LIVE MARKETS-Green Christmas: S&P 500 edges its way to an all-time closing high

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GREEN CHRISTMAS: S&P 500 EDGES ITS WAY TO AN ALL-TIME CLOSING HIGH

The S&P 500 .SPX eked out a record closing high on the Tuesday before Christmas as an olio of economic data failed to cause much reaction amid light trading.

All three major stock indexes logged gains on Christmas Eve eve, sending the benchmark S&P 500 just 0.1% north of its last all-time high reached on December 11.

S&P 500 Banks .SPXBK and the broader Financials Sector .SPSY also settled at their highest-ever close.

Investors favored growth .IGX over value .IVX and outperformers included Communication Services .SPLRCL, Retail .SPXRT, Technology .SPLRCT and the FANG+ group of megacap momentum stocks .NYFANG.

Two reports from the Commerce Department showed falling imports and solid consumer spending sent third-quarter GDP breezing past consensus, while new orders for long-lasting American-made goods fell more than analysts expected.

Separately, the Federal Reserve reported industrial output increased only slightly last month, with a drop in auto production weighing on the headline. Consumers' assessment of their current situation plunged in December, according to the Conference Board, not welcome news as remaining holiday shopping days dwindle to zero.

Sounds a tad grim, but on the other hand, expectations that Powell & Co will implement another interest rate cut in the first half of 2026 are steadily increasing, according to CME's FedWatch Tool.

On Wednesday, the stock market is set to close early, at 1 p.m. EST, but not before mortgage data and jobless claims make their appearances.

Here's your closing snapshot:

(Stephen Culp)

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