"Santa Claus rally will surprise no one": major US indices rose for the second day in a row

Three major U.S. stock indices rose for the second day in a row on Friday, December 19. This allowed the S&P 500 to go into plus at the end of the week, but the Dow remained in the minus. The technology sector overcame concerns about AI costs: Nvidia shares jumped by almost 4% during the day, while Broadcom and Micron securities rose sharply.

- The S&P 500 index rose 0.88% to 6,834.5 points.

- The Nasdaq Composite index, which is heavily weighted toward technology companies, added 1.3 percent to 23,307.62 points.

- The Dow Jones blue-chip index rose 0.38% to 48,134.89 points.

For the week, the S&P 500 was up 0.1%, the Nasdaq Composite added 0.5%, and the Dow, on the other hand, fell 0.7%, CNBC wrote.

In the technology sector, Nvidia shares jumped by 3.9% after Reuters reported that the White House began to consider authorizing the supply of its chips for artificial intelligence in China. Broadcom shares rose by 3.18%, and Micron - immediately by 7%, and during the day the securities set a new record value. Quotes of shares of Oracle added 6.6% after the video service TikTok and its owner, the Chinese ByteDance, signed agreements to transfer the U.S. division of the service worth $ 14 billion to a joint venture between Oracle, Silver Lake and MGX.

"The trend remains positive, and a Santa Claus rally at the end of the year will surprise no one. I expect nothing less than a strong end to the year and a strong start to 2026," Louis Navellier, chief investment officer and chairman of Navellier & Associates, said in a Bloomberg statement.

This article was AI-translated and verified by a human editor