Stock market today: Live updates

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 67 points, or 2%, while S&P 500 futures added 13 points, or 0.2%. Nasdaq-100 futures rose 56 points, or 0.3%.

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.