Yahoo Finance·2025-12-23 22:41Market Performance - The S&P 500 rose 0.46% to 6,909.79, the Nasdaq Composite gained 0.57% to 23,561.84, and the Dow Jones Industrial Average edged up 0.16% to 48,442.41 in quiet holiday trading [1][2]. Company Developments - Novo Nordisk advanced on FDA approval of its Wegovy pill, boosting healthcare sentiment [2]. - ServiceNow slid nearly 3% after announcing a $7.75 billion acquisition of cybersecurity firm Armis, impacting large-cap software within the Nasdaq [2]. Economic Indicators - Third-quarter GDP growth of 4.3% indicates firm economic momentum, supporting risk appetite as markets remain near record levels [3]. - Resilient growth allows the Federal Reserve to maintain a patient stance on rate cuts, with forecasts extending into 2026 [3]. Sector Trends - Mega-cap technology and AI stocks are primary drivers of index performance, which can elevate indexes while masking thinner participation [4]. - The strength in healthcare following Novo Nordisk's approval reflects investor interest in businesses with predictable demand amid ongoing questions about rates and growth [4]. Market Mechanics - Holiday trading schedules are thinning volume, making price action more susceptible to positioning, thus daily moves may be less reliable [5]. - Investors are likely to overlook short-term fluctuations until markets fully reopen, when upcoming economic data and early-year earnings guidance will provide clearer insights [5].