Stock futures are slightly lower Friday as the Santa Clause rally that kicked off earlier in the week loses steam.

Some of the biggest winners were mega-cap tech stocks, with Tesla up by 6% while Broadcom, Netflix, and Amazon each gained about 2%.

The Dow Jones Industrial Average went up 66.69 points or 0.2% to end at 42,906.95 for its third straight daily gain, according to Dow Jones Market Data. The S&P 500 went up 43.22 points or 0.7% to finish at 5,974.07.

According to the latest Labor Department data, weekly jobless claims fell to 219,000 compared with expectations of 223,000. However continuing claims pointed to a cooling labor market, jumping by 46,000 in the week ending Dec. 14 to 1.91 million, the highest level since November 2021.

Tuesday kicks off a historically merry period for investors, a stretch known familiarly as the Santa Claus rally for the positive stock market returns typically enjoyed during the holiday season, potentially bringing further gains to a largely cheery 2024 for equities.

Kaltbaum Capital Management's Gary Kaltbaum and Scarlet Oak Financial's Frances Newton Stacy give their economic outlook heading into 2025 on 'Your World.'