Wall Street gains at the beginning of the holiday-shortened trading week
Market Performance: Major U.S. stock indices rose on Monday, with the Nasdaq Composite up 0.5%, the S&P 500 increasing by 0.4%, and the Dow Jones Industrial Average also gaining 0.4%, as the holiday trading week and Santa Claus Rally period approach.
Sector Trends: Eight of the S&P 500's 11 sectors traded positively, led by Energy, while Utilities lagged behind, indicating a generally optimistic market breadth.
Santa Claus Rally Outlook: The upcoming Santa Claus Rally, which occurs during the last five trading days of December and the first two of January, has investors hopeful for a rebound after two years of declines, as historically, three consecutive slumps have not occurred.
Economic Indicators: U.S. Treasury yields increased slightly, with the 2-year yield at 3.49% and the 10-year yield at 4.16%, while the Chicago Fed National Activity Index reported negative growth for September.
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