Every sector was in the green on Tuesday, with Consumer Discretionary (XLY) leading the way. The laggard was Health Care (XLV), although it was still up 0.41%.

Market breadth was positive overall, although volume was light on account of the half day trading session. The only negative point is the fact new lows still outpace new highs.

Market Breadth	NYSE	NASDAQ
Advancers	1,965	2,720
Decliners	817	1,500
New Highs	28	67
New Lows	80	106
Up Volume	1.05 billion	3.28 billion
Down Volume	298.69 million	936.37 million

The market sentiment is better, but it still remains in Fear territory.

Today’s Session

The Santa Clause Rally has started despite major indices opening down. Santa may be tired after delivering all those packages and returns to investors (S&P up 26.63% ytd).

The Ten-Year Treasury Yield (TNX) continues heading higher, up 4.2 basis points this morning and crossing the 4.6% level.

Bitcoin (BTC) saw a Holiday Season bump up to nearly $100,000 yesterday, before coming back down into the start of today.

Claims

Initial Jobless Claims came down by 1,000, to 219,000, from the second week of December and came in below estimates of 224,000.

On the other hand, Continuing Jobless Claims rose to 1.91K from 1.864K in the prior week and above the estimates of 1.88K. This shows the continuation of the trend that people who lose their job are having a tougher time finding a new position and taking longer to do so.

Interestingly, this year has been one of the largest CEO churn years in recent years. The new CEO “class of 2024” will be tested on their execution skills next year.

I hope everyone had a Merry Christmas and Happy Hanukkah.

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