The S&P 500 hit a new intraday high while gold and silver continue to soar, today, Dec. 26, 2025.
The S&P 500 (^GSPC 0.03%) slipped 0.03% to 6,929.94, the Nasdaq Composite (^IXIC 0.09%) eased 0.09% to 23,593.10, and the Dow Jones Industrial Average (DJINDEX: ^DJI) edged down 0.04% to 48,710.96, all cooling slightly after recent highs in thin post‑Christmas trade.
Market movers
Nvidia (NVDA +1.09%) ticked higher as investors reacted to its Christmas Eve deal to buy about $20 billion in assets from AI startup Groq. Gains in materials names such as Freeport‑McMoRan (FCX +2.16%)and Southern Copper (SCCO +0.94%)versus an almost 6% loss from Standard Lithium (SLI 5.80%) reflected sharp divergences tied to the powerful precious‑metals rally.
What this means for investors
While today’s final performance was muted, the S&P 500 set a new record in intraday trading as investors returned from the Christmas break. The index is up 2.3% for the week, and there’s debate about whether we’re about to see a final end-of-year rally or the start of a consolidation phase.
Nvidia continued to dominate the news today with more AI-driven gains. 2026 is already being framed as the year of AI, even as commentators warn that it will only take a small negative shock to disrupt momentum.
Gold and silver prices set new highs with spot gold nearing $4,550 an ounce and spot silver passing $77 an ounce. Ongoing geopolitical tensions have sparked investor interest in these store-of-value assets. The only question is how long both safe havens and equities will continue to rally.