It's shaping up to be a much more merry Christmas for Wall Street this year.

The stock market saw a dramatic sell-off last Christmas Eve, with the Dow Jones Industrial Average falling 653 points. The S&P 500 briefly entered into a bear market — typically defined as a drop of more than 20% since recent highs — during the trading day on an intraday basis. Both indexes and the Nasdaq finished down more than 2% for the day.

The Dow and S&P 500 last year posted their worst December since 1931 and their biggest monthly loss since 2009. The turmoil was punctuated by the Federal Reserve's decision to raise interest rates that month and President Donald Trump's aggressive stance toward China in trade negotiations.

The markets snapped back quickly, however, and then kept climbing. The S&P 500 is now up 37% from the bottom of the sell-off.

All 11 main sectors of the S&P 500 are up at least 10% since their closing level last Christmas Eve. Information Technology leads the way, up nearly 58%.