26 December 2025–Today’s Market News—S&P 500 Near Record Highs 6,874.75 as Markets Trade Sideways
U.S. Equities Up 0.1–0.2% as Markets Remain Range-Bound
With several markets still on reduced hours, liquidity was thin, and price action muted. U.S. equities edged higher, led by large-cap technology, while defensive assets continued to see steady inflows. The S&P 500 rose about 0.2% and the Nasdaq gained roughly 0.1%, both holding near record levels. Precious metals outperformed, while the U.S. dollar softened slightly. USD/JPY remained near levels closely monitored by Japanese authorities.
Today’s Snapshot
- S&P 500: 6,874.75 (+0.59%)
- Nasdaq Composite: 23,439.28 (+0.57%)
- Nikkei 225: 50,454.92 (+1.91%)
- Gold: $4,500/oz (+1%)
- Silver: $71.80/oz (+3%)
Global Markets
Precious Metals
Gold: $4,540/oz (+0.9%) The metal moved higher as investors expected U.S. rate cuts in 2026 and stayed defensive in thin markets.
Silver: $72.60/oz (+1.1%) Rose again as buying momentum continued and investors remained focused on its industrial demand going into the new year.
U.S. Dollar & FX
Dollar Index (DXY): 97.8 (slightly weaker) The dollar edged slightly lower, which helped support commodity prices and emerging market assets.
USD/JPY: 155.8 (flat) The yen was stable, trading near levels where Japanese officials have said they do not want the currency to weaken too much.
Stock Market — What Happened Today
U.S. Equities
- S&P 500: 6,945 (+0.2%)
- Nasdaq Composite: 23,635 (+0.1%)
U.S. equities were little changed, with gains concentrated in mega-cap technology and AI-linked names.
Japan
- Nikkei 225: 50,280 (flat to slightly lower)
Japanese stocks were mostly unchanged, as a stable yen limited moves in exporter shares.
Europe
- STOXX Europe 600: 496 (+0.1%)
European markets were marginally higher, with most participants remaining sidelined ahead of the year-end close.
Volatility & Positioning
With the VIX around 13.8, volatility remained low, reflecting subdued risk pricing in thin year-end trading.
What Traders Are Watching
As markets transition back to full liquidity, investors will be watching for signs of portfolio rebalancing and volatility normalization. Key focus areas include follow-through in precious metals, positioning adjustments in FX, and whether equity leadership broadens beyond a narrow group of large-cap stocks.
Yesterday’s Market Recap – 25 December 2025
Markets rose in quiet holiday trading. U.S. equities were led by large-cap technology, while Japan’s Nikkei gained nearly 2%. Precious metals outperformed, with silver up about 3% and gold holding near record levels.
Catch up on: Silver Surges 3% While Equity Markets Pause for the Holidays
Note: Major global markets were closed on 25 December for the Christmas holiday. This recap reflects price action from the most recent full trading session on 24 December.
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