02:23 PM EST, 12/26/2024 (MT Newswires) -- US benchmark equity indexes were little changed intraday as markets reopened after the Christmas holiday.

The Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite were almost flat at 43,303.1, 6,037.1 and 20,031.8, respectively, after midday Thursday. Among sectors, technology and real estate paced the gainers, while consumer discretionary saw the steepest decline.

US markets were closed Wednesday for Christmas.

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.

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

The US two-year yield was up one basis point at 4.34% intraday, while the 10-year rate was little changed at 4.58%.

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

Broadcom ( AVGO ) was the best performer on the Nasdaq and among the best on the S&P 500, up 2.4%.

Electric vehicle maker Tesla's (TSLA) shares were down 1.9%, the steepest decline on the S&P 500 and the second-worst on the Nasdaq.

West Texas Intermediate crude oil fell 0.5% to $69.82 a barrel.

Gold was up 0.7% at $2,653.60 per troy ounce, while silver added 0.2% to $30.36 per ounce.