On December 23, 2025, the S&P 500 Index rose by 0.23%, while the Dow Jones Industrials Index increased by 0.12%, and the Nasdaq 100 Index gained 0.18%. This market movement followed a stronger-than-expected U.S. Q3 GDP report, which showed a 4.3% increase, exceeding the anticipated 3.3%. However, other economic indicators fell short, with the odds of a Federal Reserve rate cut on January 27-28 decreasing to 13% from 20%.
Key economic data included a 3.8% rise in the Q3 GDP Price Index, surpassing expectations of 2.7%, while the Conference Board’s December consumer confidence index dropped by 3.8 points to 89.1, below the forecast of 91.0. Additionally, October durable goods orders fell by 2.2% month-over-month, worse than the expected 1.5% decline, and November industrial production decreased by 0.1%, also below market expectations of a 0.1% increase.
Internationally, stock markets trended upward, with the Euro Stoxx 50 up 0.07% and China’s Shanghai Composite gaining 0.07% to close its fifth consecutive day of increases. Interest rates for March 10-year T-notes rose slightly to 4.171%, influenced by the strong Q3 GDP report, despite most other economic data being weaker.
