2025-12-26 23:10
Target climbs after report activist investor builds stake Nvidia rises after licensing deal with Groq and hiring its CEO Three main indexes set for double-digit annual gains Indexes down: Dow 0.04%, S&P 500 0.03%, Nasdaq 0.09% NEW YORK, Dec 26 (Reuters) - Wall Street ended a light-volume post-Christmas session nearly unchanged on Friday, with few catalysts to fuel much conviction one way or the other. All three major U.S. stock indexes closed nominally lower, snapping a five-session rally, but logged weekly gains. Sign up here. "We had a very strong five-day rally, so in a way we're just simply catching our breath today after the holiday," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "This is only day two of the official Santa Claus rally period, so we still have some time, and we think there's going to be a little more upward bias going forward." Market participants watched for signs that a seasonal phenomenon called the "Santa Claus rally," in which the S&P 500 advances through the last five trading days of the current year and the first two in the new one, a period that began on Wednesday and will run through January 5. Such a rally would bode well for stock performance in 2026. Just three trading days remain in a turbulent year in which tariff jitters, simmering geopolitical tensions, and the rapid growth of artificial intelligence-related momentum stocks took investors on a bumpy ride, but one in which the three major indexes, led by the tech-laden Nasdaq, are all on track to register double-digit percentage gains. "It's a good reminder for investors that volatility is the toll we pay to get the solid gains we've seen in the last three years," Detrick added. "Odds are, 2026 is not going to be the first year in history with no volatility and no bad headlines. So you prepare yourself." The Dow Jones Industrial Average (.DJI) , opens new tab fell 20.19 points, or 0.04%, to 48,710.97, the S&P 500 (.SPX) , opens new tab lost 2.11 points, or 0.03%, to 6,929.94 and the Nasdaq Composite (.IXIC) , opens new tab lost 20.21 points, or 0.09%, to 23,593.10. Of the 11 major sectors of the S&P 500, materials (.SPLRCM) , opens new tab enjoyed the largest percentage gain, while consumer discretionary (.SPLRCD) , opens new tab was the biggest laggard. Year-to-date, communication services (.SPLRCL) , opens new tab, technology (.SPLRCT) , opens new tab and industrials (.SPLRCI) , opens new tab have outperformed the broader market. Real estate (.SPLRCR) , opens new tab seems to be the only sector that will have lost ground in 2025. Nvidia (NVDA.O) , opens new tab climbed 1.0% after the AI chipmaker agreed to license chip technology from startup Groq and hire its CEO. Target (TGT.N) , opens new tab rose 3.1% after the Financial Times reported the retailer is facing activism from hedge fund Toms Capital Investment Management, which has made a significant investment in the company. U.S.-listed shares of precious metal miners such as First Majestic , Coeur Mining (CDE.N) , opens new tab and Endeavour Silver rose between 1.2% and 3.0%, as silver and gold prices touched fresh record highs. Advancing issues outnumbered decliners by a 1.13-to-1 ratio on the NYSE. There were 342 new highs and 66 new lows on the NYSE. On the Nasdaq, 1,968 stocks rose and 2,605 fell as declining issues outnumbered advancers by a 1.32-to-1 ratio. The S&P 500 posted 20 new 52-week highs and no new lows while the Nasdaq Composite recorded 46 new highs and 166 new lows. Volume on U.S. exchanges was 10.22 billion shares, compared with the 15.98 billion average for the full session over the last 20 trading days. https://www.reuters.com/world/africa/futures-subdued-thin-post-christmas-trading-2025-12-26/
2025-12-26 21:27
SAO PAULO, Dec 26 (Reuters) - The Japanese government will conduct an audit to assess Brazil's beef sanitary system in March 2026, as part of the process to open its market to Brazilian products, Brazil's Agriculture Ministry said on Friday. Brazil, the world's largest beef exporter, has been trying for decades to enter Japan's high-value market. Sign up here. Earlier this year, negotiations gained some momentum following a visit from Brazilian President Luiz Inacio Lula da Silva to Japan. Brazilian newspaper Valor Economico reported on Friday that Japan will initially focus on the three Brazilian southern states - Rio Grande do Sul, Santa Catarina and Parana - for sanitary reasons. Reuters reported in August that an expected focus on the region, which represents less than 4% of Brazil's exports by volume, has worried meatpackers in the big beef-producing states of Sao Paulo, Mato Grosso, Mato Grosso do Sul, and Para. The southern states were declared free of foot-and-mouth, a contagious viral disease in cattle, before other states, although Brazil acquired in May the national status of being free of the disease without vaccination from the World Organization for Animal Health. Brazil's last outbreak of the disease was in 2006, according to the government. Foot-and-mouth disease poses no risk to human health but reduces herd productivity, which explains the sanitary concerns. https://www.reuters.com/world/asia-pacific/japan-schedules-sanitary-audit-brazilian-beef-march-2026-brazil-says-2025-12-26/
2025-12-26 21:03
Dec 26 (Reuters) - Silver rose 9% to hit a record high on Friday, bolstered by multiple factors including a market deficit and increasing industrial demand. The white metal was at a record high of $78.53 an ounce. Other precious metals also gained on Friday, with spot gold at an all-time-high of $4,549.71/oz and platinum at a record high of $2,454.12/oz after a 10% climb. Sign up here. Spot palladium registered a more than 14% gain on Friday, and was last at $1,924.03/oz. https://www.reuters.com/world/india/silver-rises-9-hit-fresh-record-high-2025-12-26/
2025-12-26 20:52
Dec 26 (Reuters) - Airlines in the United States have canceled or delayed thousands of flights on Friday, according to flight tracking website FlightAware, due to winter storm Devin during peak holiday travel, while some states restricted commercial road traffic in anticipation of snowfall. A total of 1,802 flights were canceled and 22,349 delayed as of 4:04 p.m. ET, the website said. Sign up here. The National Weather Service issued warnings of winter storm Devin this afternoon which "will cause hazardous travel conditions for the Great Lakes into the northern Mid-Atlantic and southern New England today through Saturday morning." "For areas farther north from upstate New York to the Tri-State area including New York City and Long Island, 4-8 inches of snowfall is forecast for late Friday into (the) night," National Weather Service's Storm Prediction Center noted on the official website. New York's John F. Kennedy Airport, Newark Liberty International Airport and LaGuardia Airport have put out posts on X, warning travelers of potential delays or cancellations. More than half of the flight cancellations and delays took place at these three airports, according to FlightAware. JetBlue Airways (JBLU.O) , opens new tab has canceled 225 flights, the most among the carriers, closely followed by Delta Air Lines (DAL.N) , opens new tab canceling 212 flights. Republic Airways (RJET.O) , opens new tab canceled 157 flights, while 146 were canceled by American Airlines (AAL.O) , opens new tab and 97 by United Airlines (UAL.O) , opens new tab. Spokespersons from American Airlines, United Airlines and JetBlue told Reuters the carriers have waived off change fees for re-booking for travelers whose plans may be affected. "Due to winter storm Devin, JetBlue has canceled approximately 350 flights today and tomorrow, primarily in the Northeast where JetBlue has a large operation," the JetBlue spokesperson said. Delta Air Lines and Republic did not immediately respond to Reuters requests for comment. Ahead of the winter storm, New York and New Jersey declared a state of emergency from Friday afternoon. "As widespread snowfall is expected to start in New York City and its surrounding areas this evening, I will declare a State of Emergency to ensure that our agencies and local partners have the resources and tools they need to respond to the storm," New York Governor Kathy Hochul said. New Jersey and Pennsylvania issued commercial vehicle restrictions on some roads, including many interstate highways. "This storm will cause dangerous road conditions and impact holiday travel," New Jersey's acting governor Tahesha Way said in a statement. "We are urging travelers to avoid travel during the storm and allow crews to tend to the roads." https://www.reuters.com/business/us-airlines-cancel-over-1000-flights-due-winter-storm-warnings-2025-12-26/
2025-12-26 19:41
Yen weakens despite Bank of Japan rate hike Japan proposes record spending, curbs debt issuance Fed funds futures traders expect rate cuts next year NEW YORK, Dec 26 (Reuters) - The Japanese yen softened against the greenback on Friday as investors remained on watch for potential intervention to shore up the currency, while the dollar gained slightly against the euro in thin trading volumes. The yen has remained on the back foot despite a Bank of Japan interest rate hike last week, on concerns about expansive fiscal policy in the country. Sign up here. Japan's government on Friday proposed record spending for next fiscal year while curbing debt issuance, underscoring Prime Minister Sanae Takaichi's challenge in boosting the economy while inflation remains above the central bank's target. Data on Friday also showed that core consumer inflation in Japan's capital slowed in December on moderating cost pressure for food but stayed above the central bank's 2% target, firming the case for further interest rate hikes. Bank of Japan Governor Kazuo Ueda said on Thursday the nation's underlying inflation is accelerating gradually and steadily approaching the central bank's 2% target, reiterating the central bank's readiness to continue raising interest rates. The yen has come off its recent lows, however, as Japanese officials warn about potential intervention. Japan has a free hand in dealing with excessive moves in the yen, Finance Minister Satsuki Katayama said on Tuesday, issuing the strongest warning to date on Tokyo's readiness to intervene in the currency market to arrest sharp declines in the currency. Against the yen , the dollar was last up 0.48% on the day at 156.54. It reached 157.77 last Friday. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, rose 0.01% to 98.04, with the euro down 0.04% at $1.1772. Sterling fell 0.22% to $1.3493. The greenback has weakened this year as investors price in further Federal Reserve rate cuts while other central banks are expected to hold rates steady. Fed officials are balancing a weakening labor market against concerns about inflation that continues to run above the central bank’s 2% annual target. Fed funds futures traders are pricing in between two and three 25 basis point cuts next year, with the first possible in March. In cryptocurrencies, bitcoin fell 0.58% to $87,340. https://www.reuters.com/world/asia-pacific/yen-weaker-thin-trading-traders-stay-alert-intervention-risk-2025-12-26/
2025-12-26 19:21
Several dozen homes in town of Wrightwood left mud-damaged Atmospheric river subsides after three days of torrential rain Flood watch remains in effect for much of Los Angeles area WRIGHTWOOD, California, Dec 26 (Reuters) - Three days of heavy downpours that spawned flash flooding and mudslides across Southern California subsided on Friday, as residents of homes in the hard-hit mountain resort of Wrightwood began digging out mud and assessing damage. The holiday storm drenched the greater Los Angeles basin with up to 6 inches of rain by Friday, with 12 inches or more measured in lower-elevation mountains east of the city, according to the National Weather Service. Sign up here. The deluge, which began around Christmas Eve, was spawned by the region's latest atmospheric river storm, a vast airborne stream of dense moisture siphoned from the Pacific and carried inland. The torrential rains were accompanied by strong, gusty winds that toppled trees and power lines across the region, causing power outages. Heavy snow fell in upper mountain areas. Even before the storm hit, authorities were issuing evacuation warnings to neighborhoods considered vulnerable to flash floods and debris flows, especially near hillsides previously ravaged by wildfires. Motorists were urged to avoid travel whenever possible. Although rainfall was tapering off on Friday, a flood watch remained in effect for much of Southern California. HOMES SWALLOWED IN MUD In Wrightwood, a town of about 5,000 residents that bore the brunt of the storm in the San Gabriel Mountains northeast of Los Angeles, county safety inspectors began initial assessments of property losses. Several dozen homes were heavily damaged by rivers of mud that poured through the town on Wednesday, and officials were on standby for additional debris flows that might occur, San Bernardino County Fire Department spokesman Ryan Beckers said. "Evacuation warnings for Wrightwood are still in effect, and all the roads in the area are closed, except to residents," he said. Misty Cheng, 49, an accountant who owns a vacation home in Wrightwood, said she learned the property was being swallowed by a mudslide from a neighbor who sent her video footage. "My house is buried in over 5 feet of mud," said Cheng, speaking to Reuters by cellphone from her primary residence in nearby Upland, where she was staying when the slide occurred. A stream of mud had forced its way into the house through a crushed wall of the attached garage, filling the living room. By the time she ventured back to the property herself to see the damage first-hand and salvage some belongings, the mud had hardened into a mound solid enough for her to stand on. "I was able to get a truckload of personal items" out of the house, mostly from the second floor, which was left untouched, she said. Without flood insurance, Cheng said she started a GoFundMe page to raise money for repairs. Aerial video footage posted online by the fire department showed clusters of homes and vehicles in the town caked in walls of mud as crews in front-loaders began clearing clogged roadways. Beckers said emergency teams rescued a couple of dozen people who were trapped by high water and debris flows in their vehicles or homes over the holidays, but no deaths or serious injuries were reported in Wrightwood. The Weather Service said Southern California was expected to dry out over the weekend, while across the country a major winter storm threatened to begin dumping record levels of snow over parts of New York state starting on Friday night. https://www.reuters.com/business/environment/more-rain-expected-drenched-california-before-drier-weekend-2025-12-26/
