Dow ends week with gains in first night of hopeful Santa Claus rally

Yahoo Finance Live looks to markets in the after-hours trading season.

Video Transcript

- All right, OK, we have to check the markets here, so let's go to the YFi Interactive and see how we closed out the week. Dow up half a percent today, but I'm going to check on the five-day performance here.

We do have the Dow up about 86 basis points, so not even 1% for the week. We also have the S&P 500 up half a percent. Now, for the week, that is underwater, third week in a row that it is underwater.

And then the NASDAQ, up about 2/10 of a percent for the day but down 2% for the week. And just a reminder, the Santa Claus rally starts today. It carries on next week Tuesday, Wednesday, Thursday, Friday, and then the first two days of the new year. That's usually how it goes down.

So in the meantime, let's just do a recap of the sector action for today. We have energy up 3%, followed by utilities, communication services, real estate. You can see everything in the green there. Health care up about 6/10 of a percent but just about equal.

- All right, what's your stock story of the week, my friend?

- Stock story of the week, Tesla.

- Oh, I was going to take Tesla.

- You're always going to take Tesla.

- OK, go, go.

- It's always going to be Tesla and Apple in a week like this because Tesla has just been this unrelenting bear case right now. Everybody's been buying or trying to buy that falling knife, and there's a lot of-- there are a lot of reasons why, valuation wise, people should be stepping in here.

But if Elon is still selling, he's-- and hopefully he's done-- we're going to have to see if that plays out, Dave.

- Yeah, down 18% on the week, down 30% on the month. Worst month ever for Tesla. Somebody can't wait for 2023--

- I almost can't either.

- --and it is Elon Musk. Yeah, I'll give you that. Merry Christmas, my friend.