Stocks ended last week mostly flat, with the S&P 500 index finishing up 0.1%. Equities struggled early in the week as the Bureau of Labor Statistics reported on Tuesday that the unemployment rate rose to 4.6% in November, the highest level since September 2021. But a benign inflation report from the BLS on Thursday sparked a two-day rally, recouping losses.
There are only seven trading days left in 2025, and there will be no tier-one economic data releases nor any major companies reporting earnings.
In this holiday-shortened trading week, Tuesday will bring third-quarter gross domestic product growth estimates from the Bureau of Economic Analysis and the durable goods report from the Census Bureau.
Monday 12/22
The Federal Reserve Bank of Chicago releases its National Activity Index for November. The index gauges U.S. economic activity, with readings of more than zero indicating growth above historical averages, and negative readings indicating below-average growth. The last reading was for August, since the index incorporates a range of data from the federal government that wasn't available during the government shutdown. At that time, the reading was -0.12.
Tuesday 12/23
The BEA releases its initial estimate of third-quarter gross-domestic-product growth. Consensus estimate is for GDP to have grown at an annual rate of 3.2%, down from 3.8% in the second quarter.
The Census Bureau releases the durable goods report for October. New orders for manufactured durable goods are expected to decline by 1.5% month over month to $313 billion. Excluding transportation, new orders are seen rising by 0.3%, compared with a 0.6% increase in September.
The Conference Board releases its Consumer Confidence Index for December. Economists forecast a 91.7 reading, three points more than in November. Consumers continue to have a dour economic outlook, with November's reading the second lowest since the onset of the Covid-19 pandemic, after April's tariff-induced shock.
Wednesday 12/24
The Nasdaq Stock Market and New York Stock Exchange end regular trading early on Christmas Eve, at 1 p.m. Eastern time.
Thursday 12/25
Equity and fixed-income markets are closed in observance of Christmas.
Friday 12/26
Equity and fixed-income markets reopen for normal trading hours.
