Christmas Eve sees increased divergence in US stocks: the three major indices slightly weakened, individual stocks are experiencing extremes

On Christmas Eve, US stocks opened to a cold reception, with the Dow, S&P 500, and Nasdaq collectively declining slightly. The anticipated 'Santa Claus rally' has yet to materialize, and market sentiment leans towards caution. On the individual stock level, there is extreme divergence, with technology, consumer, and pharmaceutical sectors showing both highlights and pressures.

Divergence in tech stocks is significant: Chip giant Intel (INTC) saw its stock price drop over 5% at one point during trading, narrowing to about a 3% decline as of this report, priced at $35.585. The core reason is that Nvidia has suspended testing of its 18A process technology. Although Intel emphasizes that the process is 'progressing smoothly', market confidence in its manufacturing business has been impacted. Notably, Nvidia had previously invested $5 billion in Intel but did not commit to using its manufacturing processes. This change in the cooperation's progress has further raised market concerns.

Consumer stocks break through against the trend: Nike (NKE) became one of the few bright spots, with its stock price rising 3% against the trend. Behind this is Apple CEO Tim Cook's 'real money' support—he spent $2.95 million (approximately 21 million yuan) to increase his stake by buying 50,000 shares of Nike at a price of $58.97 per share. This marks the first time in 20 years that he has personally bought Nike shares in the open market. As a member of Nike's board, Cook's purchase is seen as a strong endorsement of the company's transformation prospects, and several senior executives have also increased their stakes, aiming to boost market confidence.

Pharmaceutical stocks experience a surge: Dynavax Technologies (DVAX) saw its stock price soar 38%, reaching a high of $15.49, a new three-year high. The catalyst was French pharmaceutical giant Sanofi's announcement to acquire the company for $2.2 billion in cash, representing a 39% premium over the previous trading day's closing price. Through this acquisition, Sanofi will obtain an already marketed hepatitis B vaccine and a shingles vaccine in development, further strengthening its position in the adult vaccine sector. This acquisition is expected to be completed in the first quarter of 2026.