Global Stock Markets on Dec. 25, 2025: Thin Christmas Trading, Asia Mixed, Gulf Slips — and the 2026 Outlook Turns to AI and Rate Cuts
Global stock markets are spending Christmas Day in “low-liquidity mode,” with most major Western exchanges shut and investors leaning on the final full sessions of the year for direction. The tone is broadly constructive: U.S. equities headed into the holiday at fresh record closes, while parts of Asia traded mixed-to-firmer in thin volumes. Meanwhile, Gulf equities eased as softer oil prices pressured the region’s heavyweight energy-linked markets. Reuters With calendars thinned out and year-end positioning largely done, the conversation has shifted quickly from “what happened” in 2025 to “what could break” or “what could extend” the rally in 2026—especially around