The S&P 500 and Nasdaq both rally above half-percent gains!

• SPY moved up 3.54 points to reach $594.69, showing solid momentum with a 0.60% gain for the day on heavy volume of over 57.5 million shares

• QQQ performed even better, climbing 4.21 points to $522.87, leading the way with a 0.81% increase and trading volume of nearly 29.5 million shares

• The futures market, the E-mini S&P 500 (/ESH25) rose 34.25 points to 6036.00, posting a 0.57% gain, while the E-mini Nasdaq (/NQH25) jumped 170.75 points to 21737.25, showing strength with a 0.79% increase

Today’s range (the highest and lowest price traded during regular market hours), didn’t go above or below previous day’s range, (Friday, December 20th). Meaning, business as usual. Meaning, meaning, nothing significant happened today. Kind of like you just moving your mouse around at the office while your boss is out — killin’ time.

Economic overview

New home sales surprised with a jump (+5.9%), with 664K homes sold vs last month's 627K.

But people are buying less stuff overall (durable goods down 1.1%).

Consumer confidence dropped from 112.8 to 104.7 - basically, people are feeling less optimistic about the economy.

Interest rate update

The government's borrowing rate (2-year Treasury) ticked up slightly to 4.335%. This matters because it affects what you pay for loans, credit cards, etc.

The big picture

This is giving mixed signals - housing market's showing life despite high rates, but people are spending less on big purchases and feeling iffy about the economy. It's like the economy is sending us a "it's complicated" relationship status.

What this means for you

If you're house hunting, you're not alone - the market's surprisingly active. But maybe hold off on big purchases until consumer confidence bounces back. Also, keep an eye on those interest rates if you're planning to borrow money.