U.S. stock markets are poised for a quiet, holiday-shortened trading session today, Wednesday, December 24, 2025, as investors prepare for the Christmas holiday. Major indexes closed higher on Tuesday, extending a four-day winning streak, with the S&P 500 reaching another all-time closing high. However, premarket activity suggests a muted start, with futures largely flat amidst anticipated thin trading volumes.
Premarket Trading Activity and Futures Movements
As Wall Street gears up for an early 1:00 p.m. ET close today for Christmas Eve, U.S. stock index futures are showing little directional conviction. S&P 500 futures, Dow Jones Industrial Average futures, and Nasdaq 100 futures were all largely unchanged in early trading. This cautious sentiment follows a robust performance on Tuesday, driven by a stronger-than-expected third-quarter GDP report.
Treasury yields saw a slight dip in premarket trading, with the benchmark U.S. 10-year Treasury yield (US10Y) falling to 4.16%. The shorter-end U.S. 2-year Treasury yield (US2Y) eased to 3.53%, and the U.S. 30-year Treasury yield (US30Y) declined to 4.82%. In the commodities market, crude oil prices edged higher, with Brent crude rising 0.4% to $62.14 a barrel and WTI crude gaining 0.6% to $58.71 a barrel. Notably, gold and silver futures continued their impressive rally, setting new all-time highs for the third consecutive day. Gold climbed to $4,555 an ounce, while silver reached $72.75 an ounce.
Current Market Indexes Performance and Trends
Wall Street extended its winning streak to a fourth consecutive day on Tuesday, largely fueled by the persistent momentum in artificial intelligence (AI) related stocks. The S&P 500 (SPX) gained 0.4% to close at 6,909.79, marking a fresh all-time closing high. The tech-heavy Nasdaq Composite (COMP) also performed strongly, rising 0.6% to finish at 23,561.84. The Dow Jones Industrial Average (DJIA) advanced 0.2%, closing at 48,442.41.
The market's resilience, even after a turbulent 2025, is underscored by the S&P 500 notching its 38th record close of the year. This positive trend is further bolstered by the traditional "Santa Claus Rally," a seasonal phenomenon where stocks tend to rise during the last five trading days of the year and the first two of the new year. This period officially begins today.
Upcoming Market Events
Today's trading session will be abbreviated, with the New York Stock Exchange and Nasdaq closing at 1:00 p.m. ET, and bond markets shutting down at 2:00 p.m. ET. Markets will remain fully closed on Thursday, December 25, for Christmas Day, resuming normal operations on Friday, December 26.
In terms of economic data, investors will be monitoring the weekly initial jobless claims, which are due this morning. No major earnings reports are scheduled for today, allowing for a quieter end to the trading week for many.
Recent Federal Reserve activity has also been in focus. The Fed recently adopted a new 2025 Policy Statement on Permissible Novel Activities for State Member Banks, aiming to foster innovation by removing a previous presumption against novel activities and instead treating them as a risk-management question. Furthermore, the Federal Open Market Committee (FOMC) at its December 2025 meeting eliminated the aggregate $500 billion daily limit on Standing Repo Operations (SRP), a move to support monetary policy implementation. The Fed also issued a "hawkish" rate reduction in December 2025, lowering the federal funds rate to a range of 3.5% to 3.75%, alongside a simultaneous balance sheet expansion.
Major Stock News and Developments
The artificial intelligence (AI) trade continues to be a dominant theme, with major technology companies, including the "magnificent 7" stocks, planning substantial capital expenditures for AI infrastructure development in both 2025 and 2026.
Several companies are making headlines today:
- Dynavax Technologies (DVAX) soared an impressive 38% in premarket trading following the announcement that Sanofi (SNY) is acquiring the vaccine maker in a deal valued at $2.2 billion.
- UiPath (PATH) climbed 6% in premarket after S&P Dow Jones Indices announced the automation software company will join the S&P MidCap 400, effective January 2, 2026.
- Nike (NKE) shares rose 2% in premarket trading, drawing investor attention after a regulatory filing revealed significant insider buying, including a nearly $3 million stock purchase by Apple CEO and Nike's lead independent director, Tim Cook.
- Marvell Technology Inc. (MRVL), an AI semiconductor giant, was a notable gainer on Tuesday, rising 3.4%.
- Other tech giants contributing to Tuesday's gains included Nvidia (NVDA), which rose 3%, pacing the Dow, along with Broadcom (AVGO), gaining 2.3%, and Amazon (AMZN), adding 1.6%. Alphabet (GOOGL) was also among the big tech names leading the charge.
- Conversely, Intel (INTC) was among the premarket decliners, down 3.60%.
- Novo Nordisk A/S (NVO) saw its shares climb 7.3% after the U.S. FDA approved its GLP-1 pill for the treatment of overweight or obesity.
- ServiceNow Inc. (NOW) shares fell 1.5% following the company's decision to acquire cybersecurity startup Armis for $7.75 billion in cash.
- ZIM Integrated Shipping Services Ltd. (ZIM) surged 5.8% amid news that its board is evaluating several potential acquisitions.
- Huntington Ingalls Industries Inc. (HII) saw its shares rise 0.3% following the U.S. government's plan for a new "Trump class" of battleships.
- Tesla (TSLA) slipped 0.7% to USD 485 after briefly touching a record high near USD 500.
With the holiday season in full swing, trading volumes are expected to be lower than usual, which can sometimes lead to amplified price swings on even modest news. Investors will be looking towards the new year for continued economic cues and corporate developments.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.