Asian markets slip on Christmas closures; Wall Street posts gains

Asian markets mostly fell Wednesday as most global markets remained closed for Christmas.

• Asian markets: Japan’s Nikkei 225 dipped 0.1% to 38,997.02, and the Shanghai Composite lost 0.2% to 3,387.41.
• Oil prices: U.S. crude rose $0.93 to $70.17 per barrel, while Brent crude added $0.06 to $73.23.
• Currency movements: The dollar rose to 157.37 yen, while the euro strengthened to $1.0431.
• U.S. Stock Highlights: On Tuesday, Wall Street ended higher in a holiday-shortened session:

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1.  S&P 500 gained 1.1%.
2.  Dow rose 0.9%.
3.  Nasdaq climbed 1.3%.
4.  Leading gains were Tesla (+7.4%), Super Micro Computer (+6%), and Broadcom (+3.2%).

• Notable performers: NeueHealth surged 74.9% after agreeing to go private in a $1.3 billion deal. U.S. Steel rose 1.9% amid ongoing scrutiny over its potential sale to Nippon Steel.
• Market context: Wall Street’s “Santa rally” follows a historically strong year-end trend. Despite some concerns over inflation and global trade policies, the S&P 500 remains up 26.6% in 2024, nearing its all-time high.