Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, Dec. 22, 2025.
Michael Nagle | Bloomberg | Getty Images
Stock futures traded near the flatline Monday night after a strong start to a shortened trading week.
Futures tied to the Dow Jones Industrial Average lost 5 points. S&P 500 futures inched up 0.01%, while Nasdaq 100 futures advanced about 0.1%.
The S&P 500 is coming off of its third winning session, boosted by a 1.5% jump in chipmaking giant Nvidia and advances in Micron and Oracle. Ten out of 11 sectors saw gains in the session. Materials and financials were the top performing sectors, with Newmont and Freeport-McMoRan jumping 3% as gold and silver futures hit records.
The 30-stock Dow advanced about 228 points, or 0.5%, while the tech-heavy Nasdaq Composite climbed 0.5%.
“This market is still rather healthy. Valuations are not high enough at this level. We don’t see the frothiness that we saw back then, and the commercial aspect is so much better now that it was in the late ’90s,” Chris Harvey, head of equity and portfolio strategy at CIBC Capital Markets said on CNBC’s “Closing Bell,” comparing the hype around AI stocks to the froth of the dot-com bubble.
Harvey noted that unlike the internet investment craze of the late 1990s, financials have led the market higher in recent weeks as investors have rotated into cyclical areas of the market. JPMorgan Chase shares have also outperformed a sizable portion of tech names over the past three and five years, Harvey pointed out.
The New York Stock Exchange will close early on Wednesday at 1 p.m. ET on Christmas Eve and will be closed Thursday for Christmas Day.
