By William Collins, consultant in stock markets – Eurasia Business News, December 29, 2025. Article no 1955
Stock futures were slightly lower early Monday, December 29, as traders took profits near record index levels and rotated out of big technology names and precious metals after a sharp runup. Nvidia and Tesla were among the notable premarket laggards, weighing on broader futures and tempering enthusiasm despite major benchmarks hovering near all-time highs.
Index levels and year-end pattern
The S&P 500 and Dow Jones Industrial Average both set fresh record closes on Christmas Eve and were little changed in the final session before Monday’s trade.
This period typically coincides with the Christmas rally, a seasonal tendency for stocks to rise over the last five trading days of the year and the first two of the new year, though the effect can be modest and is not guaranteed.
Big tech and futures moves
Equity futures pointed to a slightly negative open, with weakness concentrated in high‑beta technology stocks such as Nvidia and Tesla, which have been major contributors to this year’s gains and are more sensitive to profit‑taking.
The broader futures pullback came despite indexes holding near records, suggesting positioning and short‑term sentiment rather than a clear shift in macroeconomic expectations.
Precious metals pullback
Gold and silver futures retreated after both set record highs on Friday, reflecting a pause in safe‑haven and inflation‑hedge flows following a powerful rally.
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The exchange operator CME Group raised margin requirements for gold, silver, platinum and palladium futures, meaning traders must now post more collateral to hold positions, a move that can amplify short‑term selling pressure as leveraged participants trim exposure.
Silver is retreating Monday with some profit-taking at the end of a year that’s seen it eclipse other major assets. Spot silver (XAGUSD:CUR) (SLV) is down 5% after a 33% pop in December alone. It’s up more than 170% year to date and now the third-most valuable asset in the world.
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Copper prices in London eyed new heights, extending a rally fueled by booming demand and fears that the Trump administration could impose import tariffs next year. COMEX copper was trading around 5.69–5.70 USD per pound on December 29, off the recent peak but still close to the all‑time high near 5.9–5.94 USD seen earlier in the month.
Why margin hikes matter
Higher margin requirements increase trading costs and reduce leverage, which can prompt some speculative traders to close or reduce positions, especially after large price swings.
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For precious metals, this often translates into near‑term volatility and corrections even when longer‑term bullish drivers, such as central‑bank demand or geopolitical risk, remain in place.
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© Copyright 2025 – Eurasia Business News. Article no. 1955
Eurasia Business News 