US stocks trade near record levels in mixed post-Christmas sessions as Treasury yields ease and precious metals set new highs. At 10 a.m. in New York, the S&P 500 and NASDAQ 100 stayed flat, while the Russell 2000 fell 0.5%. NVIDIA gained 1.5%, and Freeport-McMoRan rose 1.7% as commodity-linked shares outperformed in early trading. The S&P 500 gained nearly 18% this year through December 24, and strategists expect upside in 2026.

S&P 500 Steadies Near Record Highs

Wall Street opened Friday with modest gains, led by technology and commodities. The S&P 500 and the NASDAQ 100 rose about 0.2% around 9:40 a.m., while the Dow Jones hovered near flat. Consumer staples and utilities lagged.

With four sessions remaining in 2025, seasonality remained a focus. The "Santa Claus Rally" period, which ran from late December to early January, was monitored by traders. While scrutiny of AI spending remained high, market technicians pointed to improving breadth and lowering inflation.

Treasury Yields Slip as Markets Await Catalysts

Bond trading remained subdued, with the 10-year Treasury yield slipping one basis point at 4.12%. The two-year yield fell two basis points to 3.48%, while the 30-year held near 4.79%. Germany’s 10-year yield stayed near 2.86%, and Britain’s 10-year hovered around 4.51%.

Meanwhile, currency trading stayed muted. The Bloomberg Dollar Spot Index stayed little changed, with the euro near $1.1784 and sterling around $1.3516. The Japanese yen weakened about 0.4% to roughly 156.45 per dollar amid limited data releases.

Gold Records and Oil Headlines Drive Commodities

Precious metals extended their year-end rally as investors favored traditional havens amid geopolitical tensions. Spot gold rose about 1% and traded above $4,520 an ounce after hitting a record earlier in the session. Silver and platinum also climbed, lifting miners.

Oil prices moved lower on the day, even as traders weighed supply risks into the weekend. West Texas Intermediate crude fell 0.8% to about $57.91 a barrel. Markets followed reports of a partial US blockade affecting Venezuelan crude shipments and news of a US strike in Nigeria.

Corporate Highlights and Notable Movers

NVIDIA led large-cap gainers after analysts reacted positively to its reported licensing arrangement with AI startup Groq. The materials sector also found support from the metals rally. In crypto markets, Bitcoin slipped 0.6% to about $87,349, while Ether fell 1% to roughly $2,915.

Severe winter weather disrupted travel across the US Northeast, including New York-area airports. Forecasters called for several inches of snow through early Saturday. In Asia, Tokyo’s Nikkei rose about 0.7% after Japan backed a record defense budget, while some markets stayed closed.

Corporate Moves on Markets:

• NVIDIA rose as traders assessed the Groq licensing deal.

• Freeport-McMoRan advanced as gold prices reached records.

• Coeur Mining gained with stronger precious-metal prices.

• Coupang jumped after reports tied a data case to a former employee.

• Biohaven fell after BHV-7000 missed a mid-stage trial endpoint.

• China Vanke gained room after investors extended a note grace period.

• Tata Steel’s Netherlands units faced a €1.4 billion compensation claim.

• Coforge agreed to buy Encora in an all-stock deal valued at $2.35 billion.

• Encora gained focus as Coforge sought AI and product engineering capacity.

• Groq drew attention as Nvidia’s counterparty in the reported arrangement.

• Bespoke Investment Group flagged December 26 as an active seasonal session.

US markets remained steady in thin holiday trading, with equities holding near record levels as easing Treasury yields and a surge in gold kept investor attention on safe havens. With year-end approaching, seasonal trends and commodity moves continue to share market sentiment.

Also Read: US Stock Market Today: Equities Hover Near Records as Solid Economic Data Reshapes 2026 Rate Outlook