US Stock Market Today (Dec. 25, 2025): S&P 500 and Dow End Christmas Eve at Record Highs as 2026 Outlook Turns to AI, Earnings, and Fed Rate Cuts
U.S. stock markets are closed Dec. 25 for Christmas after the Dow, S&P 500, and Nasdaq all ended Wednesday at record highs. The S&P 500 is up over 17% for 2025, marking a third straight year of double-digit gains. Trading resumes Friday. The “Santa Claus rally” period began Wednesday and runs through Jan. 5.