NEW YORK (AP) — U.S. stock markets closed slightly lower on Friday in a subdued session as investors returned from the Christmas holiday.
The Stocks&P 500 dipped 2.11 points, or less than 0.1%, ending at 6,929.94. The Dow Jones Industrial Average fell 20.19 points, also less than 0.1%, to 48,710.97, while the Nasdaq Composite slipped 20.21 points, or 0.1%, to 23,593.10.
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Light Trading Ahead of Year-End
Trading volume was unusually light, with activity on the New York Stock Exchange roughly half of an average day. Institutional investors have largely closed out their positions for the year, contributing to the calm market conditions.
With just three trading days remaining in 2025, the S&P 500 has gained nearly 18% this year, buoyed by deregulatory policies and investor optimism surrounding the growth of artificial intelligence.
Precious Metals Continue to Rally
Gold and silver extended their gains on Friday. Silver rose nearly 8% to $77.20 an ounce, while gold climbed 1.1%. Both metals have attracted investors seeking safe havens outside of stocks and bonds, with silver also benefiting from supply constraints.
Mining stocks followed suit, with Freeport-McMoRan gaining 2.2%. Earlier spikes in gold prices reflected concerns during the U.S. government shutdown and expectations that the Federal Reserve may lower interest rates in the new year, which could weaken the dollar and further support precious metal buying.
Corporate and Commodity Moves
Retail giant Target saw shares rise 3.1% after reports from The Financial Times indicated that an activist investor had taken a stake in the company.
In energy markets, U.S. crude oil fell 2.8%, while Brent crude declined 2.6%.
Meanwhile, Treasury yields remained relatively steady. The 10-year Treasury note yield edged down to 4.13%.
Global Market Activity
International markets were quiet, with exchanges in Hong Kong, Australia, New Zealand, and Indonesia closed. Most European markets also remained closed on Friday.
Frequently Asked Questions
What factors contributed to the S&P 500’s gains in 2025?
The S&P 500 has risen nearly 18% this year, supported by deregulatory policies and investor optimism surrounding artificial intelligence and technological innovation.
Why are gold and silver prices rising?
Investors are seeking safe-haven assets outside of stocks and bonds. Silver’s gains are also influenced by supply constraints. Expectations of potential Federal Reserve rate cuts and a weaker U.S. dollar have further fueled demand for precious metals.
Which notable companies had stock movements?
Target shares increased 3.1% after news that an activist investor acquired a stake in the retail company.
How did energy markets perform?
U.S. crude oil fell 2.8%, and Brent crude dropped 2.6% amid lighter market activity.
What happened with U.S. Treasury yields?
Treasury yields were relatively stable. The 10-year Treasury note yield edged down slightly to 4.13%.
How were global markets affected?
Markets in Hong Kong, Australia, New Zealand, and Indonesia were closed. Most European markets also remained closed for the holiday period, contributing to reduced global trading activity.
Conclusion
Friday’s session reflected a calm, post-holiday market as investors returned from the Christmas break, with major indices showing only modest declines. Light trading volumes and year-end positioning contributed to the subdued activity.
