on Christmas day. Oil prices rose.