S&P 500 sets a new all-time high on Christmas Eve — How S&P 500 added $18 trillion in market value since the April 2025 bottom

Market Overview - The S&P 500 reached a new intraday record of 6,920.88 on Christmas Eve, driven by AI and technology megacaps, despite a subdued trading environment due to holiday-thinned liquidity [6][15] - The Dow Jones Industrial Average rose 96.79 points to 48,539.20, while the Nasdaq Composite dipped 7.56 points to 23,554.29, reflecting selective buying rather than broad market strength [6][15] Economic Indicators - U.S. GDP grew at a 4.3% annualized pace in the third quarter, indicating strong economic growth [2][17] - Consumer confidence slipped in December, suggesting households are becoming more cautious about future spending [2][17] - Weekly jobless claims fell to 214,000, a decrease of 10,000 from the previous week, while continuing claims rose to 1.923 million, indicating a stable labor market without major hiring acceleration [11][17] Sector Performance - AI and technology stocks, including NVIDIA and Tesla, significantly contributed to the S&P 500's gains, while healthcare stocks showed relative strength [4][6] - Energy and gold-related equities lagged, reflecting selective trading rather than broad sector rotations [4][6] Company-Specific News - Nike gained nearly 5% after Apple CEO Tim Cook purchased $3 million in shares, signaling confidence amid a turnaround and improving demand from China [7][9] - Dynavax surged over 38% following Sanofi's agreement to acquire the vaccine maker for $2.2 billion, demonstrating the influence of M&A activity during low-volume sessions [7][9] Forward Outlook - Analysts anticipate continued gains in 2026, with LPL Financial projecting the S&P 500 could reach 7,269 by year-end, implying mid-single-digit upside from current levels [13][17] - The Santa Claus rally may provide a modest tailwind, but low volatility and holiday-thinned trading volumes suggest that records could be fragile [14][17]