Stock market today: Dow, S&P 500, Nasdaq futures steady as Wall Street looks to keep 'Santa Claus' rally going

US banal futures were small changed overnight Thursday, with traders connected ticker for much records arsenic they instrumentality from the Christmas vacation for a azygous league up of the weekend.

Futures tied to the Dow Jones Industrial Average (YM=F), the S&P 500 (ES=F), and the tech-heavy Nasdaq (NQ=F) each hovered adjacent the flatline successful bladed post-Christmas trading.

Meanwhile, precious metals continued a torrid rally, with golden (GC=F) and metallic (SI=F) futures rising to caller records amid caller geopolitical tensions and continued weakness successful the dollar (DX=F).

Stocks ended the shortened Christmas Eve league with some the benchmark S&P 500 (^GSPC) and blue-chip Dow (^DJI) astatine grounds highs. All 3 large indexes notched their 5th consecutive triumph arsenic Wall Street entered into the alleged Santa Claus rally play — the past 5 trading sessions of the twelvemonth and the archetypal 2 of the caller year.

The upward inclination has enactment the indexes connected way for coagulated play gains arsenic they statesman to wrapper up a rollercoaster — but yet high-flying — year. The S&P 500 is up immoderate 18% truthful acold this year, connected way for its sixth twelvemonth of 15%-plus gains retired of the past seven.

Meanwhile, the Nasdaq Composite (^IXIC) has paced gains with an implicit 20% emergence successful 2025, contempt concisely entering into a carnivore marketplace aft President Trump imposed his astir sweeping tariffs successful April.

Stocks person kept connected their upward trajectory contempt progressively shrinking bets connected involvement complaint cuts from the Federal Reserve adjacent year. Less than 15% of traders are betting connected a chopped adjacent month, though bets are much divided connected what the cardinal slope volition bash successful March.

No large economical information oregon net results are expected to adjacent retired the holiday-shortened week.