US close: Dow adds 500 points as Santa brings his cheer

Wall Street stocks closed in positive territory on Wednesday, as traders refused to give up hope of a possible Santa rally.

At the close, the Dow Jones Industrial Average was up 1.8% at 33,376.48, as the S&P 500 added 1.49% to 3,878.44, and the Nasdaq Composite was ahead 1.54% at 10,709.37.

The Dow closed 526.74 points higher on Wednesday, extending the gains it recorded on Tuesday.

Wednesday's primary focus was the Conference Board's consumer confidence index, with data revealing Americans consumers were unexpectedly more upbeat at the end of 2022.

The consumer confidence index jumped from a reading of 101.4 for November to 108.3 in December - its highest reading since the previous April and well ahead of expectations for a print of 101.

Elsewhere on the economic front, US mortgage applications rose 0.9% in the week ended 16 December, according to the Mortgage Bankers Association, cooling off from the previous week's 3.2% jump.

Applications to refinance a home loan surged 6% as consumers took advantage of a fall in mortgage rates, while applications to purchase a home edged 0.1% lower.

On another note, existing home sales in the US slowed more than expected last month.

According to the National Association of Realtors, in seasonally adjusted terms existing home sales dropped at a month-on-month pace of 7.7% in November to reach an annual rate of 4.09m.

Economists had anticipated a reading of 4.20m.

In the corporate space, Rite Aid tumbled 17.23% despite posting earnings and revenues that beat estimates.

Micron Technology closed up 1.01%, but was last down 1.8% in after-hours action, as it posted its latest set of quarterly results after the closing bell.

Reporting by Josh White for Sharecast.com. Additional reporting by Iain Gilbert.

Dow Jones - Risers

Nike Inc. (NKE) $115.78 12.18%
Boeing Co. (BA) $196.00 4.09%
Caterpillar Inc. (CAT) $241.73 2.80%
Apple Inc. (AAPL) $135.45 2.38%
3M Co. (MMM) $123.46 2.19%
Verizon Communications Inc. (VZ) $37.78 2.14%
Dow Chemical Co. (DOW) $50.67 2.03%
Travelers Company Inc. (TRV) $189.42 1.95%
Goldman Sachs Group Inc. (GS) $350.16 1.65%
Coca-Cola Co. (KO) $63.80 1.61%

Dow Jones - Fallers

Walgreens Boots Alliance, Inc. (WBA) $38.60 -2.35%
Walt Disney Co. (DIS) $86.92 -0.11%
Dowdupont Inc. (DWDP) $0.00 0.00%
Honeywell International Inc. (HON) $0.00 0.00%
McDonald's Corp. (MCD) $268.13 0.34%
Amgen Inc. (AMGN) $266.26 0.57%
International Business Machines Corporation (CDI) (IBM) $142.14 0.61%
Cisco Systems Inc. (CSCO) $47.66 0.61%
Visa Inc. (V) $206.81 0.71%
Walmart Inc. (WMT) $145.20 0.78%

S&P 500 - Risers

Nike Inc. (NKE) $115.78 12.18%
Foot Locker Inc. (FL) $36.00 9.66%
Apache Corp. (APA) $46.67 5.76%
Hasbro Inc (HAS) $57.70 5.31%
Under Armour Inc. Class A (UAA) $9.90 5.21%
Universal Health Services Inc. (UHS) $142.00 4.73%
Carnival Corp. (CCL) $8.48 4.69%
Cintas Corp. (CTAS) $464.39 4.61%
Under Armour, Inc. (UA) $8.63 4.48%
Coty Inc. Class A (COTY) $8.31 4.40%

S&P 500 - Fallers

Walgreens Boots Alliance, Inc. (WBA) $38.60 -2.35%
Western Digital Corp. (WDC) $31.38 -2.18%
Gap Inc. (GPS) $11.94 -1.89%
Altria Group Inc. (MO) $45.59 -1.83%
Stanley Black & Decker Inc. (SWK) $73.25 -1.82%
Hilton Inc (HLT) $127.25 -1.73%
Seagate Technology Plc (STX) $50.24 -1.50%
Sysco Corp. (SYY) $77.14 -1.46%
Fidelity National Information Services Inc. (FIS) $66.82 -1.29%
Marriott International - Class A (MAR) $148.75 -1.10%

Nasdaq 100 - Risers

Hasbro Inc (HAS) $57.70 5.31%
Baidu Inc. (BIDU) $113.29 4.79%
Cintas Corp. (CTAS) $464.39 4.61%
American Airlines Group (AAL) $13.03 3.99%
Charter Communications Inc. (CHTR) $321.34 3.90%
NetEase Inc. Ads (NTES) $72.28 3.69%
Liberty Global plc Series A (LBTYA) $19.11 3.41%
Netflix Inc. (NFLX) $297.96 3.39%
Broadcom Inc. (AVGO) $561.23 3.16%
Asml Holdings N.V. (ASML) $580.96 3.16%

Nasdaq 100 - Fallers

Walgreens Boots Alliance, Inc. (WBA) $38.60 -2.35%
Western Digital Corp. (WDC) $31.38 -2.18%
Biomarin Pharmaceutical Inc. (BMRN) $104.62 -1.58%
Seagate Technology Plc (STX) $50.24 -1.50%
Workday, Inc. (WDAY) $170.08 -1.17%
Marriott International - Class A (MAR) $148.75 -1.10%
Vertex Pharmaceuticals Inc. (VRTX) $290.55 -0.91%
Incyte Corp. (INCY) $80.52 -0.68%
Check Point Software Technologies Ltd. (CHKP) $127.60 -0.34%
Biogen Inc (BIIB) $286.86 -0.23%