Stock Market Update

31-Dec-24 10:05 ET
Buy-the-dip takes root
Dow +122.63 at 42696.36, Nasdaq +6.92 at 19493.70, S&P +10.82 at 5917.76

[BRIEFING.COM] The stock market opened higher, benefitting from some buy-the-dip interest after losses in recent sessions. The S&P 500 sports a 0.2% gain, the Nasdaq Composite trades 0.1% higher, and the Dow Jones Industrial Average shows a 0.3% gain. 

Buying activity is broad based, leading the equal-weighted S&P 500 to trade 0.6% higher. All 11 S&P 500 sectors show gains. The energy sector leads the pack, trading 1.2% higher, followed by the rate-sensitive real estate sector (+0.7%) amid falling Treasury yields.

The price action in Treasuries has also contributed to the upside bias in equities. The 10-yr yield is down three basis points to 4.52% and the 2-yr yield is down two basis points to 4.23%. 

Some mega cap stocks have been left out of early gains.  NVIDIA (NVDA 136.52, -0.99, -0.7%) and Broadcom (AVGO 234.74, -0.80, -0.3%) are standouts in that respect. 

Cookies are essential for making our site work. By using our site, you consent to the use of these cookies. Read our cookie policy to learn more.