Stocks Poised to Open Higher as Market Looks to Rebound From End-2024 Slump

S&P 500 Starts 2025 on Best Two-Year Run Since Late ’90s

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22 minutes ago

Despite a sluggish performance in the final trading sessions of the year, the S&P 500 finished 2024 with a 23% gain. That came on the heals of a 24% rise in 2023 and marked the first time since the late-1990s that the benchmark stock index registered two consecutive years with gains of more than 20%.

The tech-heavy Nasdaq Composite closed the year up 29%, while the Dow Jones Industrial Average added 13%.

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Nvidia Levels to Watch After Two Years of Massive Gains

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Shares in AI chipmaker Nvidia (NVDA) will be in the spotlight ahead of a presentation by CEO Jensen Huang scheduled for next Monday at the Consumer Electronics Show in Las Vegas.

Investors will be watching for updates from Huang on sales projections for the company’s Blackwell chips and details about Rubin, Blackwell’s successor, which Nvidia plans to release in 2026. Several leading Wall Street firms have named Nvidia as their 2025 “top pick,” pointing out that strong demand for its Blackwell platform positions the company for another year of explosive growth.

Nvidia shares closed out 2024 with a gain of 170% amid surging demand for its silicon as big tech customers—including Microsoft (MSFT), Meta (META) and Alphabet’s (GOOGL) Google—beefed up their AI datacenter and cloud computing infrastructure. Last year’s big gain came on the heels of a 240% increase in 2023.

Since hitting a record high in late November, Nvidia shares have traded within a descending channel, with the price tagging the pattern’s upper and lower trendlines on several occasions since that time.

Investors should watch key support levels on Nvidia’s chart around $130 and $115, while also monitoring important resistance levels near $140 and $150.

Nvidia shares were up 1.6% at $136.50 in recent premarket trading.

Read the full technical analysis piece here.

–Timothy Smith

Major Indexes Poised to Start New Year in Positive Territory

1 hr 1 min ago

Futures tied to the Dow Jones Industrial Average were up 0.7%.

S&P 500 futures were up 0.8%.

Nasdaq 100 futures rose 1%.