Markets closed higher on Monday, with the Nasdaq leading the way.
At 4:02 p.m. ET, the $Nasdaq Composite Index (.IXIC.US)$ closed up 0.98% at 19,764.
The $Dow Jones Industrial Average (.DJI.US)$ rallied 0.16% to close at 42,906 and the $S&P 500 Index (.SPX.US)$ was 0.73% higher at 5,974.
The tech heavyweights, including $Tesla (TSLA.US)$, $Meta Platforms (META.US)$, and $NVIDIA (NVDA.US)$, all rose at least 2%.
Treasury yields moved higher with 10-year rate nearing 4.6% -- a seven-month high -- after data showed U.S. consumer confidence pulled back this month.
Trading is expected to be quiet this week. The New York Stock Exchange closes early Tuesday for Christmas Eve at 1 p.m. ET, followed by a day of rest on Christmas Day.
Amid the abbreviated trading week, market participants are hoping upcoming trading sessions will bring a “Santa Claus rally,” however, last year this didn't happen. According to the Stock Trader's Almanac, since 1969, the S&P 500, on average, added 1.3% in the last five trading days of the year and the first two in January.
