Nasdaq Index and S&P500: US Stocks Slip Today as Traders Eye Fed Minutes and 2025 Outlook

U.S. Stock Markets Retreat as Investors Lock in 2025 Gains Ahead of Year-End

U.S. equity markets are under light selling pressure as we approach the mid-session on Monday. Without any major news events today, investors seem content with holding on to this year’s stellar gains into the new year. With the first day of trading for 2025 a Friday, we may not even see real trading volume return until next week.

Fed Minutes Release Tuesday: What Rate Cut Dissenters Could Reveal About Inflation vs. Jobs Debate

On Tuesday, traders will get the opportunity to react to the minutes from the Fed’s early December meeting. It will be their first time to actually see what the dissenters were thinking about the last interest rate cut. In my opinion, the key sticking points are inflation and unemployment. Will the Fed allow a little inflation if it leads to a better labor market, or is another rate cut warranted to boost the job market at the risk of higher inflation?

Dow, S&P 500, and Nasdaq Pull Back Slightly in Light Pre-Holiday Trading

At 16:47 GMT, the blue chip Dow Jones Industrial Average is trading 43,443.79, down 267.18 or -0.55%. The benchmark S&P 500 Index is at 6,897.65, down 32.29 or -0.47%, and the tech-heavy Nasdaq Composite is trading 23,439.034, down 154.063 or -0.65%.

Major Indices Post Double-Digit Gains for 2025: Nasdaq Leads with 21% Rally

For the year, the S&P 500 is up about 17%. The Dow is 14% better and the Nasdaq Composite is in a position to post a 21% gain.

One final thought on the broad-based indices: according to the Stock Traders Almanac, the S&P is in the midst of a Santa Claus rally. For 75 years, the benchmark has averaged a gain of more than 1% between the last five trading days of the year and the first two of the new year.

Materials Sector Leads Decliners as 7 of 11 S&P Sectors Trade Lower

The S&P sectors are putting in a mixed to lower performance on Monday with 7 out of 11 down. The worst performing sector is materials, down 0.99%. The best performing sector is utilities.

Energy Stocks Dominate Gainers While Newmont Tumbles Nearly 5%

S&P 500 stocks making the biggest up moves are Texas Pacific Land Corp (+2.156%), Expand Energy Corp. (+1.909%), and Diamondback Energy Inc (+1.876%). Newmont Corporation, down 4.96%, is the biggest loser.

Nasdaq stocks on the move higher include Verisk Analytics Inc. (+1.58%), T-Mobile (+1.29%), and Starbucks Corp. (+0.85%). The worst performers are Applovin Corp (-2.98%), Nvidia (-1.68%), and Shopify Inc (-1.65%).

GM Stock Surges 55% to Record Highs, Crushing Tesla and Ford in 2025 Performance

Stocks in the news include General Motors (GM) and UnitedHealth (UNH). General Motors (GM) is in the news because it has performed better than Tesla, Ford, and other automakers this year. GM stock is up more than 55% to a record of more than $80 per share. That puts it on pace to be the top U.S.-traded automaker stock of 2025.

UnitedHealth on Track to Be Worst Dow Stock of 2025 with 35% Loss

UnitedHealth Group is on pace to be the worst-performing stock in the Dow Jones Industrial Average this year. It is on pace to finish 2025 with a loss of about 35%.

S&P 500 Technical Outlook: Key Support Levels to Watch After Record-Breaking Year

Technically, the upside is unlimited for the S&P 500, but at the same time, the index is vulnerable to a near-term correction into a 50% level at 6,833.00 and the 50-day moving average at 6,795.50. But traders have adjusted to that pattern of corrections throughout the year. Back in April, after Trump announced his tariff plan, the S&P 500 fell below both the 50-day and 200-day moving averages, but once it recovered these levels in mid-May, it never looked back on its way to record highs.

More Information in our Economic Calendar.