US Stocks Drift to More Records        12/24 14:33

   Wall Street closed higher and reached more records Wednesday on a 
holiday-shortened trading day.

   NEW YORK (AP) -- Wall Street closed higher and reached more records 
Wednesday on a holiday-shortened trading day.

   The S&P 500 index rose 22.26 points, or 0.3%, to 6,932.05. The Dow Jones 
Industrial Average added 288.75, or 0.6%, to close at 48,731.16, and the Nasdaq 
composite added 51.46, or 0.2%, to 23,613.31

   Trading was extremely light as markets closed early for Christmas Eve and 
will be closed for Christmas Thursday. Roughly 1.8 billion shares traded on the 
New York Stock Exchange on Wednesday, which is roughly a third of the average 
trading day.

   Markets will reopen for a full day of trading on Friday; however volumes are 
expected to remain light this week with most investors having closed out their 
positions for the year.

   The S&P 500 is up more than 17% this year, as investors have embraced the 
deregulatory policies of the Trump administration and been optimistic about the 
future of artificial intelligence in helping boost profits for not only 
technology companies but also for Corporate America. Some of the strongest 
performers this year include Nvidia and Micron Technologies, both companies 
that make chips or other components that power the proliferation of data 
centers across the country.

   Much of the focus for investors for the next few weeks will be on where the 
U.S. economy is heading and where the Federal Reserve will move interest rates. 
Investors are betting the Fed will hold steady on interest rates at its January 
meeting.

   The U.S. economy grew at a surprisingly strong 4.3% annual rate in the third 
quarter, the most rapid expansion in two years, driven by consumers who 
continue to spend in the face of ongoing inflation. There have also been recent 
reports showing shaky confidence among consumers worried about high prices. The 
labor market has been slowing and retail sales have weakened.

   The number of Americans applying for unemployment benefits fell last week 
and remain at historically healthy levels despite some signs that the labor 
market is weakening.

   U.S. applications for jobless claims for the week ending Dec. 20 fell by 
10,000 to 214,000 from the previous week's 224,000, the Labor Department 
reported Wednesday. That's below the 232,000 new applications forecast of 
analysts surveyed by the data firm FactSet.

   Dynavax Technologies soared 38.2% after Sanofi said it was acquiring the 
California-based vaccine maker in a deal worth $2.2 billion. The French 
drugmaker will add Dynavax's hepatitis B vaccines to its portfolio, as well as 
a shingles vaccine that is still in development.

   Novo Nordisk's shares rose 1.8% after the weight-loss drug company got 
approval from U.S. regulators for a pill version of its blockbuster drug 
Wegovy. However, Novo Nordisk shares are still down almost 40% this year as the 
company has faced increased competition for weight-loss medications, 
particularly from Eli Lilly. Shares of Eli Lilly are up 40% this year.

   European markets moved between slight gains and losses. Asian markets were 
also quiet, with Hong Kong moving up 0.2% while Japan's Nikkei 225 fell 0.1%

   Gold prices were flat at $4,502 an ounce, and silver rose 0.8% to $71.69. 
U.S. crude oil was flat at $58.38 a barrel.