NEW YORK, New York - U.S. stocks rose on Monday as investors and traders once again weighed into technology shares. Trading will be limited this week as traders will down tools at 1:00pm on Christmas Eve (24 December 2025) and will be closed on Christmas Day. Last minute shopping however saw all the major indices gain ground Monday.
"From a market perspective, there's not a whole bunch of things that are going to move it, in my opinion, so everybody is, rightfully so, looking for the Santa Claus rally," Will McGough, deputy chief investment officer at Prime Capital Financial, told CNBC Monday.
"The market is forecasting like 14% earnings growth for 2026-2027, which is a big number," tMcGough said. "There's going to be hiccups along the way," he added.
The benchmark Standard and Poor's 500 advanced 43.99 points, or 0.64 percent, to close at 6,878.49.
The Dow Jones Industrial Average rose 227.79 points, a gain of 0.47 percent, finishing the session at 48,362.68.
The tech-heavy NASDAQ Composite also climbed, adding 121.21 points to reach 23,428.83, an increase of 0.52 percent.
Market Analysis
The session marked a solid, across-the-board advance for North American equities. The positive momentum suggests sustained investor confidence amid steady economic data. The outperformance of the S&P/TSX Composite, which is heavily weighted toward financial and resource stocks, may indicate particular strength in those sectors compared to the more technology-focused U.S. indexes. The uniform gains across the Dow, S&P 500, and NASDAQ point to a healthy, broad-based rally rather than a move driven by a narrow segment of the market.
U.S. Dollar Slides Across the Board in Monday Trading Session
The US dollar faced broad-based selling pressure on Monday, losing ground against all major global currencies in a clear shift in market sentiment.
The dollar's decline was most pronounced against commodity-linked currencies. The Australian dollar led the charge, with the AUD/USD pair surging 0.76 percent to 0.6655. The New Zealand dollar followed closely, as the NZD/USD pair gained 0.70 percent to 0.5794.
UK and European majors also posted solid advances. The British pound was a standout performer, with GBP/USD jumping 0.65 percent to 1.3458. The euro registered a firm gain, with the EUR/USD pair rising 0.41 percent to 1.1756.
The greenback also weakened against traditional safe-haven currencies, contrary to typical correlated movements. The Swiss franc strengthened, pushing the USD/CHF pair down 0.40 percent to 0.7920. The Japanese yen advanced, with the USD/JPY pair falling 0.46 percent to 156.98.
The Canadian dollar rounded out the gains, causing USD/CAD to drop 0.34 percent to 1.3749.
Market Analysis
Monday's price action indicated a decisive move away from the U.S. dollar. The simultaneous strength in both risk-sensitive currencies (like the AUD and NZD) and classic safe-havens (like the JPY and CHF) suggests a specific dollar sell-off, rather than a broad risk-on or risk-off theme. This could reflect shifting expectations for relative central bank policies, positioning adjustments, or a reaction to specific US economic data, leading to a uniform decline in the dollar's value against its peers.
Global Markets Diverge to Start Week; Asia Leads Gains While Europe and Egypt Retreat
Monday's trading session painted a clear picture of regional divergence, with Asian and Pacific markets charging ahead while European benchmarks and a key African index posted modest declines. Here is a full rundown of the closing quotes for all provided indices:
Canadian Markets Gain
The S&P/TSX Composite posted the strongest gain of the North American indices, jumping 244.33 points, or 0.77 percent, to end the day at 32,000.10.
UK and European Indices (Mostly Lower)
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FTSE 100 (UK): 9,865.97, down 31.45 points or 0.32 percent.
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DAX (Germany): 24,283.97, down 4.43 points or 0.02 percent.
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CAC 40 (France): 8,121.07, down 30.31 points or 0.37 percent.
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Euro Stoxx 50: 5,743.69, down 16.66 points or 0.29 percent.
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Euronext 100 Index: 1,707.72, down 6.19 points or 0.36 percent.
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BEL 20 (Belgium): 5,056.04, down 18.48 points or 0.36 percent.
Asia-Pacific Indices (Sharply Higher)
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Nikkei 225 (Japan): 50,402.39, up 895.18 points or 1.81 percent.
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KOSPI (South Korea): 4,105.93, up 85.38 points or 2.12 percent.
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S&P/ASX 200 (Australia): 8,699.90, up 78.50 points or 0.91 percent.
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All Ordinaries (Australia): 9,000.70, up 82.40 points or 0.92 percent.
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S&P/NZX 50 (New Zealand): 13,508.30, up 174.90 points or 1.31 percent.
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Hang Seng Index (Hong Kong): 25,801.77, up 111.24 points or 0.43 percent.
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STI Index (Singapore): 4,610.29, up 40.51 points or 0.89 percent.
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S&P BSE Sensex (India): 85,567.48, up 638.12 points or 0.75 percent.
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IDX Composite (Indonesia): 8,645.84, up 36.29 points or 0.42 percent.
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TWSE Index (Taiwan): 28,149.64, up 453.29 points or 1.64 percent.
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SSE Composite Index (China): 3,917.36, up 26.92 points or 0.69 percent.
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FTSE Bursa Malaysia KLCI: 1,671.29, up 5.39 points or 0.32 percent.
Middle East and African Markets (Mixed)
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TA-125 (Israel): 3,723.24, up 18.86 points or 0.51 percent.
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EGX 30 (Egypt): 41,102.80, down 245.60 points or 0.59 percent.
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Top 40 USD Net TRI Index (South Africa): 6,971.61, up 95.66 points or 1.39 percent.
Market Summary
The trading day underscored a stark east-west split. Momentum in Asia was broad-based and strong, led by Japan's Nikkei and South Korea's KOSPI. In contrast, European markets displayed uniform caution, with losses across major bourses. Egypt's EGX 30 stood out as the sole declining index outside of Europe, while South Africa's Top 40 joined the broader positive trend seen in Asia and the Pacific.
(This report incorporates quotes retrieved with the assistance of artificial intelligence).
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