Index Slips as Stocks Close Out Strong Year | Global News Avenue

While stocks have provided investors with solid returns in 2024, major U.S. stock indexes were lower on the final trading day of the year, extending a series of post-Christmas losses.

The S&P 500 gave up early gains and closed down 0.4% on New Year’s Eve. The Nasdaq Composite fell 0.9%, while the Dow fell less than 0.1% as investors bid farewell to a strong year for the technology sector.

Tesla (Tesla) shares fell 3.3%, the largest decline among S&P 500 stocks. The car manufacturer is Quarterly delivery data to be released As the new market year begins on Thursday. While analysts expect Tesla to record fourth-quarter deliveries, even if the results match consensus expectations, the full-year delivery total will still be lower than expected. Although the stock soared after the presidential election as analysts predicted how Tesla would benefit as CEO Elon Musk begins serving in the incoming administration, the stock ended the year fell in several trading days.

Although NVIDIA (NVDA)’s stock price has achieved an astonishing rise of more than 170% in 2024, but the semiconductor giant’s stock price fell 2.3% on the last trading day of this year. Even so, analysts maintain optimistic long-term expectations for the chipmaker, predicting that artificial intelligence (AI), gaming and enterprise markets will drive strong growth for the company.

Shares of Texas power generator NRG Energy (NRG) fell 2.1%. The downturn reversed a small portion of the stock’s full-year gains as investors assessed opportunities for utility companies to power energy-intensive AI data centers. Despite Tuesday’s losses, NRG stock ended 2024 up nearly 75%.

modern (messenger RNA) shares rose 5.6%, marking the S&P 500’s best one-day closing performance in 2024. Barron’s Highlighting the vaccine maker’s stock as a top pick for the coming year suggests the stock appears undervalued after falling more than 50% so far this year. While analysts remain concerned about Moderna’s increased research and development (R&D) spending, the potential implementation of a cytomegalovirus vaccine and a personalized cancer vaccine could ultimately boost sales.

Upbeat data on China’s manufacturing sector pushed crude oil futures higher on Tuesday, sending several oil and gas stocks higher. Shares of exploration and production company APA Corp. (What) rose 3.0%, while refiner Marathon Petroleum Corp (multipoint control) rose 2.9%.

Shares in frozen potato distributor Lamb Weston (long wave) rose 2.9%. The stock saw significant volatility in the final few trading days of 2024 as activist investor Jana Partners stepped up its push for change at the company by teaming up with another former company executive. Earlier this month, Lamb Weston bowed to pressure from Jana to appoint a new chief executive after reporting a quarterly loss and cutting its full-year forecast.