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Wall Street Holds Steady as S&P 500 Hits Record Ahead of Christmas Break

Market Snapshot – December 24, 2025 Dow Jones Futures: Flat at 48,735 points S&P 500 Futures: Near 6,957 points, little changed after Tuesday’s record close Nasdaq 100 Futures: Slight dip of 0.1% to 25,796.5 points S&P 500 Index: Closed Tuesday at 6,909, its latest all-time high Key Drivers Robust economic growth continues to fuel investor optimism. Seasonal “Santa Claus rally” has lifted stocks for four consecutive sessions. Markets will close early today at 1 p.m. EST and remain shut tomorrow for Christmas Day. Traders remain cautious about inflation and potential Federal Reserve rate cuts in 2026. Quick Take Wall Street enters the holiday season on a high note, with the S&P 500 near the 7,000 mark and futures showing little movement. The shortened trading session means liquidity will be thin, amplifying small moves. Still, the overall tone remains upbeat, with investors betting that the year-end rally will carry into the final days of 2025.

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Canada’s Counter-Tariff Play: Targeting American Consumer Essentials

In response to U.S. tariffs, the Canadian government has unveiled a counter-tariff strategy aimed squarely at a broad spectrum of American consumer goods. The measures, set to take effect in two phases beginning Tuesday, target products that are both highly popular in the United States and strategically chosen to minimize the domestic impact in Canada.

Among the first wave of goods to be hit are items from the food and beverage category. American beer, wine, and bourbon are on the list, as are fruits and fruit juices—including specialty items such as orange juice from key U.S. producing states. In addition to these, Canada’s counter-tariffs extend to everyday consumer staples like clothing and footwear, along with accessories and undergarments. Household items are also in the crosshairs; retailers should expect tariffs on appliances, furniture, and a range of home wares.

Other categories include automotive parts and motorcycles, reflecting a broader approach that touches on recreational goods and transport components. Even products such as tobacco, lumber, and paper are being targeted, underlining the comprehensive nature of the retaliatory measures. According to senior government officials, the selected items are expected to hit key sectors of the American economy, serving as a clear signal that the counter-tariff strategy is designed not only to retaliate but also to press for a resolution of the ongoing trade dispute citeturn0search6; citeturn0search1.

This move marks another chapter in the evolving trade tensions between Canada and the United States. While the full list of targeted products will expand in the coming weeks, these early steps highlight Canada’s intention to use its tariff tools strategically—aiming to affect sectors where American consumers are likely to feel the pinch while ensuring that Canadian industries, with available domestic alternatives, remain largely insulated.

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