The Santa Claus rally, which began on Dec. 24 last week, seems to have resumed gains after a day of losses on Monday.
Meanwhile, President Donald Trump escalated his long-standing conflict with Federal Reserve Chair Jerome Powell on Monday by threatening a lawsuit over alleged “gross incompetence,” a move that has reignited concerns regarding central bank independence just months before Powell’s term concludes in 2026.
Investors face a quiet week for economic data, with markets scheduled to be closed on Thursday in observance of New Year’s Day.
The 10-year Treasury bond yielded 4.12%, and the two-year bond was at 3.45%. The CME Group's FedWatch tool‘s projections show markets pricing an 83.9% likelihood of the Federal Reserve leaving the current interest rates unchanged in January.
Futures
Change (+/-)
Dow Jones
0.01%
S&P 500
-0.01%
Nasdaq 100
-0.01%
Russell 2000
0.11%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Tuesday. The SPY was down 0.0073% at $687.80, while the QQQ declined 0.0081% to $620.82, according to Benzinga Pro data.
Stocks In Focus
TEN Holdings
TEN Holdings Inc. (NASDAQ:XHLD) shares jumped 16.31% in premarket on Tuesday after announcing a $2.25 million private placement of 991,000 shares at $2.27 per share.
It maintains a weaker price trend over the short, medium, and long terms. Additional performance details, as per Benzinga's Edge Stock Rankings, are available here.
