The Major Markets felt the holiday spirit as all 6 indices closed higher. The S&P 500 rose 1.4%, leading the way for the domestic markets, while the Dow Jones gained 1.2%, reaching a new record close. The Nasdaq Composite also climbed 1.2%, though it still sits just below its all-time highs.

Trading volumes were lighter, as expected during Christmas week, but participation was broad. Ten of the eleven sectors finished higher, led by materials, technology, and financials.

Technology stocks were a key driver, supported by renewed strength in AI and semiconductors. Financials also advanced on strength in major banks, while materials surged as gold and silver set new record highs. Precious Metals have had a solid year as Gold is up 70% for the year while Silver has added an incredible 160%.

Economic data showed the U.S. economy running hot, with Q3 GDP coming in at 4.3%, well above expectations. That growth backdrop helped support risk assets, even as it stirred some discussion around inflation and future rate cuts.

Small-caps lagged but still finished positive, and despite the quiet holiday tape, the major averages remain near record levels heading into the final trading days of 2025.