US Stock Market Today: S&P 500 Futures Rise as Soft-Landing, Rate-Cut Hopes Build

The Morning Bull - US Market Morning Update Thursday, Dec, 25 2025

US stock futures are pointing higher this morning, with contracts tied to the S and P 500 up about 0.3 percent, as investors weigh strong economic data against easing borrowing costs. Weekly jobless claims dropped to 214,000, the lowest since January, which means layoffs remain rare and the job market is still holding up. At the same time, the 10 year Treasury yield has slipped toward 4.16 percent and 30 year mortgage rates have fallen to just above 6 percent, hinting at cheaper money ahead. The key issue now is whether this mix of solid growth and lower rates is a sweet spot for growth stocks and real estate, or a sign that rate cuts could be slower than markets hope.

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Top Movers

• NIKE (NKE) climbed 4.64 percent after upbeat commentary from Apple CEO Tim Cook on the brand.
• Micron Technology (MU) rose 3.77 percent as investors rotated back into leading semiconductor names ahead of earnings.
• Target (TGT) advanced 2.36 percent, extending its holiday season strength as consumer spending trends remain resilient.

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Top Losers

• AST SpaceMobile (ASTS) slipped 8.89 percent as traders took profits after a sharp recent rally.
• Datadog (DDOG) declined 2.26 percent amid ongoing rotation away from high growth software names.
• Expand Energy (EXE) fell 1.80 percent on light volume, extending its recent consolidation phase.

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On The Radar

With earnings quiet, the next few sessions center on deciphering the growth and rate outlook from fresh US data.

• US Labor & Growth: Strong Q3 GDP at 4.3 percent keeps debate alive on how soon the Fed can safely cut.
• Housing & Rates: Cooling mortgage applications alongside 6.3 percent 30 year rates test how quickly housing demand can rebound.
• Manufacturing Pulse: Mixed Richmond Fed and flat factory output highlight whether industrials can justify recent multiple expansion.
• Energy & Inflation: A surprise API crude build challenges the recent oil rebound, easing pressure on headline inflation.
• Global Central Banks: BoJ summary of opinions on Sunday could shift yen, with potential ripple effects on US multinationals and carry trades.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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