Important points
Moderna’s stock price soared after a report listed the vaccine maker as a top stock for 2025.
Stocks delivered solid returns for investors in 2024, but major U.S. stock indexes fell on the final trading day of the year, extending a series of post-Christmas losses.
The S&P 500 regained early morning gains and ended New Year’s Eve trading 0.4% lower. The Nasdaq Composite Index fell 0.9%, while the Dow Jones Industrial Average fell less than 0.1% as investors bid farewell to a strong year for the tech sector.
Tesla (TSLA) stock fell 3.3%, the biggest decliner among the S&P 500 stocks. Automakers are expected to release quarterly vehicle deliveries as the new market year begins on Thursday. Analysts expect Tesla to set a record for fourth-quarter deliveries, but even if the results match high consensus expectations, the full-year total will still be below guidance. After the presidential election, the stock soared as analysts predicted how Tesla would benefit as CEO Elon Musk begins his role in the next administration, but the stock price soared this year. The stock price fell in a few trades.
Nvidia (NVDA) stock posted an impressive gain of over 170% in 2024, but the semiconductor giant’s stock was down 2.3% in the year’s final trading. Still, analysts maintain positive long-term expectations for the chipmaker, predicting strong growth driven by artificial intelligence (AI), gaming and enterprise markets.
Shares of Texas-based power generation company NRG Energy (NRG) fell 2.1%. The weakness reversed a small portion of the stock’s gains over the year, as investors evaluated the opportunity for power companies to power energy-intensive AI data centers. Despite Tuesday’s decline, NRG stock ended 2024 up nearly 75%.
Moderna (MRNA) stock rose 5.6%, marking the S&P 500’s best daily performance in 2024 close trading. Barron’s highlights the vaccine maker’s stock as a top stock for next year, noting that the stock appears to be undervalued after falling more than 50% year-to-date. Analysts remain concerned about Moderna’s high research and development (R&D) spending, but the potential for a cytomegalovirus vaccine or personalized cancer vaccine could ultimately boost sales. .
A rise in crude oil futures prices on Tuesday helped lift many oil and gas stocks on positive indicators for Chinese manufacturing. Shares of exploration and production company APA Corporation (APA) rose 3.0%, and shares of refiner Marathon Petroleum (MPC) rose 2.9%.
Shares in frozen potato retailer Lamb Weston (LW) rose 2.9%. The stock has seen wild swings in the last few trading sessions of 2024, as activist investor Jana Partners has teamed up with another former company executive to push for change at the company. Lamb Weston installed a new CEO earlier this month following pressure from Yana after the company reported a quarterly loss and lowered its full-year outlook.
