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INVESTORS AWAIT TO SEE IF SANTA WILL STUFF THEIR STOCKINGS

U.S. stock index futures are mixed and muted ahead of Tuesday's shortened trading session, with Wall Street entering a historically strong period, and on track for its second-straight year of gains.

Stocks are now in a historically strong period called the "Santa Clause rally". The S&P 500 on average has gained 1.3% in the last five days of December and first two days of January, according to data from the Stock Trader's Almanac going back to 1969.

At Monday's 5,933.93 close, the S&P 500 index .SPX ended down 2.06% from its 6,099.97 December 6 record intraday high and 1.91% from its 6,090.27 December 6 record closing high.

The benchmark index is up 25.2% YTD, which has it on pace for its biggest yearly rise since a 26.9% advance in 2021. It has also scored 57 record closing highs this year, which is its most since 70 in 2021.

S&P 500 sector SPDR ETFs are relatively quiet ahead of the open. Utilities XLU.P, up around 0.4%, are the leading gainer. Tech XLK.P is also higher as is energy XLE.P. Of note, NYMEX crude futures Clc1 are higher, and on Monday NYMEX natural gas futures NGc1 hit their highest level since January 2023.

The U.S. 10-Year Treasury yield US10YT=RR has hit 4.619% which is a fresh high back to May 30, 2024. The yield's May 29 high was at 4.638%.

The regular equity market session will finish at 1:00 p.m. ET on Tuesday and markets will be closed for Christmas on Wednesday.

Here is a premarket snapshot from shortly before 9:00 a.m. ET:

(Terence Gabriel)

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FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:

IGNORE MARKET BREADTH AT YOUR OWN PERIL - CLICK HERE

STOXX UP, NO XMAS CHEER FOR UK HOMEBUILDERS CLICK HERE

EUROPE BEFORE THE BELL: FESTIVE TRADING CLICK HERE

(Terence Gabriel is a Reuters market analyst. The views expressed are his own)