U.S. stocks rallied today, with all three major indexes higher for a third straight session as AI and tech leadership powered a holiday‑week “Santa Claus” bid and gold notched fresh records.
The S&P 500 rose about 0.6%–0.7%, its third consecutive gain, moving back toward record territory and reclaiming key short‑term technical levels.
The Dow climbed roughly 0.5%, adding around 200–250 points and holding near all‑time highs despite continuing rotation into growth and tech.
The Nasdaq gained about 0.5%–0.6%, extending a multi‑day rebound as large‑cap AI and semiconductor names resumed leadership.
Technology led again, helped by renewed strength in AI‑linked semiconductors and mega‑cap growth, pushing the S&P tech sector to one of the best performances on the day.
Bitcoin traded around $88,328, down 0.35%, remaining rangebound below the psychologically important $90,000 level amid slowing ETF inflows and thin holiday liquidity. Strategy Inc. (Michael Saylor’s company) paused Bitcoin purchases and built cash reserves to $2.19 billion, signaling caution amid the cryptocurrency’s roughly 30% decline from its October peak.
Gold broke above $4,400 per ounce to hit fresh all-time highs, while silver surged near $70, driven by expectations of Federal Reserve rate cuts in 2026 and safe-haven demand amid Middle East tensions.
Today kicked off a holiday‑shortened week, with many desks pointing to lighter expected volumes and a focus on year‑end positioning rather than fresh macro catalysts.
It will be interesting to see if TSLA hits the magic $500 number this week. It came within a buck of it today and backed off.
Some material names that are starting to look interesting include CLF and VALE. The group looks pretty good here. I think both are actionable if you’re looking for some exposure to this sector.
NVDA looks good to me as it finally seems to be coming out of that falling wedge (NVDL 2X).
ORCL intrigues me down here. It has been beaten to death and may be overdone. ORCX is the 2X play if you are more aggressive, but it may play into year-end and January, when they start coming for some of the really oversold names. It’s not without risk because ORCL has a very high debt load.
OPEN was stopped a few weeks ago, but I can’t not love that bullish coil, so this one is also worth a look, and I may add it soon. Actionable here.
The quantum stocks woke up today, which suggests risk is back on for now. RGTI, QUBX, QBTS, IONW, and LAES had great days after going to the wood chipper last month.
See you guys in the chatroom in the morning, and good luck this week.