Wall Street advances with broad gains, tech gains continue

Market Performance - Micron Technology's stock rose by 4%, contributing to a 1.1% increase in the PHLX semiconductor index, while other chipmakers also advanced [1][10] - The Dow Jones Industrial Average increased by 227.79 points (0.47%) to 48,362.68, the S&P 500 gained 43.99 points (0.64%) to 6,878.49, and the Nasdaq Composite rose by 121.21 points (0.52%) to 23,428.83 [1][10] Economic Indicators - December has historically been a strong month for stock markets, with the S&P 500 averaging a 1.3% increase during the last five trading days of the year and the first two trading days of January since 1950 [3][4][10] - The S&P 500 is up 17% year-to-date, driven by optimism regarding AI, a resilient U.S. economy, and expectations for monetary policy easing [5][10] Sector Performance - Most of the 11 S&P sectors traded higher, with materials up 1.4% and energy up 1.1%, benefiting from rising commodity prices [6][10] - The tech sector gained 0.4%, while financials increased by 1.3%, closing at a record high [6][10] Trading Volume and Market Activity - Trading volumes were light, with 14.57 billion shares traded on U.S. exchanges, below the 20-day average of 16.9 billion shares [7][10] - The CBOE volatility index closed at its lowest level since December 13, 2024, at 14.08, indicating reduced market fear [10] Notable Company Movements - Tesla's stock rose by 1.6% following the restoration of CEO Elon Musk's 2018 pay package by the Delaware Supreme Court [7][10] - Clearwater Analytics Holdings surged by 8.1% after a private equity acquisition deal valued at approximately $8.4 billion was announced [8][10] - Warner Bros. Discovery increased by 3.5% after receiving a personal guarantee of $40.4 billion in equity financing for an acquisition offer [10]