Source: Sharecast
The Dow slipped 0.6% to 48,063.29, having lost 1.4% since hitting an all-time closing high of 48,731.16 on 24 December. The S&P 500 fell 0.7% to 6,845.50, 1.4% below last week's record of 6,932.05. Meanwhile the Nasdaq finished 0.8% lower at 23,241.99.
Despite the recent pullback, indices finished the year firmly higher, with the Dow, S&P 500 and Nasdaq notching annual gains of 13.0%, 16.4% and 20.4%, respectively.
Artificial intelligence remained the dominant market driver throughout the year, but the theme showed signs of splintering as the rally broadened into other sectors and the performances of the so‑called 'Magnificent Seven' began to diverge. Alphabet emerged as the standout among the megacaps, up more than 65% over the last 12 months, as investors backed the search giant in its push to compete more aggressively with OpenAI.
Markets fell on Tuesday after minutes from the latest Federal Open Market Committee meeting suggested that policymakers would err on the side of caution when it comes to cutting interest rates in early 2026. Looking forward, some officials indicated that "it would likely be appropriate to keep the target range [for interest rates] unchanged for some time".
In economic data on Wednesday, initial jobless claims fell by 16,000 to a seasonally adjusted reading of 199,000 over the week to 27 December, down from the prior week's upwardly revised reading of 215,000 and versus market forecasts for an increase to 220,000. Continuing claims dropped by 47,000 to 1.86m from the prior week's revised print, while the four week moving average, which aims to strip out week-to-week volatility, came in at 218,750, an increase of 1,750 from the previous week's revised average.
In equity news, Nike was a standout performer among big cap names on New Year's Eve, rising over 4% after it was reported that chief executive Elliott Hill and board members Tim Cook and Robert Holmes Swan all raised their stakes following the stock's recent sell-off.
Dow Jones - Risers
Nike Inc. (NKE) $63.96 4.12%
Verizon Communications Inc. (VZ) $40.89 0.07%
Chevron Corp. (CVX) $152.34 0.07%
Johnson & Johnson (JNJ) $207.24 0.02%
Walmart Inc. (WMT) $113.56 0.00%
Walgreens Boots Alliance, Inc. (WBA) $0.00 0.00%
Dowdupont Inc. (DWDP) $0.00 0.00%
Coca-Cola Co. (KO) $69.99 -0.23%
Apple Inc. (AAPL) $271.86 -0.27%
Amgen Inc. (AMGN) $327.31 -0.33%
Dow Jones - Fallers
International Business Machines Corporation (CDI) (IBM) $296.11 -1.93%
American Express Co. (AXP) $371.14 -0.92%
Walt Disney Co. (DIS) $113.91 -0.89%
Microsoft Corp. (MSFT) $483.62 -0.84%
Visa Inc. (V) $351.31 -0.82%
Travelers Company Inc. (TRV) $291.05 -0.79%
Caterpillar Inc. (CAT) $573.83 -0.78%
McDonald's Corp. (MCD) $305.64 -0.78%
Merck & Co. Inc. (MRK) $105.29 -0.75%
3M Co. (MMM) $160.48 -0.66%
S&P 500 - Risers
TripAdvisor Inc. (TRIP) $14.56 4.71%
Nike Inc. (NKE) $63.96 4.12%
DENTSPLY Sirona Inc. (XRAY) $11.42 1.56%
Transdigm Group Inc. (TDG) $1,335.03 1.02%
American Airlines Group (AAL) $15.33 0.99%
Leggett & Platt Inc. (LEG) $10.97 0.55%
CF Industries Holdings Inc. (CF) $77.33 0.53%
Elevance Health Inc. (ELV) $350.97 0.50%
United Airlines Holdings Inc (UAL) $111.82 0.39%
Teleflex Inc. (TFX) $121.94 0.35%
S&P 500 - Fallers
Western Digital Corp. (WDC) $172.29 -4.15%
Micron Technology Inc. (MU) $285.41 -3.76%
KLA-Tencor Corp. (KLAC) $1,215.08 -3.47%
Under Armour Inc. Class A (UAA) $4.99 -3.31%
Universal Health Services Inc. (UHS) $218.46 -3.13%
HP Inc (HPQ) $22.34 -2.71%
Under Armour, Inc. (UA) $4.80 -2.64%
Boston Properties Inc. (BXP) $67.57 -2.58%
Seagate Technology Plc (STX) $275.35 -2.58%
Mondelez International Inc. (MDLZ) $53.83 -2.43%
Nasdaq 100 - Risers
DENTSPLY Sirona Inc. (XRAY) $11.42 1.56%
American Airlines Group (AAL) $15.33 0.99%
Mercadolibre Inc. (MELI) $2,014.26 0.36%
T-Mobile Us, Inc. (TMUS) $203.04 0.26%
Netflix Inc. (NFLX) $93.76 0.18%
Comcast Corp. (CMCSA) $29.89 0.12%
Dollar Tree Inc (DLTR) $123.00 0.10%
Fiserv Inc. (FI) $63.80 0.00%
Synopsys Inc. (SNPS) $474.49 0.00%
eBay Inc. (EBAY) $87.10 0.00%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $10.50 -4.68%
Western Digital Corp. (WDC) $172.29 -4.15%
Micron Technology Inc. (MU) $285.41 -3.76%
KLA-Tencor Corp. (KLAC) $1,215.08 -3.47%
NetEase Inc. Ads (NTES) $137.60 -3.45%
Seagate Technology Plc (STX) $275.35 -2.58%
Mondelez International Inc. (MDLZ) $53.83 -2.43%
Lam Research Corp. (LRCX) $171.08 -2.42%
Microchip Technology Inc. (MCHP) $63.72 -2.04%
Fastenal Co. (FAST) $40.13 -1.99%