Stock market today: Asian shares are mostly lower, with most world markets closed for Christmas
Associated PressBANGKOK — Shares slipped in Tokyo and Shanghai on Wednesday, two of only a handful of world markets open on Christmas day. Gains in Big Tech stocks helped the S&P 500 to a 1.1% gain, while the Dow Jones Industrial Average rose 0.9%. Elsewhere in the market, U.S. Steel rose 1.9% a day after an influential government panel failed to reach consensus on the possible national security risks of the nearly $15 billion proposed sale to Nippon Steel of Japan. Tuesday’s U.S. market “Santa rally” comes as the stock market enters what’s historically been a very cheerful season. So far this month, the U.S. stock market has lost some of its gains since President-elect Donald Trump’s win on Election Day, which raised hopes for faster economic growth and more lax regulations that would boost corporate profits.