Global financial markets wrapped up trading on December 24, 2025, in a relatively calm environment. The U.S. and Israel showed mild positive momentum, while Europe and Asia delivered mixed performances. The decline in volatility alongside modest gains in major indices reflects a cautious but stable sentiment, as investors continue to price in a scenario of steady interest rates and gradual disinflation heading into 2026.

United States: Modest Gains and Falling Volatility

Wall Street closed higher. The S&P 500 rose 0.32%, the Nasdaq gained 0.22%, and the Dow Jones Industrial Average added approximately 0.6%. At the same time, the VIX volatility index fell by about 3.8%, signaling reduced investor anxiety and a calmer market environment.

Trading took place without major macroeconomic releases, with attention focused on expectations for Federal Reserve policy in 2026 and whether interest rates can remain supportive without reigniting inflationary pressures.

Asia: Mixed Trading With No Clear Direction

Asian markets closed mixed. The Shanghai Composite stood out with a 0.53% gain, while Hong Kong’s Hang Seng Index added 0.17%. In contrast, Japan’s Nikkei and South Korea’s KOSPI recorded modest declines of roughly 0.14%–0.21%.

The Asian picture reflects a combination of local factors, regional currency fluctuations, and mild profit-taking following earlier moves, alongside the absence of a significant macroeconomic catalyst.

Europe: Cautious Close With a Mixed Bias

European markets finished the session mixed, with a slight positive tilt. Germany’s DAX rose 0.23%, and the Euro Stoxx 50 edged up 0.04%, while the UK’s FTSE 100 fell 0.19%, weighed down mainly by weakness in financial and energy stocks.

Investors across Europe continue to assess the continent’s modest growth outlook and the future direction of European Central Bank policy heading into 2026.

Israel: Modest Gains on the Tel Aviv Stock Exchange

Trading in Tel Aviv ended with mild gains. The TA-35 index rose 0.23%, while the TA-125 advanced 0.35%. Trading volumes remained moderate, with banking and energy stocks providing relative stability.

Local sentiment was supported by stability in global markets and the absence of major negative economic developments.

Commodities and Currencies: Industrial Support Remains Intact

In commodities, prices posted modest gains. Silver rose 0.77%, and copper advanced 0.41%, pointing to steady industrial demand. The U.S. Dollar Index traded steadily around the 98 level, with no unusual volatility.

Looking Ahead to December 25

As markets head into December 25, 2025, the final days of the calendar year are unfolding in a relatively calm environment, marked by mild positive bias but limited momentum. Investors continue to act cautiously, monitoring early macro signals for 2026 and future monetary policy guidance, which are expected to set the tone for the start of the new year.