LIVE MARKETS-Santa's sleigh slides back, but stocks still skate to big gains in '24

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

SANTA'S SLEIGH SLIDES BACK, BUT STOCKS STILL SKATE TO BIG GAINS IN '24

Wall Street moved lower on Tuesday as investors closed the books on a remarkable year for equities, during which the U.S. stock market was powered to record highs by the twin engines of an artificial-intelligence boom and the U.S. Federal Reserve's first interest rate cuts in three-and-a-half years.

The S&P 500 index .SPX is now off 1.55% during the Santa Claus Rally period which runs the last five trading days of December through the first two trading days of January.

Going back to 1969, the SPX on average has gained 1.3% during this period, according to data from the Stock Trader's Almanac.

The S&P 500 index lost 2.5% for the month of December, but gained 2.1% for the quarter. It has now risen five quarters in a row.

For 2024, the benchmark index advanced 23.3%, bringing its two-year increase to around 53%. That's the biggest rolling two-year gain since a 66% surge in the 1997-1998 period.

Here is Tuesday's closing snapshot:

(Terence Gabriel)

*****

FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:

WHEN IT CAME TO CUTTING-EDGE THEMES, MAG 7 STILL RULED THE ROOST IN 2024 - CLICK HERE

TURNING DOWN THE THERMOSTAT: HOME PRICE GROWTH POSTS YEAR-ON-YEAR COOLDOWN - CLICK HERE

WALL STREET OPENS LAST 2024 SESSION HIGHER - CLICK HERE

S&P 500 INDEX: YEAR-END STUMBLE STAINS OTHERWISE STRONG YEAR - CLICK HERE

ISRAEL SHARES EMERGE AS UNLIKELY WINNERS OF 2024'S STOCK SURGE - CLICK HERE

GAS WARNING - CLICK HERE

A SAFE HAVEN YEN IN A STORMY 2025? - CLICK HERE

THIN NEW YEAR'S EVE TRADING - CLICK HERE

BEFORE THE BELL: NO SANTA FOR 2024, FTSE FUTURES DIP - CLICK HERE