S&P 500 Hits Record Highs in Fourth Straight Session
US benchmark indices continued their upward trend for the fourth consecutive session, with the S&P 500 reaching a record closing high. Technology stocks led the gains, driving broad market advances ahead of the Christmas holiday. The Nasdaq outperformed with gains exceeding 0.60%, while the Dow Jones also closed higher. Economic data showed robust Q3 GDP growth at 4.30%, surpassing estimates. However, other indicators presented a mixed picture, with flat industrial production, declining durable goods orders, and falling consumer sentiment. The US Dollar weakened, while precious metals like gold and silver hit new record highs.
*this image is generated using AI for illustrative purposes only.
US benchmark indices extended their winning streak for the fourth consecutive trading session, with the S&P 500 closing at record highs as investors processed the final major economic data releases before year-end. Technology stocks led the advance, driving broad market gains ahead of the Christmas holiday.
Market Performance Overview
The trading session showcased strong momentum across major indices, with technology stocks providing the primary catalyst for gains.
| Index | Performance | Key Details |
|---|---|---|
| S&P 500 | Record closing high | Powered by technology stocks |
| Nasdaq | Outperformed | Gains exceeding 0.60% |
| Dow Jones | Higher close | Traded in narrow range |
Currency and Commodities Movement
The US Dollar faced continued pressure, with the Dollar index falling below 98.00 on Tuesday. This decline extends the greenback's slump and positions it for its worst annual performance since 2017. Conversely, precious metals continued their record-breaking run.
| Asset | Price Level | Performance |
|---|---|---|
| Gold | Above $4,500.00 | New record highs |
| Silver | Above $70.00 per ounce | Crossed key milestone |
| Copper | Above $12,000.00 per tonne | Strong global performance |
Economic Data Highlights
A delayed third quarter GDP print revealed robust US economic performance, with growth reaching 4.30%, well above economist estimates that ranged between 3.50% to 3.80%. However, other economic indicators presented a mixed picture:
- Industrial production remained flat
- Durable goods orders fell more than expected
- Consumer sentiment declined for the fifth consecutive month
Policy Commentary
President Trump attributed the strong GDP growth to his tariff regime and suggested the Federal Reserve should reduce interest rates when the economy and markets perform well. He emphasized on Truth Social that disagreement with this approach would disqualify candidates for the next Fed Chair position.
Kevin Hassett, White House National Economic Council Director and Fed Chair contender, stated that the US has been significantly behind in cutting interest rates. He noted that AI spending currently supports economic growth while simultaneously creating downward pressure on inflation.
Trading Schedule
Wall Street will operate a shortened trading session today, with markets closing early before Thursday's Christmas holiday. This truncated schedule follows the strong four-day rally that has characterized recent market activity.
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