Update for Wednesday December 27, 2023

Markets Completing a cycle

Yesterday's stock market session ended on a positive note, marked by gains across the board during the festive Santa Claus rally period, which traditionally includes the last five trading days of the year and the first two of the new year. Despite a somewhat subdued participation level, attributed to the holiday-shortened week and investors in vacation mode, the market showed resilience. The three major indices - the Nasdaq Composite, S&P 500, and Russell 2000 - all recorded gains. Notably, the S&P 500 approached its record high, trading within 15 points of its all-time high close of 4,796.