Wall Street's main indexes all closed higher on Tuesday, with gains in megacap and growth stocks bolstering benchmarks in a truncated Christmas Eve session.

Both the Dow Jones Industrial Average and Nasdaq Composite scored four straight sessions of gains, with the S&P 500 taking its winning streak to three sessions, marking the first day of the seasonal Santa Claus rally.

All the so-called Magnificent Seven megacap technology stocks climbed on Tuesday, led by the 7.4 percent jump in Tesla shares.

Elsewhere, chip manufacturers were also buoyant. Broadcom and Nvidia rose 3.2 percent and 0.4 percent, respectively.

The S&P 500 climbed 65 points, or 1.1 percent, while the Nasdaq Composite advanced 266 points, or 1.4 percent.

The Dow Jones Industrial Average rose 390 points, or 0.9 percent, to 43,297.

Stock markets in the US will be closed for Christmas on Wednesday.

American Airlines' shares edged up 0.6 percent after trading lower for much of the session. The carrier briefly grounded all its flights in the US on Tuesday due to an unspecified technical issue. (Reuters)