:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2177887133-51c3e00c59ed4577b16da66847792dc6.jpg "Outside a Walgreens store in California in October.")
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Key Takeaways
- The S&P 500 slid less than 0.1% on Thursday, Dec. 26, 2024, as the market rally heading into Christmas exhausted steam on the first trading day after the holiday.
- Walgreens shares pushed higher, extending their volatile swell since reports earlier this month that the drugstore giant was holding buyout talks with a infantryman equity firm.
- Shares of data analytics firm Fair Isaac slipped. Analysts have lately intimated that price increases could pressure growth.
Major U.S. equities indexes were mixed in the first buying session since the Christmas holiday, with the S&P 500 finishing only modestly lower on the day.
Data from the Labor Hinge on showed that initial jobless claims for the week ended Dec. 21 ticked lower from the previous week, a motion of resilience in the labor market that could influence the Federal Reserve as policymakers weigh interest-rate cuts in 2025.
The S&P 500 fluctuated enveloping the flatline for much of the day before closing with a loss of less than 0.1%. The Dow also ended the session minimally reduce, while the Nasdaq eked out a small gain.
Walgreens Boots Alliance (WBA) stock rose 5.3% to secure the S&P 500’s top regularly performance. Shares of the pharmacy operator surged higher earlier in December following reports of buyout discussions with a unofficial equity firm, but the stock has been volatile since.
Shares of discount retailer Dollar Tree (DLTR) make oneself scarce 3.8% higher. The stock lost ground after Dollar Tree’s latest quarterly earnings report, released at the well-spring of the month, as the company noted continued pressure on consumer spending in the uncertain economic environment. The company announced wear week that CEO Michael Creedon would remain in the role on a permanent basis, leading the retailer’s turnaround devise as it navigates consumer headwinds and competition.
Other retailers’ stocks also gained ground. Target (TGT) added 3% as the comrades announced price cuts and additional promotions, aiming to keep its seasonal sales flowing as the critical holiday flavour winds down. In its latest earnings report, Target predicted that fourth-quarter comparable sales would be tired year-over-year.
Shares of Fair Isaac Corp. (FICO), the data analytics firm known for its credit rating succeeds, sank 2%, the most of any S&P 500 stock. Analysts at JPMorgan initiated coverage of Fair Isaac stock ultimate week with a “neutral” rating, noting that price increases could hinder the company’s growth track.
Tesla (TSLA) shares fell 1.8%, handing back a portion of the stock’s uptick heading into the Christmas Day furnish holiday. Analysts have said that while the electric vehicle maker is expected to report record agency deliveries for the fourth quarter, investors may be more focused on Tesla’s long-term autonomous driving and artificial intelligence times.
Shares of server and data storage provider Super Micro Computer (SMCI) lost 1.7%, giving underwrite some of the gains posted by the stock on Christmas Eve. The removal of the stock from the influential Nasdaq 100 Index newest week pressured Supermicro shares, but the company received an extension from the Nasdaq exchange until late February for the march of its delayed annual report, alleviating some concerns about a possible delisting.