U.S. stock futures were little changed overnight Thursday as traders awaited more records in a session heading into the weekend after the Christmas holiday.
Futures tied to the Dow Jones Industrial Average (YM=F), the S&P 500 (ES=F) and the tech-heavy Nasdaq (NQ=F) were all hovering near flat lines in light post-Christmas trading.
Stocks ended a shortened Christmas Eve session with the benchmark S&P 500 Index (^GSPC) and the blue-chip Dow Jones Index (^DJI) both hitting record highs. All three major stock indexes are on a five-game winning streak as Wall Street enters the so-called Santa Claus rally – the last five trading days of the year and the first two of the new year.
The upward trend puts the indexes on track for solid weekly gains as they begin to wrap up a rollercoaster but ultimately meteoric year. The S&P 500 is up about 18% so far this year and is on track to gain more than 15% for the sixth consecutive year in the past seven years.
Meanwhile, the Nasdaq Composite Index (^IXIC) is still up more than 20% in 2025, despite briefly entering a bear market after President Trump imposed the most sweeping tariffs in April.
Stocks remain on a positive trend despite declining bets that the Federal Reserve will cut interest rates next year. Less than 15% of traders are betting on a rate cut next month, but bets on central bank action in March are more dispersed.
No major economic data or earnings results are expected to end the holiday-shortened week.
coming soon
Stock market coverage for Friday, December 26, 2025.