"The major indices all finished the session modestly lower on Friday, with the venerable S&P 500 taking early bows as it hit a fresh all-time high, joining the Dow Jones Industrial Average and the Nasdaq, which recently entered all-time high territory. With just two full trading days left in the year, you can expect some volatility this week as investors and traders make final portfolio adjustments to close out the year."
"The strong GDP data have challenged expectations for aggressive interest rate cuts next year, supporting a more hawkish stance among some Fed officials. Market pricing currently implies up to two rate cuts in 2026, while the median policymaker projection points to only one. Goldman Sachs said in the fall that it expects two more 25-basis-point reductions in 2026. The 30-year long bond closed Friday at 4.82% while the benchmark 10-year note was last seen at 4.13%."
Futures opened lower entering the final trading week of 2025, with major indices modestly down after some hit intraday all-time highs. Traders face likely volatility with two full trading days remaining as investors make year-end portfolio moves. The Dow closed near 48,710, the S&P 500 backed off an intra-day high to close around 6,929, and the Nasdaq ended lower. Treasury yields were flat to moderately lower as strong GDP data tempered expectations for aggressive rate cuts, with market pricing implying up to two cuts in 2026 and Goldman Sachs forecasting two 25-basis-point reductions. Brent and WTI fell about 2.2%, while natural gas jumped roughly 3.5%.
Read at 24/7 Wall St.
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