The stock market finally snapped its end-of-year skid amid a broad rally from the major indexes. The S&P 500 on Friday rose 1.3%, while the Nasdaq Composite gained 1.8%. The Dow rose 340 points, or 0.

U.S. stocks were on track to climb on Friday, with the S&P 500 and Nasdaq Composite poised to snap their longest losing streaks since April 19, according to Dow Jones Market Data. Both indexes had fallen for a fifth straight day through Thursday.

US stocks jumped on Friday, ending a five-day losing streak for the S&P 500, Dow Jones, and Nasdaq 100. Risk-on stocks in the consumer discretionary and technology sectors led the market higher. Stocks hit session highs around the same time Congressman Mike Johnson was reelected to Speaker of the House,

Contracts tied to the S&P 500 were up 0.3%. The benchmark index has fallen for five straight days–its longest losing streak since April. Futures tracking the tech-heavy Nasdaq 100 added 0.5%, while Dow Jones Industrial Average futures climbed 95 points, or 0.2%.

The S&P 500’s gains were accelerating Friday afternoon, but the index’s sharp rebound still wasn’t large enough to bring about the traditional turn-of-the-year "Santa Claus rally." The Santa Claus rally period spans seven trading days ending with the close of the second stock-market session of the new year — and historically,