The S&P 500’s gains were accelerating Friday afternoon, but the index’s sharp rebound still wasn’t large enough to bring about the traditional turn-of-the-year "Santa Claus rally." The Santa Claus rally period spans seven trading days ending with the close of the second stock-market session of the new year — and historically,

US stocks jumped on Friday, ending a five-day losing streak for the S&P 500, Dow Jones, and Nasdaq 100. Risk-on stocks in the consumer discretionary and technology sectors led the market higher. Stocks hit session highs around the same time Congressman Mike Johnson was reelected to Speaker of the House,