Markets Flat as Holiday-Shortened Week Ends/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ U.S. stock markets opened flat Friday in subdued trading following the Christmas holiday. The S&P 500 hovered near record highs, while gold and silver prices continued to climb amid investor interest in safe-haven assets. Crude oil prices dipped, and many global markets remained closed for the holiday.
Markets Open Mixed as Investors Ease Into Post-Holiday Trading: Quick Looks
- S&P 500 slightly up; Nasdaq slightly down
- Dow Jones Industrial Average opened unchanged
- Trading volume light as year-end approaches
- S&P 500 up nearly 18% year-to-date
- Silver jumped 4.5% to $74.88 per ounce
- Gold rose 1.1% amid safe-haven demand
- Crude oil and Brent each down 1%
- Global markets mostly closed, including in Asia and Europe
- Fed interest rate cut expectations supporting gold prices
- Trump administration policies and AI optimism boosted 2025 market performance
Deep Look: U.S. Markets Open Flat in Quiet End to Holiday Week
NEW YORK — U.S. stock indexes were mostly unchanged in early Friday trading as investors returned from the Christmas holiday to a quiet, shortened trading week. With most large institutional players having closed out their positions for the year, market activity remained subdued.
At 10 a.m. Eastern, the S&P 500 was up by less than 0.1%, the Dow Jones Industrial Average was essentially flat, and the Nasdaq composite dipped slightly, down by less than 0.1%. Analysts expected low volume and limited movement throughout the day.
Despite the slow pace to end the week, the broader market has had a strong year. The S&P 500 has gained nearly 18% in 2025, fueled by a mix of investor enthusiasm for artificial intelligence technologies and deregulatory policies under the Trump administration, which many traders see as favorable to corporate growth.
Gold and Silver Climb on Safe-Haven Demand
While stocks were largely stagnant, precious metals continued their upward climb.
- Silver surged 4.5% to $74.88 per ounce, continuing a strong rally driven by supply constraints and growing demand.
- Gold rose 1.1%, with investors increasingly seeking safe-haven alternatives to stocks and bonds amid economic uncertainty and fluctuating interest rate expectations.
Earlier increases in gold prices this year were partly triggered by concerns over a potential U.S. government shutdown, and more recently by market anticipation that the Federal Reserve will lower interest rates in 2026. A potential cut in interest rates typically weakens the U.S. dollar, making gold more attractive to investors holding foreign currencies.
Oil Prices Slip in Early Trade
Oil markets, which had shown signs of recovery in recent months, also saw slight declines in early Friday trading:
- U.S. crude oil dropped by 1%
- Brent crude, the international benchmark, also declined by 1%
This pullback follows weeks of mixed signals in the energy sector, including fluctuating demand forecasts and geopolitical developments affecting global oil supply.
Global Markets Largely Closed
With many regions still observing extended holiday breaks, several global markets remained closed, contributing to the lower trading volume:
- Hong Kong, Australia, New Zealand, and Indonesia were all closed Friday
- Most European markets were also shuttered for the holiday
This limited global activity has left U.S. markets largely drifting, with few catalysts expected before the new year.
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