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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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Sweeping Layoffs Reshape the US Department of Health and Human Services

In a significant restructuring move, the US Department of Health and Human Services (HHS) has initiated mass layoffs, with up to 10,000 employees expected to be affected. Notices of dismissal began circulating on Tuesday, marking the start of a major overhaul aimed at streamlining the department's operations. This reduction follows a series of executive actions, including the revocation of collective bargaining rights for federal health agency workers.

The layoffs span multiple agencies under HHS, including the Centers for Disease Control and Prevention (CDC), the Food and Drug Administration (FDA), and the National Institutes of Health (NIH). Critics warn that these cuts could undermine the nation's ability to respond to health emergencies and ongoing disease threats. Health Secretary Robert F. Kennedy Jr. defended the move, describing it as a necessary step to improve efficiency and reduce bureaucracy.

The restructuring also includes the creation of a new office, the Administration for a Healthy America, which will consolidate several programs. While the administration argues that these changes will lead to better outcomes with fewer resources, concerns about the potential impact on public health services remain high.

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