Traders work on the floor of the New York Stock Exchange on the last day of trading for the year on Dec. 31, 2024 in New York City.
Spencer Platt | Getty Images
Stock futures were slightly higher as trading got underway for 2025, with hopes that the market can regain the momentum that propelled it to log two-straight years of annual gains above 20%.
Futures tied to the Dow Jones Industrial Average rose 162 points, or 0.38%, while S&P 500 futures added 30 points, or 0.51%. Nasdaq-100 futures rose 154 points, or 0.73%.
Although stocks fell in weak trading in the final days of 2024, the year still produced solid returns. The S&P 500 surged 23% last year, while the 30-stock Dow added nearly 13%. Fueled by the enthusiasm around artificial intelligence and interest rate cuts, the Nasdaq Composite outperformed with a 29% advance.
Members of the so-called Magnificent Seven were behind much of the market’s action in 2024. AI chip darling Nvidia notched a 171% gain for the year, while iPhone maker Apple rose 30%. But these big gains led to some profit-taking at the year’s end. The S&P 500 recorded four-straight down days to cap the year — a first since 1966.
All this means, it will be difficult for a “Santa Claus rally” to materialize. That well-known market indicator is usually characterized by rising stocks in the five final days of a calendar year and the first two trading days of January. The broad index rises an average of 1.3% during this period and has finished higher almost 80% of the time, according to Dow Jones market data going back to 1950.
Adding to the pressure, investors may be assessing the impact of a deadly attack in New Orleans on New Year’s Day that is being investigated as a possible terrorist act. The Federal Bureau of Investigation said it’s possible the suspect, who drove a truck into a crowd, wasn’t “solely responsible” for the incident.
The holiday-shortened week has been light on economic data, but Thursday will bring a look at weekly jobless claims that will offer a read on how the labor market is faring.
European stocks kick off 2025 on a positive note
European markets kicked off 2025 trading on a positive note, with the cross-European Stoxx 600 adding 0.28% by 8:11 a.m. London time.
stoxx 600
Oil and gas and mining stocks led gains and were last 1.47% and 1.32% higher respectively. Banks meanwhile dipped 0.1% and media stocks fell 0.33%, making them the only two sectors to pull back.
Major regional bourses also gained on Thursday, with the U.K.’s FTSE 100 adding 0.29%, France’s CAC 40 rising 0.21% and Germany’s DAX climbing 0.55%.
— Sophie Kiderlin
China stocks lead losses with CSI 300 closing down nearly 3%; Asia markets mixed
SINGAPORE — Asian stocks traded mixed Thursday, with China stocks leading losses as several major markets resumed trading after New Year’s Day holiday.
Mainland China’s CSI 300 dipped over 3% lower before narrowing the losses to 2.91%, ending at 3,820.39. Hong Kong’s Hang Seng Index tumbled 2.37% in the final hour of trade.
South Korea’s Kospi index inched lower to close at 2,398.94, while the Kosdaq added 1.24% to 686.63. Australia’s S&P/ASX 200 rose 0.52% and finished at 8,201.2.
Markets in Japan will remain closed for the rest of this week.
— Anniek Bao