04:02 PM EST, 12/26/2024 (MT Newswires) -- US benchmark equity indexes ended mostly higher Thursday as markets reopened after the Christmas holiday yesterday.

* The effect of a potential "Santa Rally" in the US stock market could reverse early next year amid the prospect of new trade policies or tariffs under the incoming Trump administration, Saxo Bank said. The S&P 500 has traded up 78% of the time during the Santa rally period since 1950, increasing 1.3% on average, the firm said.

* The so-called Santa rally refers to the tendency for stock markets to move higher during the last week of December and the first two trading days of January, according to Saxo Bank.

* US retail sales increased more than expected during the holiday season and came in above last year's growth pace, according to preliminary data from a Mastercard ( MA ) report.

"The holiday shopping season revealed a consumer who is willing and able to spend, but driven by a search for value as can be seen by concentrated e-commerce spending during the biggest promotional periods," Mastercard Economics Institute Chief Economist Michelle Meyer said. "Solid spending during this holiday season underscores the strength we observed from the consumer all year, supported by the healthy labor market and household wealth gains."

* Weekly applications for unemployment insurance in the US unexpectedly declined last week, while continuing claims rose to their highest level since November 2021, government data showed.

* February West Texas Intermediate crude oil closed down $0.58 to settle at $69.52 per barrel, while February Brent crude, the global benchmark, was last seen down $0.46 to $73.12.

* Starbucks ( SBUX ) employees returned to work Wednesday after a five-day strike in which Starbucks Workers United claimed baristas in 43 states walked off the job, closing hundreds of stores. The coffee chain's shares were up 2.3%.