NEW YORK, December 29, 2025, 10:23 ET — Regular session
- Wall Street opens lower as megacap tech pulls back from last week’s highs
- DigitalBridge jumps on SoftBank’s $4 billion take-private deal
- Traders eye Fed minutes and jobless claims in a holiday-thinned week
U.S. stocks edged lower on Monday as heavyweight technology shares retreated, opening a holiday-shortened week with caution. At 9:35 a.m. ET, the Dow Jones Industrial Average (.DJI) fell 66.86 points, or 0.14%, to 48,645.62. The S&P 500 (.SPX) lost 22.08 points, or 0.32%, to 6,907.86 and the Nasdaq Composite (.IXIC) dropped 142.90 points, or 0.61%, to 23,450.20.
The move matters because it comes after a late-year rally that left the S&P 500 within about 1% of the 7,000 mark, a round-number level many traders watch for sentiment. The Dow hit a record closing high last week, raising the bar for year-end performance.
With U.S. markets closed on Thursday for New Year’s Day, investors are bracing for thin trading conditions that can amplify day-to-day swings. Many desks are focused on year-end positioning rather than fresh catalysts.
Some investors are still looking for a “Santa Claus rally,” the seasonal tendency for the S&P 500 to rise in the last five trading days of December and the first two of January. The early dip tests that pattern at the start of the week. Reuters
Technology led the decline. The S&P 500 information technology sector was down 0.7% in early trade, with Nvidia (NVDA.O) off 1.6%.
Tesla (TSLA.O) fell 2.2% after the electric-vehicle maker hit a record high last week. The pullback in large tech names weighed on the broader Nasdaq.
Energy stocks moved the other way. The sector rose about 0.7% as crude prices climbed, providing a bid under oil-linked shares.
Materials lagged as the precious-metals trade cooled. The sector slipped 0.7% after silver fell sharply following a brief run above $80 an ounce, while gold eased after back-to-back record highs last week, pressuring miners.
A standout gainer was DigitalBridge Group (DBRG.N), up 9.8% to $15.30 after SoftBank Group said it would buy the digital infrastructure investor in a deal valued at $4 billion. SoftBank is offering $16 a share in cash, a 15% premium to Friday’s close, and the companies expect to close the transaction in the second half of 2026.
DigitalBridge, which invests across data centers and related digital networks, managed about $108 billion in assets as of Sept. 30, Reuters reported. SoftBank said the acquisition expands its exposure to infrastructure tied to surging demand for computing power used by artificial intelligence applications.
Treasury yields eased alongside the equity dip. The 10-year yield slipped to about 4.12% in morning trading, according to the Associated Press.
Investors are also looking ahead to a sparse U.S. data calendar. Minutes from the Federal Reserve’s previous meeting and weekly jobless claims are among the few scheduled releases traders flagged in an otherwise quiet week.
“With this week’s light economic calendar,” equities “will likely need tech to do much of the heavy lifting,” said Chris Larkin, managing director of trading and investing at E*TRADE from Morgan Stanley. Reuters
Market breadth was weak early in the session. Decliners outnumbered advancers by a 1.22-to-1 ratio on the NYSE and by a 1.67-to-1 ratio on the Nasdaq, Reuters data showed.
Even with Monday’s pullback, the S&P 500 is up about 17% in 2025, and all three major U.S. indexes are set for double-digit annual gains. Traders are watching whether the benchmark can hold near the 7,000 level as the year closes and liquidity thins further.
