US stock futures today: Wall Street up as Dow, S&P 500, Nasdaq stay green — is the Santa Claus rally starting?
US stock futures today – Wall Street entered the final stretch of the year with quiet confidence as U.S. stock futures remained largely unchanged late Thursday night. Following a brief but record-breaking Christmas Eve session, investors are assessing a market landscape characterized by resilient tech leadership and fresh corporate deal-making. The S&P 500 recently touched an all-time intraday high, while the Dow Jones Industrial Average secured its highest-ever closing mark. These milestones highlight a “Santa Claus rally” that appears to be arriving early, supported by cooling Treasury yields and a robust appetite for artificial intelligence plays.
This rally caps a stellar year, with megacaps driving gains despite global markets shuttered for Christmas and Boxing Day. Crude oil dipped to $58.35 per barrel, and the 10-year Treasury yield eased to 4.13%. Standouts included Travere Therapeutics, exploding 13.9% to $40.28 on a breakout. Growth ETFs like SMH (up 0.3%) and FFTY (up 0.3%) reflected strength in semis and software. As 2025 nears, watch thin volumes ahead of a potential Santa Claus rally.
Dow futures today dipped 53 points, or 0.11%, to 48,976, easing slightly from recent record levels. S&P 500 futures slipped 0.04% to 6,979, while Nasdaq futures edged down 0.01% to 25,878, holding near highs.
Wednesday’s session stayed bullish in a quiet half-day grind. The Dow rose 0.6% to a record close. S&P 500 gained 0.3%, touching an all-time intraday peak. Nasdaq Composite added 0.2%. Small-cap Russell 2000 climbed 0.3%. Equal-weight ETFs shone: Invesco S&P 500 Equal Weight (RSP) up 0.4%, First Trust Nasdaq 100 Equal Weight (QQEW) up 0.2%. Sector ETFs mixed—Financials (XLF) +0.5%, Health Care (XLV) +0.5%, Energy (XLE) -0.3%.
Market participants are currently focused on a significant strategic move by Nvidia, which recently announced a technology licensing deal with AI chip startup Groq. This development, combined with Palantir’s continued strength and Tesla’s proximity to record valuations, has kept the bullish momentum intact despite the thin holiday trading volumes. As global markets in London, Toronto, and Hong Kong prepare to remain closed for Boxing Day, U.S. futures suggest a stable reopening. While overnight price action in the futures market does not always dictate the next day’s regular session, the underlying data points toward a market that is consolidating gains rather than retreating.
Nvidia and Groq Deal Sparks Tech Sector Momentum
The semiconductor landscape shifted this week following Nvidia’s strategic move to license core technology from Groq, a startup founded by the original architects of Google’s Tensor processing units. While the financial specifics of the agreement remain undisclosed, the deal includes the transfer of key personnel to Nvidia, further solidifying the giant’s grip on the AI hardware sector. Nvidia stock responded with a slight move higher in late-hour trading after finishing Wednesday’s session at 188.61. Investors are closely watching the 212.19 consolidation buy point, though the stock remains technically actionable as it holds firmly above its 50-day moving average.
This partnership is particularly notable because Groq’s technology was designed to compete directly with Nvidia’s GPUs. By absorbing talent and licensing IP, Nvidia is effectively neutralizing a potential long-term rival while enhancing its own architecture. This sentiment spilled over into the broader tech indices, with the VanEck Vectors Semiconductor ETF (SMH) rising 0.3%. Palantir Technologies also continues to command attention, trading at 194.17. The data-analytics firm is currently sitting in a prime buy zone, having successfully broken out from a cup-with-handle base with a pivot point of 190.39.
S&P 500 and Dow Jones Hit Record Highs Amid Broad Rally
The broader market rally showed impressive breadth during the final pre-Christmas session. The Dow Jones Industrial Average climbed 0.6%, marking a new record close, while the S&P 500 edged up 0.3% to hit a fresh intraday peak. Small-cap stocks also participated in the gains, with the Russell 2000 advancing 0.3%. This synchronized movement suggests that the current rally is not solely dependent on “Magnificent Seven” tech giants but is spreading across industrials and financials. The Financial Select Sector SPDR ETF (XLF) and the Industrial Select Sector SPDR Fund (XLI) both saw gains of 0.5% and 0.3%, respectively, indicating a healthy rotation into cyclical sectors.
Fixed income markets provided additional tailwinds for equities as the 10-year Treasury yield retreated by 3.5 basis points to settle at 4.13%. Lower yields typically increase the attractiveness of growth stocks, which was evident in the performance of Travere Therapeutics. Travere emerged as a standout performer, skyrocketing 13.9% to close at 40.28. The biotech firm’s powerful breakout from a short consolidation period has placed it prominently on the IBD 50 list. Meanwhile, energy markets remained subdued, with U.S. crude oil prices dipping slightly to $58.35 per barrel, helping to ease concerns regarding energy-driven inflation.
Tesla and Alphabet Maintain Strength in Key Buy Zones
Tesla and Alphabet remain central to the year-end market narrative as both stocks hover near critical technical levels. Tesla shares ended the Wednesday session at 485.40, maintaining a position just above a major cup base buy point of 474.07. The electric vehicle maker has benefited from renewed optimism surrounding its autonomous driving software. Investors are weighing CEO Elon Musk’s ambitious goals for unsupervised robotaxis in Texas against the stock’s recent surge. Despite a minor fractional dip on Wednesday, Tesla remains the primary holding across several ARK Invest ETFs, signaling continued confidence from high-growth institutional investors.
Alphabet, the parent company of Google, is also displaying constructive price action. The stock closed at 314.09, sitting just below a short-term consolidation downtrend. Market analysts suggest that Alphabet could form a “flat base” pattern as early as next week, providing a new entry point for disciplined investors. The stock currently holds spots on both the Leaderboard and the IBD Big Cap 20. As the market enters the low-volume period between Christmas and New Year’s Day, these megacaps are expected to lead the volatility. While trading is anticipated to be thin until the first full week of 2026, the current technical setups for these leaders suggest the path of least resistance remains upward.
Best growth stocks in buy zones: Nvidia, Palantir Lead
Travere Therapeutics (TVTX) surged 13.9% to $40.28, breaking from consolidation—now on IBD 50. Palantir (PLTR) edged to $194.17, firm in its 190.39 buy zone from a cup-with-handle base. Nvidia (NVDA) dipped to $188.61 but held the 50-day line after a 3% Tuesday pop. Alphabet (GOOGL) at $314.09, hugging a downtrend in early consolidation. Tesla (TSLA) paused at $485.40 above its 474.07 cup base buy point, fueled by robotaxi hype for Austin by year-end.