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Market Recap
WEEK OF DEC. 22 THROUGH DEC. 26, 2025
The S&P 500 index rose 1.4% and hit fresh record highs last week amid a stronger-than-expected report on Q3 economic growth. The S&P 500 ended Friday's session at 6,929.94, just slightly below the record closing high it set on Wednesday before Christmas at 6,932.05. The market benchmark reached a fresh intraday high on Friday at 6,945.77.
The moves came in a shortened trading week as US stock markets closed several hours early on Wednesday for Christmas Eve and were closed all day on Thursday for Christmas Day.
With just three trading days remaining in the year, the S&P 500 is up 18% for 2025.
Delayed government data Tuesday showed the US economy grew at the fastest pace in two years in the third quarter amid robust consumer spending. Real gross domestic product rose at an annual rate of 4.3% in Q3, according to the initial estimate from the Bureau of Economic Analysis. The consensus was for 3.3% growth in a survey compiled by Bloomberg.
Still, a report from the Conference Board showed US consumer confidence fell for a fifth straight month in December as views on current business conditions turned negative for the first time since September 2024. The consumer confidence index dipped 3.8 points sequentially to 89.1 this month. The consensus was for a 91 print in a Bloomberg survey.
The materials sector had the largest percentage increase last week, climbing 2.4%, followed by a 1.8% rise in technology and a 1.7% advance in financials. All of the S&P 500's sectors rose on a weekly basis except consumer staples, which edged down 0.1%.
Freeport-McMoRan (FCX) was the best performer in the materials sector, jumping 7.9%. Wells Fargo raised its price target on the miner's stock to $55 per share from $47.
Micron Technology (MU) had the largest weekly percentage gain in the technology sector, climbing 7.1% as positive momentum continued following the company's report last week of stronger-than-expected fiscal Q1 results.
On the downside, shares of Brown-Forman (BF.A, BF.B) fell in the aftermath of Citigroup downgrading the stock last week to sell from neutral. The firm also cut its price target on the stock to $27 from $30. The company's Class B stock fell 8.1% on the week, marking the largest percentage drop in consumer staples.
Economic data will be lighter than usual this week as US stock trading will be closed on Thursday for New Year's Day.
November pending home sales will be released on Monday, followed by the S&P Case-Shiller home price index for October on Tuesday.
