Equities are concluding a favorable year with a downturn. Following a third consecutive session of declines in major equity indexes, stock futures indicate a downward trajectory on Wednesday, as the market approaches the final trading day of 2025. The stock markets will adhere to their regular operating hours, concluding at 4 p.m. today, whereas the bond markets will cease operations earlier, at 2 p.m., in observance of New Year’s Eve. Futures for the Nasdaq 100, S&P 500, and Dow Jones Industrial Average experienced declines of 0.2%, 0.1%, and 0.1%, respectively. Yesterday, the indexes concluded the trading day with modest declines for the third consecutive session, following a five-session rally that extended through Christmas Eve, during which the Dow and S&P 500 achieved record closing highs.

Nevertheless, the Nasdaq, S&P 500, and Dow Jones Industrial Average commenced the concluding trading day of 2025 with respective gains of 21%, 17%, and 14% for the year. The indexes’ gains have been driven by significant advances from various technology firms, including Micron Technology, which has surged 248% in 2025 entering Wednesday; Palantir, with a rise of 139%; Advanced Micro Devices, up 78%; Alphabet, increasing by 66%; and Nvidia, the world’s most valuable public company, which has seen a 40% increase. Investors are anticipating the release of the weekly jobless claims report, scheduled for 8:30 a.m. Wednesday, as a crucial data point while the Federal Reserve closely monitors employment trends in its deliberations regarding future interest rate adjustments.

Silver futures experienced a decline exceeding 8%, settling at $71.15 per ounce, while gold futures fell by 1.5% to $4,320 per ounce on Wednesday. This downturn followed the CME Group’s decision to increase margin requirements for precious metals for the second time in under a week, amidst a backdrop of volatile trading conditions. The 10-year Treasury yield, a key determinant of interest rates across various commercial and consumer loans, decreased to 4.11% from Tuesday’s closing figure of approximately 4.13%.

Bitcoin was trading at 88,900, up from overnight lows of about 87,800. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, remained relatively stable at 98.22. West Texas Intermediate futures, the U.S. crude oil benchmark, increased by 0.5% to $58.25 per barrel.