The S&P 500 is climbing toward its first gain since Christmas. The main gauge of Wall Street’s health rose 1.3% Friday and was on track to break a five-day losing streak, its longest since April.

The U.S. stock market had a banner year, but the holiday season has been far from festive. The S&P 500 logged 57 record highs in 2024, the sixth most since 1928, while also recording consecutive 20% gains for the fifth time on record.

Indexes fell in their first trading day after Christmas as traders hope for a so-called Santa Clause rally to propel markets higher into the new year.

After closing higher in Tuesday's abbreviated session, the Dow Jones Industrial Average finished today up 0.07% at 43,325, while the S&P 500 was 0.04% lower at 6,037, and the Nasdaq Composite had shed 0.05% to 20,020.

Shares are lower in Tokyo and Shanghai, two of only a handful of world markets open on Christmas day. Oil prices rose.