Futures tied to the Dow Jones Industrial Average and S&P 500 were down 0.3% in recent trading, while those linked to the Nasdaq slipped 0.4%. The major indexes rose on Monday and Tuesday ahead of yesterday's Christmas break, a positive start to the Santa Clause rally that investors hope for, as the U.S. market rebounded from last week's downturn .

The Dow Jones Industrial Average went up 66.69 points or 0.2% to end at 42,906.95 for its third straight daily gain, according to Dow Jones Market Data. The S&P 500 went up 43.22 points or 0.7% to finish at 5,974.07.

The Dow Jones rose on the stock market today. Magnificent Seven names Amazon and Nvidia were strong. American Airlines stock skidded.

US stocks looked set for a mostly muted open to a final, shortened trading session before the Christmas holiday,

Since the start of 2024, the S&P 500 has never once closed below its 200-day moving average, according to Bespoke Investment Group. Barring a sharp selloff between now and the end of the year, this would be only the 12th time since 1952 that this has happened.

Some of the biggest winners were mega-cap tech stocks, with Tesla up by 6% while Broadcom, Netflix, and Amazon each gained about 2%.

The Santa Claus rally got off to a strong start with Tesla leading the Nasdaq higher. Nvidia just topped a buy point.

Kaltbaum Capital Management's Gary Kaltbaum and Scarlet Oak Financial's Frances Newton Stacy give their economic outlook heading into 2025 on 'Your World.'