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The ASX 200 is expected to stay ever so slightly in the green at open on Christmas Eve after the Wall Street Santa rush (mostly) ploughed on through weaker-than-expected U.S. consumer confidence reported on Monday.

The Magnificent Seven was responsible for most of the continuing upward trends in the U.S., with the heavy-hitter tech stocks keeping the Nasdaq composite up 1%. The S&P 500 managed to stay close behind, up 0.7%.

Not everyone was a clear winner though, with the Dow Jones up just 0.16% enough to stretch its winning streak to three days either way.

In crypto, Bitcoin fell again to US$92,922 days after its latest all-time high pop.

Comparatively, 10-year Treasury bonds hiked 4.56% through the day.

Back home, expect the ASX to close early today: Things will wrap up on the Australian bourse just after 2pm AEDT as the country prepares to celebrate Christmas. The markets will then be shut through Christmas Day and Boxing Day – the next time eager investors can make trades these holidays will be December 27.

“Last week’s action should now mark the end of the recent pullback and allow a Santa Claus Rally,” BTIG market analyst Jonathan Krinsky said. “We do think a deeper correction early in ’25 is likely, albeit from a new all-time high.”

Elsewhere, the International Monetary Fund has backed the RBA’s stance on rates – and its limited chops recently – as it praised the Aussie central bank for avoiding “an expansionary stance” through its fiscal moves.

Paladin Energy (ASX:PDN) has squeezed in its $1.5 billion Fission Uranium takeover just before Christmas, confirming the major acquisition earlier today.

Also just before the two-day ASX break, AVITA Medical (ASX:AVH) has scored a huge victory regarding its RECELL GO Mini disposable cartridge, which has just received FDA approval. The mini cartridge is designed to treat small wounds.

Looking at forex, the Aussie dollar is buying 62.4 US cents.

To commodities, which are in the greenback,

Iron Ore has bounced back to $101.20 a tonne in Singapore,

Brent Crude is trading at $73,

Gold is trading at $2,619 per ounce, and, 

US natgas futures are at $3.71 per gigajoule.

That’s Market Open, I’m Isaac McIntyre, stick with me for HotCopper’s Market Close.

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