04:36 PM EST, 12/26/2024 (MT Newswires) -- US benchmark equity indexes closed mixed Thursday after the Christmas holiday.

The Dow Jones Industrial Average rose 0.1% to 43,325.8, while the Nasdaq Composite fell 0.1% to 20,020.4. The S&P 500 was little changed at 6,037.6. US markets were closed Wednesday for Christmas. This week, the three indexes have gained.

The effect of the so-called Santa Claus rally in the US market may reverse early next year amid the prospect of new trade policies or tariffs under the 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 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.

Among sectors, financials and health care led the gainers Thursday, while consumer discretionary posted the steepest decline.

In economic news, US retail sales increased more than expected during the holiday season and topped 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," said Michelle Meyer, chief economist at the Mastercard Economics Institute. "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 the highest since November 2021, government data showed.

"There is likely still some overhanging impact from the seasonality issues surrounding Thanksgiving, especially in continuing claims," Jefferies said.

The US 10-year yield fell 1.2 basis points to 4.58%, while the two-year rate was little changed at 4.33%.

In company news, Starbucks ( SBUX ) employees returned to work Wednesday after a five-day strike. The Starbucks Workers United union said baristas in 43 states walked off the job, closing hundreds of stores. The coffee chain's shares rose 2.2%, among the top gainers on the Nasdaq.

Broadcom ( AVGO ) shares rose 2.4%, the biggest increase on the Nasdaq.

Electric vehicle maker Tesla's (TSLA) shares fell 1.8%, the second-steepest decline on the S&P and the Nasdaq.

Uniform supplier Cintas ( CTAS ) shares dropped 1.7%, among the biggest declines on the S&P and the Nasdaq.

West Texas Intermediate crude oil dropped 0.8% to $69.55 a barrel.

Gold rose 0.7% to $2,654.60 per troy ounce, while silver added 0.4% to $30.42 per ounce.