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.

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

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.

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.'