According to Financial Associated Press on December 24 (Editor Xia Junxiong), on Tuesday, the three major Equity Index futures in the USA fluctuated, while major indices in Europe were mixed.

Market trading is expected to be relatively light this week. Affected by the Christmas holiday, the US stock market will close three hours early on Tuesday and will be closed on Wednesday.

As Christmas approaches, the market anticipates a repeat of the "Santa Claus Rally".

Looking at the historical record of the past 70 years, in the 7 trading days starting from Christmas each year, which includes the last five trading days of the year and the first two trading days of the next year, the US stock market has a high probability of performing strongly. Therefore, these 7 trading days are also referred to as the "Santa Claus Rally."

However, Jay Hatfield, CEO of Infrastructure Capital Advisors, predicts that the market will stagnate in the coming days.

Hatfield still maintains his target for the S&P 500 Index to reach 6000 points by the end of 2024, which means the Large Cap Index will only rise by 0.4% compared to the closing on Monday.

He stated, "We may witness a wave of 'Santa Claus rally', but this rally will not be strong, and we hold a neutral attitude towards the market."

Stocks of American Airlines declined over 3% during Pre-Market Trading, and as of the time of writing, the drop had narrowed to over 1%. Earlier, the FAA announced that American Airlines had grounded all flights nationwide due to technical issues.

Company news

[Meta is reportedly planning to add a display to smart glasses, with the earliest release set for the second half of next year.]

Meta plans to add a display to its Ray-Ban smart glasses as soon as next year. According to sources, Meta is collaborating with eyewear group EssilorLuxottica to incorporate a display into its $300 sunglasses, with new glasses potentially being launched as early as the second half of 2025. The display may be used to show notifications or replies from Meta's virtual assistant.

[Microsoft is reportedly working to add non-OpenAI models to its 365 Copilot product.]

Sources revealed that Microsoft has been working to increase internal and third-party AI models to power its flagship AI product Microsoft 365 Copilot, in order to move away from the underlying technology provided by OpenAI and reduce costs.

According to sources, due to concerns over costs and speed for enterprise users, Microsoft is also seeking to lessen the reliance of 365 Copilot on OpenAI. A Microsoft spokesperson stated that OpenAI will continue to be a partner for the company in cutting-edge models. The original agreement between the two companies allows the software giant to customize OpenAI's models.

Insiders added that in addition to training its own small model (including the latest Phi-4), Microsoft is also working to customize other open heavyweight models to make the 365 Copilot faster and more efficient.

[SpaceX, Amazon, and International Airlines Group are negotiating Wi-Fi related cooperation]

On December 24, news broke that International Airlines Group is in discussions with Musk's SpaceX to equip its fleet with Wi-Fi services. International Airlines Group executive Annalisa Gigante stated in an interview that no final decision has been made yet, and they are weighing options from several suppliers, including Amazon's Kuiper.

[Netflix sues Broadcom's VMware, claiming patent infringement]

On Monday, Netflix filed a lawsuit against Broadcom in a California federal court, claiming that Broadcom's VMware infringed on Netflix's patents in the field of virtual machines.

Events to watch during the US stock market hours (Beijing time)

December 24.

23:00 USA December Richmond Fed Manufacturing Index.