2025 Kicks Off With Gains In Dollar And Crude Oil, Asia Markets Mixed, Europe Dips - Global Markets Today While Us Slept

On Tuesday, December 31, U.S. markets closed lower as Wall Street ended 2024 on a subdued note. Major indexes slipped during a low-volume session, capping a year of extraordinary gains driven by the AI boom, Federal Reserve rate cuts, and a resilient U.S. economy.

The Nasdaq surged 28.6%, the S&P 500 climbed 23.3%, and the Dow advanced 12.9%, marking the S&P 500’s best two-year streak since 1997-1998.

Energy, materials, and real estate led S&P 500 gains Tuesday, while consumer discretionary and tech stocks ended lower. Of the 11 primary sectors in the S&P 500, communication services, technology, and consumer discretionary were the standout performers in 2024, posting annual gains ranging from 29.1% to 38.9%.

In economic data, the S&P Case-Shiller home price index rose 4.2% year-over-year in October, slightly below September’s 4.6% and above the 4.1% forecast. The FHFA house price index increased 0.4% in October, missing the 0.5% estimate. Meanwhile, Texas’ Dallas Fed service sector index dipped to 9.6 from 9.8 in November.

The Dow Jones Industrial Average was down 0.07% and closed at 42,544.22, the S&P 500 closed lower by 0.43% at 5,881.60, and the Nasdaq Composite fell 0.90% to finish at 19,310.79.

Asia Markets Today

• Japan’s market closed for New Year’s Day.
• On Thursday, Australia’s S&P/ASX 200 closed the session higher by 0.52% at 8,201.20, led by gains in the Energy, Resources and Metals & Mining sectors.
• India's Nifty 50 closed higher by 1.79% at 24,168.50, and Nifty 500 rose 1.45% closing at 22,807.90,
• China’s Shanghai Composite fell 2.66% to close at 3,262.56, while the Shenzhen CSI 300 declined 2.91%, finishing the day at 3,820.40.
• Hong Kong’s Hang Seng closed the session lower by 2.18% at 19,623.32.

Eurozone at 05:30 AM ET

• The European STOXX 50 was down 0.73%.
• Germany’s DAX declined 0.11%.
• France’s CAC fell 1.03%.
• U.K.’s FTSE Index 100 traded lower by 0.02%.
• European stocks dipped as investors assessed economic data and anticipated further ECB rate cuts to support struggling economies.

Commodities at 05:30 AM ET

• Crude Oil WTI was trading higher by 1.31% at $72.67/bbl, and Brent was up 1.19% at $75.49/bbl.
• Oil prices rose slightly as markets reopened for 2025, driven by China’s growth pledge and manufacturing data. Investors are watching geopolitical risks, U.S. economic data, and oil inventories, while forecasts suggest prices may stay constrained due to weak demand and rising global supplies.
• Natural Gas gained 1.05% to $3.668.
• Gold was trading higher by 0.68% at $2,657.86, Silver was up 2.05% to $29.835, and Copper slid 0.45% to $4.0083.

U.S. Futures at 05:30 AM ET

Dow futures were up 0.46%, S&P 500 futures gained 0.57%, and Nasdaq 100 futures rose 0.75%.

Forex at 05:30 AM ET

• The U.S. Dollar Index was up 0.42% to 108.58, USD/JPY fell 0.22% to 156.90, and USD/AUD slid 0.43% to 1.6080.
• The U.S. dollar dipped slightly Thursday but remained near its two-year high, supported by the Federal Reserve’s hawkish stance and policy uncertainty from the incoming Trump administration.

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