S&P 500 Hits Record High Amid Santa Claus Rally Hopes, Fed Rate Cut Bets

• The S&P 500 index reached an all-time high of 6,937 points on Wednesday, surpassing its previous record.
• US markets saw a "Santa Claus rally" before Christmas, with gains across most sectors despite low trading volume.
• Investors anticipate Federal Reserve interest rate cuts next year, fueled by recent mixed economic data.
• US economy grew faster than expected in Q3, but consumer confidence declined and factory output stagnated.
• Micron Technology surged 4%, Nike rose 4.7% after Tim Cook's share purchase, and Dynavax Technologies jumped 38.5% on acquisition news.

Why It Matters: US markets rallied to record highs, driven by holiday optimism and rate cut expectations, despite mixed economic signals.