After Hours Report

Updated: 30-Dec-25 17:13 ET
NIKE runs higher after CEO disclosed purchase of shares

The stock market drifted sideways today, with a lack of catalysts keeping the S&P 500 (-0.1%), Nasdaq Composite (-0.2%), and DJIA (-0.2%) within close range of their flatlines. 

Sector strength was a nearly even split, with five S&P 500 sectors finishing at or above their baselines. 

The energy sector (+0.8%) captured the widest gain, with strong leadership from oil and gas producers despite crude oil settling today's session $0.16 lower (-0.3%) at $57.94 per barrel. It was the only sector to finish with a gain wider than 0.5%.

The communication services sector (+0.3%) captured the next widest gain, supported by a strong showing from Meta Platforms (META 666.01, +7.32, +1.11%) amid a muted day for mega-cap stocks that saw the Vanguard Mega Cap Growth ETF finish 0.1% lower. The stock traded higher this morning after the company announced its acquisition of the Singapore-based AI startup Manus. 

Elsewhere in the sector, CNBC and Bloomberg both reported that Warner Bros. Discovery (WBD 28.96, +0.16, +0.57%) plans to reject Paramount Skydance's (PSKY 13.51, +0.01, +0.07%) latest takeover bid. 

Meanwhile, the materials sector finished flat as metal prices rebounded from yesterday's slide. Silver led the advance, settling today's session $7.41 higher (+10.5%) at $77.93 per ozt. Newmont Corporation (NEM 101.87, +2.06, +2.06%) was a standout after falling 5.6% yesterday.

Losses across the six retreating sectors were contained to 0.3% or less. However, the top-weighted information technology sector (-0.3%) was one of the sectors that finished at the bottom of the leaderboard, with its late slide pushing the major averages near session lows at the close.

The sector spent the session oscillating around its flatline, with Intel (INTC 37.30, +0.62, +1.69%) spending time as the top-performing S&P 500 name before giving up around half of its gain. NVIDIA (NVDA 187.54, -0.68, -0.36%) and Apple (AAPL 273.02, -0.74, -0.27%) finished with modest losses, while Palantir Technologies (PLTR 180.84, -3.34, -1.81%) was a laggard. 

Outside of the S&P 500, the Russell 2000 (-0.8%) and S&P Mid Cap 400 (-0.4%) underperformed. 

Ultimately today's low-volume action reflected a market in search of fresh catalysts heading into the new year. Last week's renewed enthusiasm in the AI trade has waned, leaving investors to question if the "Santa Claus" rally has come to a close as the market tilts slightly negative this week. The market will be open for a full trading day tomorrow before closing on Thursday for the New Year's Day holiday.

The 2:00 p.m. ET release of the December FOMC minutes did not produce any surprises. Most policymakers anticipate additional rate cuts if inflation continues to cool, although some officials favor keeping rates at current levels for a period of time.

U.S. Treasuries continued their quiet start to the week with a shallow Tuesday dip that narrowed Monday's gains in the belly of the curve. The 2-year note yield settled down one basis point at 3.45%, and the 10-year note yield settled up one basis point at 4.13%. 

  • Nasdaq Composite: +21.3% YTD
  • S&P 500: +17.3% YTD
  • DJIA: +13.7% YTD
  • Russell 2000: +12.2% YTD
  • S&P Mid Cap 400: +7.1% YTD

Reviewing today's data:

  • The Chicago PMI hit 43.5 in December (Briefing.com consensus 40.4), up from 36.3 in November.
  • The FHFA Housing Price Index was up 0.4% month-over-month in October (Briefing.com consensus 0.1%) after decreasing a revised 0.1% (from 0.0%) in September.
  • The S&P Case-Shiller Home Price Index was up 1.3% year-over-year in October (Briefing.com consensus 1.1%), down from 1.4% in September.

Overseas:

  • Europe: DAX +0.6%, FTSE +0.8%, CAC +0.7%
  • Asia: Nikkei -0.4%, Hang Seng +0.9%, Shanghai flat

Commodities:

  • Crude Oil -0.16 @ 57.94
  • Nat Gas -1.31 @ 3.35
  • Gold +40.80 @ 4386.30
  • Silver +7.41 @ 77.93
  • Copper +0.21 @ 5.78

After-Hours Spotlight:

  • Hyatt Hotels (H) completes $2 billion sale of playa’s owned real estate portfolio to Tortuga; updates full-year outlook due to Hurricane Melissa...H +0.8%
  • KORU Medical Systems (KRMD) announces 510(k) submission for clearance of the FreedomEDGE System with a commercialized oncology biologic...KRMD flat
  • NIKE (NKE) CEO bought 16388 shares at $61.10 worth ~$1 mln...NKE +1.3%
  • One Stop Systems (OSS) announces the sale of Bressner Technology GmbH to Hiper Euro GMBH; updates FY25 guidance...OSS +1.9%
  • Ultragenyx Pharma (RARE) completes rolling submission of BLA to the FDA for DTX401 AAV Gene Therapy...RARE -1.4%

Fair Value for Wednesday, December 31:

  • S&P 500: 6,943
  • Nasdaq 100: 25,663
  • DJIA: 48,634
Today's News Summary:

For a full rundown of today's market and after hours developments, see Live In Play

  • Earnings/Guidance (Full Earnings Calendar):
    • Azul S.A. (AZUL) reports unaudited monthly financial information to the US Court; November total operating revenue was R 1.817 bln
  • General News
    • President Trump says that Fed Chairman Jerome Powell should resign and that he still might fire him. He expects to announce his choice for Fed Chair in January, according to Bloomberg
    • President Trump issued new warnings against Iran and Hamas. Iran threatened a "harsh" response, according to NBC News
    • President Trump said the United States "hit" a dock in Venezuela, according to ABC News
    • China is aiming to mandate 50% domestic equipment for producers of chips, according to Reuters
    • China fires rockets into waters off Taiwan, according to Reuters
    • China issues notice on implementing large-scale equipment renewal and consumer goods trade-in policy in 2026
    • OPEC+ is planning to keep the production pause in place this weekend, according to Bloomberg
    • U.S. and Israel entered into the agreement on the establishment of a free trade area between the Government of the United States of America and the Government of Israel
    • States increasing minimum wage in January, according to NY Post
    • Los Angeles will implement new rent control limits starting in February of 2026, according to WSJ
    • National average for gas prices falls to $2.75/gallon, according to ABC News
    • Airbus (EADSY) to lead Spain's new combat training system
    • Blue Bird (BLBD) announces that former CEO Phil Horlock will be stepping down from the Board, effective immediately
    • Boeing (BA): The State Department approves a possible Foreign Military Sale to the Government of Denmark of Multi-Mission Maritime Patrol and Reconnaissance Aircraft P-8A with Indirect Fire Protection Capability and related equipment for an estimated cost of $1.8 billion
    • Boeing (BA) awarded a $8.57 bln Air Force contract; Also awarded a $4.2 bln modification to previously awarded Air Force contract
    • Boyd Gaming (BYD) purchased renewable energy investment tax credits
    • Bridger Aerospace Group (BAER) announced that it has completed the purchase of two Canadair CL-215T Amphibious Aircraft from MAB Funding, LLC, the partnership between Bridger, Marathon Asset Management LP and Eyre Street Capital
    • Cango (CANG) secures US$10.5 million investment from EWCL to accelerate growth
    • CapsoVision (CV) announces 510(k) submission for the addition of AI-Assisted Reading Module in CapsoCam Plus
    • Collective Mining (CNL) announces assays results for ten diamond drill holes at the Guayabales project
    • CVR Energy (CVI) discloses that its board appointed Mark A. Pytosh as CEO, effective January 1
    • Cybin (CYBN) Initiates at-the-market equity program of up to us$100 million
    • Expensify (EXFY) COO resigned
    • Huntington Ingalls (HII) delivers Arleigh Burke-class guided missile destroyer Ted Stevens (DDG 128) to the US Navy
    • ICU Medical (ICUI): FDA announces intravascular administration set recall: ICU Medical removes IV Gravity burette set
    • Luckin Coffee (LK) considering purchase of some closed Starbucks (SBUX) NYC stores, according to NY Post
    • Meta Platforms (META): Manus joins Meta, accelerating AI innovation for business
    • Mondelez Int'l (MDLZ) announces an expansion of its December 24, 2025 voluntary recall in the United States of CHIPS AHOY! Baked Bites Brookie
    • National Presto Indust. (NPK) announced defense segment awar
    • Norfolk Southern's (NSC) Chicago Landers Intermodal Facility experienced a commercial power outage that is currently impacting operations due to recent inclement weather in the Chicago area
    • NVIDIA (NVDA) said to be in advanced talks to buy AI21 Labs for up to $3 bln, according to Reuters
    • Pacira BioSciences (PCRX): DOMA Perpetual Capital Management announces intent to nominate three highly qualified, independent director candidates at 2026 Annual Meeting of Pacira BioSciences, Inc.
    • SAB BIO (SABS) files $300 mln mixed securities shelf offering
    • Samsung (SSNLF): U.S. authorized Samsung chip-making tool shipments to China, according to Reuters
    • Surf Air Mobility (SRFM) advances SurfOS Development, targets commercial software rollout in 2026, and reports milestones
    • T1 Energy (TE) provides update on T1 Energy FEOC compliance efforts
    • Verastem Oncology (VSTM) provides update on RAMP 203 phase 1/2 clinical trial for advanced KRAS G12C mutant non-small cell lung cancer
    • Walmart (WMT) was informed that Chris Nicholas, Executive Vice President, President and Chief Executive Officer, Sam’s Club U.S., entered into a stock trading plan
    • Warner Bros. Discovery (WBD): Bloomberg also reporting that WBD plans to reject bid from Paramount (PSKY) next week
    • XOMA Royalty Corporation (XOMA) has amended its collaboration, originally established in 2006, with Takeda (TAK) through a strategic royalty share transaction
  • Upgrades:
    • BHP Group (BHP) upgraded to Buy from Hold at Argus; tgt $68
  • Downgrades:
    • Mereo BioPharma (MREO) downgraded to Hold from Buy at Jefferies; tgt $0.50
  • Others:
    • AvePoint (AVPT) initiated with an Overweight at Stephens; tgt $18
    • Commvault Systems (CVLT) initiated with an Overweight at Stephens; tgt $162
    • Lindblad Expeditions (LIND) initiated with a Buy at The Benchmark Company; tgt $18
    • Palisade Bio (PALI) initiated with a Buy at Clear Street, tgt $12
    • Rithm Property Trust (RPT) initiated with an Outperform at Wedbush; tgt $4
    • Rubrik (RBRK) initiated with an Overweight at Stephens; tgt $105
    • Varonis Systems (VRNS) initiated with an Equal-Weight at Stephens; tgt $40
  • Econ Data (Wednesday):
    • 7:00 ET: Weekly MBA Mortgage Index (prior -5.0%)
    • 8:30 ET: Weekly Initial Claims (Briefing.com consensus 226,000; prior 214,000) and Continuing Claims (prior 1.923 mln)
    • 10:30 ET: Weekly crude oil inventories (prior 0.4 mln)
    • 12:00 ET: Weekly natural gas inventories (prior -166 bcf)
    • 14:00 ET: Treasury market early close
  • Earnings:
    • No earnings of note.
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