On the final trading day of 2025, market activity was subdued, with exchanges in Japan, South Korea, and Germany closed, and those in France and the UK closing early. U.S. tech stocks were under pressure in pre-market trading, U.S. stock index futures collectively declined, and European stocks were mixed. U.S. Treasuries and the U.S. dollar were largely flat, spot silver fell nearly 6%, spot gold dropped 0.2% to $4,329 per ounce, and WTI crude oil rose 0.3% to $58.1 per barrel. On the last trading day of 2025, U.S. stock index futures collectively fell, with technology stocks under pressure ahead of the U.S. market open. Gold and silver moved lower, with silver plummeting nearly 6%. On December 31st, subdued trading activity prevailed due to holiday influences, while European stock indices showed a mixed performance. U.S. Treasuries and the dollar were largely unchanged, gold, silver, and oil collectively declined, while cryptocurrencies advanced. Major global exchanges either shortened their trading hours or were entirely closed for the final trading day of 2025, with markets in Japan, South Korea, and Germany shut, and those in France and the UK closing early. Commenting on the absence of the anticipated "Santa Claus rally," Markets Live macro strategist Brendan Fagan noted that as the year-end approaches, market dynamics are influenced more by divergence than direction, which has somewhat dampened risk appetite, although underlying resilience continues to provide broad support for U.S. equities. Key market movements were as follows: Dow futures fell 0.15%, S&P 500 futures dropped 0.26%, and Nasdaq futures declined nearly 0.4%. The UK's FTSE 100 index opened 0.1% higher, France's CAC 40 index rose 0.4%, and Spain's IBEX index fell 0.3%. The yield on the 10-year U.S. Treasury note decreased by 1 basis point to 4.11%. The U.S. dollar was largely flat, the euro fell 0.1% against the dollar to $1.1731, the yen fell 0.1% against the dollar to ¥156.58, the offshore yuan was largely flat against the dollar at 6.9858, and the pound fell 0.2% to $1.3436. Spot silver fell over 5.4% to $72 per ounce; spot gold declined 0.2% to $4,329 per ounce, and WTI crude oil rose 0.3% to $58.1 per barrel. Bitcoin rose 0.3% to $88,476.81, and the price of Ethereum increased 0.2% to $2,971.16. U.S. stock index futures collectively declined. Roberto Scholtes, Head of Strategy at Singular Bank, stated: Against the backdrop of excellent annual returns for equities and overall market positioning nearing cycle highs by the end of November, portfolio and fund managers may have begun profit-taking and position adjustments to align their portfolios more closely with benchmark index allocations. Spot silver fell over 5.4% to $72 per ounce. It had fallen nearly 7% intraday to below $71 per ounce. This occurred as silver prices experienced a 5% or greater movement for the fourth consecutive trading day. Risk Warning and Disclaimer: Markets are risky, and investments should be made with caution. This article does not constitute personal investment advice, nor does it consider the specific investment objectives, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular circumstances. Investment decisions based on this content are made at one's own risk.
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