On December 12, 2025, the S&P 500 Index is down 0.05%, the Dow Jones is up 0.43%, and the Nasdaq 100 is down 0.33%. December E-mini S&P futures fell 0.06% and Nasdaq futures dropped 0.26%. Energy producers rose with WTI crude oil up over 1% following President Trump’s announcement of an oil blockade on Venezuela, while homebuilding stocks declined, notably Lennar, which fell 3% after reporting weaker-than-expected Q4 EPS.
US MBA weekly mortgage applications fell 3.8%, with refinancing applications down 3.6%. The average 30-year fixed-rate mortgage increased to 6.38%. Economic reports due this week include a projected 225,000 initial unemployment claims and an expected 3.1% year-over-year increase in November CPI. The Federal Reserve is seen to have a 24% chance of cutting rates by 25 basis points at the next FOMC meeting on January 27-28.
Internationally, the Euro Stoxx 50 index is down 0.21% while China’s Shanghai Composite gained 1.19%. In Europe, German bond yields rebounded, while UK CPI softened to 3.2% year-over-year. The Eurozone saw labor costs ease to 3.3% y/y in Q3, reflecting the slowest increase in three years.
