Wall Street Dealers on Hold Ahead of Jobs Data – US Market Wrap

The final full trading week of 2025 began with equities, bonds, and the dollar fluctuating as Wall Street prepared for critical economic data that will help define the Federal Reserve’s rate policy.
On the eve of the jobs report, the S&P 500 closed slightly lower. Broadcom saw its worst three-day drop since 2020 as a result of a continued technological slump. Oracle’s multi-session selloff reached almost 17%. A drop in cryptocurrency prices also kept riskier assets under control.
Treasury two-year yields fell amid expectations that the Fed will lower rates twice next year to help the labor market, despite signs of inflationary pressure. The dollar barely budged, closing at its lowest level since October.
Fed’s Miran claimed that the policy stance is overly restrictive. Following last week’s cut, Fed’s Williams stated that policy is well-positioned for next year. His Boston colleague, Fed’s Collins, said the rate decision was a “close call” because she is concerned about increasing inflation.
The S&P 500 closed below 6,820. Megacaps were mixed, with Apple and Amazon dipping and Tesla and Nvidia rising. A measure of small businesses underperformed.
The 10-year Treasury yield remained relatively stable at 4.18%. Bitcoin fell below $86,000. The yen rose on speculations that the Bank of Japan will raise interest rates this week.