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Stocks Set Fresh Records in Shortened Session as Jobless Claims Fall and Biotech News Moves Markets

Falling jobless claims reinforced a sturdy labor picture that kept rate policy in focus.

Overview

  • U.S. indexes closed higher at fresh records in an early finish for Christmas Eve, with the S&P 500 up 0.3% to 6,932.05, the Dow up 0.6% to 48,731.16 and the Nasdaq up 0.2% to 23,613.31.
  • Initial jobless claims fell to 214,000 for the week ended Dec. 20, undershooting expectations of 223,000 and signaling ongoing labor-market resilience.
  • Omeros surged after the FDA approved YARTEMLEA to treat hematopoietic stem cell transplant–associated thrombotic microangiopathy.
  • Dynavax rallied after Sanofi said it would buy the vaccine maker, adding to biotech deal momentum.
  • Edgewise jumped on Phase 2 trial updates, Multi Ways rose on stronger first-half EPS, and Citius slid after reporting better-than-expected quarterly results.