Stock market today: Dow, S&P 500, Nasdaq futures steady as Wall Street flies high into Christmas holiday

US banal futures steadied connected Wednesday greeting aft the benchmark S&P 500 (^GSPC) deed its latest record, mounting up Wall Street to thrust into the Christmas vacation connected a precocious note.

Futures tied to the Dow Jones Industrial Average futures (YM=F), the S&P 500 (ES=F), and the tech-heavy Nasdaq (NQ=F) each hovered beneath the flatline.

Precious metals powered up connected Wednesday, with Gold (GC=F) rising to an all-time precocious supra $4,500 an ounce owed to escalating tensions successful Venezuela and expectations for much US complaint cuts. Silver (SI=F) and platinum (PL=F) besides precocious to records.

Markets adjacent aboriginal connected Wednesday for Christmas Eve and are disconnected Thursday for the holiday. Wall Street's bid for a "Santa Claus" rally is looking hopeful aft a 4th time of gains near the S&P 500 astatine its latest grounds high, supra 6,900.

The tech-led beforehand came contempt caller economical information that lone served to dampen bets for complaint cuts from the Federal Reserve successful the adjacent term. US GDP maturation stood astatine 4.3% successful the 3rd quarter, according to a archetypal estimation from the government, overmuch higher than forecast, arsenic user spending held up implicit the summer.

Economists pass that benignant of maturation apt won't proceed into the shutdown-filled 4th quarter. Indeed, much caller information recovered that consumers proceed to consciousness peculiarly sour connected the authorities of the US economy, with user assurance dipping to its lowest level since President Trump's tariffs rolled retired successful April.

The GDP information led investors to trim bets connected a January complaint chopped from the Fed — conscionable much than 13% present expect that outcome. Most traders, however, inactive expect 2 complaint cuts by the extremity of adjacent year, arsenic the divisions that defined the cardinal slope this twelvemonth are apt to persist adjacent with a caller seat acceptable to regenerate Jerome Powell by mid-year.

Trump took contented with the market's work connected the Fed, saying Tuesday helium expects the caller seat helium nominates to little rates adjacent erstwhile Wall Street is doing well.

"I privation to person a Market the likes of which we haven’t had successful galore decades," helium wrote connected societal media, "a Market that goes up connected bully news, and down connected atrocious news, the mode it should be, and the mode it was."

The lone imaginable portion of market-moving information connected Wednesday comes with the government's update connected play jobless claims, though that merchandise has travel with important volatility arsenic of late.

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