US stocks rose on Friday after snapping a recent losing streak, as signs of cooling inflation and waning AI worries buoyed Wall Street optimism toward the tail end of a topsy-turvy week.
The S&P 500 (^GSPC) put on 0.8% and the Nasdaq Composite (^IXIC) gained over 1.3%, building on Thursday’s roaring rally. The Dow Jones Industrial Average (^DJI) climbed 0.3%.
With the late-week rebound, the S&P 500 and Nasdaq booked weekly wins, rising 0.1% and 0.4%, respectively, in the last full week of trading in 2025 as Wall Street tries for a “Santa Claus rally” to end the year. The Dow fell 0.6% on the week.
On the tech front, Oracle (ORCL) stock jumped after China’s ByteDance signed deals to create a US TikTok joint venture, including the company, which has had a turbulent week. Faith in the AI trade got another boost from Nvidia (NVDA), whose shares popped on a Reuters report that the US is reviewing prospects for sales of its H200 chips in China.
Meanwhile, nine pharmaceuticals struck deals with the Trump administration on Friday to lower drug prices for some Americans in exchange for a three-year tariff exemption on their products.
Investors got through a catch-up week for economic data with next year’s rate-cut hopes intact, having embraced the outcome of this week’s delayed November reports on jobs and consumer inflation despite warnings over their reliability.
A rosier inflation picture, combined with a weakening job market, has reignited hopes that the Federal Reserve will continue its recent string of easing.
A plurality of traders are still betting on two cuts next year but have shifted more bets in recent days toward more cuts. Friday will bring a final picture of consumer sentiment from the University of Michigan, after the firm’s initial December survey found the key measure increasing for the first time in five months.
Meanwhile, the benchmark 10-year Treasury yield (^TNX) rose to hit 4.15% as bond markets across the world absorbed the Bank of Japan’s hike in interest rates to the highest level since 1995.
US stock markets will be open as scheduled on Dec. 24 and Dec. 26, the NYSE and Nasdaq said, after President Trump ordered the federal government to close on those days.
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Stocks closed out the week on an up note as the AI trade appeared to get back on track.
The tech-heavy Nasdaq Composite (^IXIC) rose 1.3%, while the S&P 500 (^GSPC) added roughly 0.9%, helping the gauge recover losses earlier in the week.
Tech stocks rallied after investors shook off prior jitters over the AI trade.
Meanwhile, gold (GC=F) and silver (SI=F) traded near record highs, while bitcoin (BTC-USD) hovered near $87,000, remaining within a two-week range as the token struggles to rebound meaningfully following its losses in October and November.
The stock market will be closed next Thursday, Dec. 25, for the Christmas holiday. The market on Wednesday, Dec. 24, will close at 1 p.m. ET.
Bitcoin (BTC-USD) hovered near $87,000 on Friday, having traded in a tight range over the past week.
The world’s largest cryptocurrency has remained unchanged over the past five days. Stattegists believe the token will stay rangebound for the near term.
Pharmaceutical stocks climbed after President Donald Trump announced pricing deals with nine drugmakers, offering a three-year pause on threatened tariffs in return for steps to reduce drug prices in the US.
Shares of Merck (MRK), Bristol Myers Squibb (BMY), Gilead Sciences (GILD), Amgen (AMGN), and Novartis (NVS) all rose following the announcement.
The deals include reduced Medicaid prices, discounts to cash buyers, and commitments to launch new medicines domestically at prices comparable to those overseas.
The administration said more companies are expected to announce similar agreements next year.
Gold (GC=F) and silver (SI=F) traded near record highs on Friday as the metals are on pace to close out a stellar year.
Gold futures inched up 0.4% to hover around $4,380 per ounce, while silver futures jumped 3% to trade above $67 per ounce.
Expectations of looser monetary policy and a weaker dollar have buoyed precious metal prices this year.
Gold is up more than 60% year-to-date, while silver has rallied 125%.
Fri, December 19, 2025 at 6:51 PM UTC North Korea just had its biggest year ever stealing cryptocurrency
Yahoo Finance’s David Hollerith reports:
Fri, December 19, 2025 at 6:05 PM UTC CoreWeave stock surges 20%, recovering from recent losses
CoreWeave (CRWV) stock soared 20%, rebounding from last week’s punishing losses, as Citi analysts resumed coverage of the stock and OpenAI (OPAI.PVT) set its sights on a $100 billion fundraising round.
Citi reinstated coverage of CoreWeave with an adjusted price target of $135, down from its previous target of $192, but noted that the company is staring down “overwhelming” demand.
Also fueling CoreWeave’s stock on Friday was a Wall Street Journal report that OpenAI is seeking to raise up to $100 billion, which would value the company at as high as $830 billion.
CoreWeave and OpenAI have been closely tied together since the two AI companies agreed to a $11.9 billion partnership that has since expanded to a contract value of up to $22.4 billion. Under the agreement, CoreWeave’s AI computing data centers will power the training of its next-generation models.
In recent months, investors have grown more skeptical about OpenAI’s high-priced dealmaking, leading to volatility in stocks like CoreWeave. Excluding Friday’s gains, CoreWeave stock had been pacing for a 13% decline on the week as AI valuation concerns surfaced.
Fri, December 19, 2025 at 5:09 PM UTC Cruise stocks gain as Carnival CEO says demand is proving resilient
Carnival’s (CCL) strong 2026 guidance was the tide that lifted all cruise stocks on Friday.
Carnival stock surged over 8% in midday trading, while Norwegian Cruise Lines (NCLH) rose 6% and Royal Caribbean (RCL) gained about 3%.
Even as sentiment in the US has soured this year, Carnival’s quarterly results showed that consumers continue to spend on cruises.
“Demand for our cruise lines is proving far more resilient than traditional macro indicators would suggest,” Carnival CEO Josh Weinstein said on the company’s earnings call. Weinstein noted that Carnival is already about two-thirds booked for next year at historically high prices for North America and Europe.
For next year, Carnival expects adjusted net income to grow approximately 12% year over year on less than 1% capacity growth. The company expects full-year adjusted diluted earnings per share of $2.48, ahead of Wall Street’s estimates.
Fri, December 19, 2025 at 4:08 PM UTC Nike’s challenges drag down footwear stocks
Nike (NKE) stock fell 9% during Friday’s session, dragging other footwear stocks lower.
Shares of Deckers Outdoor (DECK), the maker of Hoka sneakers, dropped 1.3%, while shares of On Running (ONON) declined by 0.3% and Crocs (CROX) fell 1.2%. Dick’s Sporting Goods (DKS), which sells Nike sneakers and apparel directly and recently acquired Foot Locker, traded slightly higher as of 11 a.m.
Nike earnings and revenue beat Wall Street estimates for its fiscal second quarter, but profits declined as the athletic apparel company faces dual headwinds from tariffs and China.
On the company’s earnings call, CEO Elliott Hill said Nike is in the “middle innings of our comeback.”
“We highlighted last quarter that it will take more time to return to healthy growth in Greater China and Converse, and we expect headwinds to continue for the balance of the fiscal year,” Nike CFO Matthew Friend said on the call. “As we highlighted last quarter, we are also navigating new structural headwinds from the $1.5 billion of annualized incremental product costs due to higher US tariffs.”
Fri, December 19, 2025 at 4:00 PM UTC Home sales ticked up for third straight month, but the market is still stuck in a deep slump
Yahoo Finance’s Claire Boston reports:
Fri, December 19, 2025 at 3:12 PM UTC Consumer sentiment improves in December, but less than expected
University of Michigan’s index of consumer sentiment registered a final reading of 52.9 for December, up from 51 the previous month but below the 53.5 expected by economists tracked by Bloomberg.
“Despite some signs of improvement to close out the year, sentiment remains nearly 30% below December 2024, as pocketbook issues continue to dominate consumer views of the economy,” wrote Joanne Hsu, the director of the university’s consumer surveys.
Hsu noted that sentiment improved for lower-income consumers but was little changed for those with higher incomes.
Year-ahead inflation expectations fell, hitting the lowest reading in 11 months, at 4.2%
Fri, December 19, 2025 at 3:01 PM UTC Nvidia jumps over 3% as chip stocks rally
Nvidia (NVDA) stock jumped 3.7% half an hour after the open, putting the AI chip stalwart on track for a weekly gain.
The AI stalwart led the “Magnificent Seven” stocks in gains on Friday after the Trump administration began its review of Nvidia H200 chip exports to China (scroll for more detail). Investors cheered the move as a sign that President Trump was moving ahead with his promise to allow Nvidia to sell advanced chips to China in exchange for a 25% fee to the government.
Other chipmakers and chip developers rallied in early trading. AMD (AMD) climbed nearly 5%, while Intel (INTC) advanced 3%. Broadcom (AVGO) rose 2.5%. Micron (MU) investors extended their post-earnings buying spree, with the stock rising 7% on Friday after Thursday’s 10% gain.
Fri, December 19, 2025 at 2:37 PM UTC Stocks jump at the open
US stocks jumped at the open Friday.
The tech heavy Nasdaq Composite (^IXIC) led the gains, up nearly 0.7%, while the S&P 500 (^GSPC) added roughly 0.5%, helping the gauged nearly recover losses earlier in the week. The indexes were set for slight, fractional weekly losses as of Friday morning.
The Dow Jones Industrial Average (^DJI), meanwhile, put on 0.4% but was still set to see a five-day loss of roughly 0.6%.
Fri, December 19, 2025 at 2:29 PM UTC DraftKings launches prediction market. The stock is rising.
DraftKings (DKNG) stock gained 1.7% just ahead of the opening bell on Friday after the company said it has formally entered the prediction markets.
Under the oversight of the Commodity Futures Trading Commission (CFTC), DraftKings will set up a mobile app and web offering that will allow users to bet on future outcomes. Event contracts in sports and financial markets will be available initially in 38 states, although the company plans to expand to additional categories, such as entertainment and culture.
Prediction markets have boomed in 2025 as a lighter regulatory touch by the Trump administration has opened the floodgates for platforms to cash in. In late November, Robinhood (HOOD) expanded its fast-growing prediction market services as new competitors try to take share from the incumbents, Kalshi and Polymarket.
But some warn of the behavioral risks inherent in prediction markets, saying that the speculative nature of the markets could create credit stress down the road if bettors struggle to pay their bills.
Read more: What are prediction markets and how do they work?
Fri, December 19, 2025 at 2:06 PM UTC Treasury yields jump after Bank of Japan hikes rates to highest level since 1995
US Treasury prices fell on Friday, lifting yields, after the Bank of Japan hiked its policy rate to its highest level in 30 years.
The benchmark 10-year Treasury yield (^TNX) rose 3 basis points to 4.15% while the 30-year yield (^TYX) hit 4.83%. The 5-year yield (^FVX) increased to 3.69%.
Global bond yields rose after the Bank of Japan raised its policy rate by 0.25% to 0.75%, its highest level since 1995, as it kept rates near zero for years in an effort to fight deflation.
The effects of Japan’s rate hike have ripple effects in the US too: The increase in Japanese rates could make the so-called carry trade — in which investors borrow cheaply in Japan and then seek higher-yielding US Treasurys and other assets — less attractive.
Meanwhile, on Thursday, the European Central Bank kept rates steady at 2% for the fourth consecutive time. And a little over a week ago, the US Federal Reserve cut interest rates for the third time this year to a range of 3.5% to 3.75%
Fri, December 19, 2025 at 1:23 PM UTC Oil heads for second weekly decline as glut concerns dominate
Oil headed for its second weekly decline as concerns about a growing glut continued to weigh on prices.
Brent crude (BZ=F), the international benchmark, rose 0.6% to $60 a barrel on Friday morning but was down 1.4% on the week. West Texas Intermediate, the US benchmark, gained 0.8% to trade hands at $56 a barrel but was down 1.7% for the week.
Oil prices declined for the week even as a Ukrainian strike on an oil tanker connected to Russia’s shadow fleet escalated a string of attacks in the Mediterranean.
From Bloomberg:
Fri, December 19, 2025 at 12:57 PM UTC Why Goldman and Citadel believe in a ‘Santa Claus’ rally
If history is any guide, stocks will keep pushing higher through the end of December and into January, according to Wall Street strategists.
Bloomberg reports:
Fri, December 19, 2025 at 11:41 AM UTC Nvidia stock rises as US launches review that could unblock H200 shipments to China
The Trump administration has launched a review that could result in Nvidia (NVDA) being allowed to make its first shipments of advanced AI chips to China, sources told Reuters.
Shares of the chipmaking giant rose before the bell as investors welcomed the sign that President Trump will make good on his pledge to allow the controversial sales of the H200 chips.
Reuters reports:
FedEx (FDX) stock fell 1% before the bell on Friday after the company announced improved results in the quarter ending Nov. 30. However, the global courier delivery services incurred $25 million in additional costs in November after the UPS cargo plane crash grounded some of FedEx’s fleet.
Toyota (TM) stock edged up higher during premarket trading, rising more than 1% after the auto group said it will ship three models produced in America to Japan in 2026 in a bid to appease President Trump.
Coinbase (COIN) stock rose 3% before the bell on Friday. The crypto exchange said it plans to sue three US states over their attempts to regulate prediction markets.
CoreWeave (CRWV) stock jumped 5% during premarket trading on Friday. Improved sentiment on Thursday after Micron’s outlook beat expectations has helped drive demand for memory chips used in data centers. Citi (C) also resumed coverage of the stock, setting a price target that indicated its stock could double from current levels.
Fri, December 19, 2025 at 10:15 AM UTC Nike stock slumps as China struggles continue and tariff drag persists
Nike reported a drop in quarterly profits, citing a drag from higher US tariffs and continued weakness in China in its results on Thursday.
Shares in the sneaker giant tumbled 10% in premarket after the sharp fall in China revenue prompted CEO Elliott Hill to say improvements “are not happening at the pace we like.”
AFP reports: