US Markets Soar to Record Highs: S&P 500, Dow, Nasdaq Hit New Peaks

• S&P 500, Dow Jones, and Nasdaq Composite all closed at new record highs in a holiday-shortened session.
• The market rally was driven by strong US Q3 GDP data (4.3% vs 3.2% estimated) and significant buying in major tech companies.
• Nike shares surged 4.6% after Tim Cook's disclosure, while Micron Technology and Citigroup also saw notable gains.
• Expectations for early 2024 interest rate cuts slightly lowered despite strong GDP, but two cuts by end-2026 are still anticipated.
• Investors are eyeing a "Santa Claus Rally" from December 24 to January 5, with S&P 500 potentially reaching 7,000.

Why It Matters: US stock markets achieved new record highs, driven by strong GDP and tech sector buying, despite holiday trading.