The three major U.S. indexes are in the green week to date after posting strong back-to-back gains at the start of the shortened holiday week. The S&P 500 is up 1.8% so far this week. The broad market index posted its best Christmas Eve performance since 1974 on Tuesday, according to Bespoke. The Dow has gained 1.1% this week, and a run-up in megacap tech stocks has pushed the Nasdaq Composite 2.3% higher.
In December, the Nasdaq is on pace for a 4.2% advance, lifted by a jump in Tesla and Alphabet shares, as well as by a rally in Apple that's brought the iPhone maker closer to a $4 trillion market cap. The S&P 500 is toting a nearly 0.1% gain on the month. The Dow is on pace for its worst month since April, with a roughly 3.5% decline.
Friday is the first full trading session for major European indexes after closures over the Christmas holiday. The London-based researcher is sticking with the projection even though"we think Fed policy will be a bit less accommodative than we had previously projected," and a selloff in bonds drove last week's weakness in stocks.
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