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
NEW YORK — December 25, 2025. Wall Street is closed for Christmas Day, but the story investors are taking into the holiday is anything but quiet: U.S. stocks left off at fresh records, the “Santa Claus rally” window has begun, and strategists are already sketching a 2026 roadmap built around three swing factors—artificial intelligence investment, corporate profit growth, and the Federal Reserve’s next moves on rates. New York Stock Exchange The timing matters. With trading paused, markets are in “reflection mode”—digesting where prices ended the final full session before year-end positioning accelerates and before the calendar flips into a U.S.