S&P 500 Logs Record Close; VIX Hits 1-Year Low

Gold and silver hit more record highs

Emma Duncan

Managing Editor

Dec 23, 2025 at 4:26 PM

Stocks extended their late-December rally as AI stocks surged, sending the S&P 500 to a record close. The benchmark, alongside the Dow and tech-heavy Nasdaq, marked a fourth-straight daily gain as investors brushed off rate-cut concerns after a particularly strong GDP report. Meanwhile, the Cboe Volatility Index (VIX) closed at its lowest level in one year.

Criticism from Fed Chair candidate Kevin Hassett was also brought forward, where Hassett said rates are not being slashed fast enough. As a reminder, the stock market will close at 1 p.m. ET tomorrow for Christmas Eve and be closed on Thursday for Christmas Day.

Continue reading for more on today's market, including:

History says the S&P 500 is due for Christmas cheer.
Needham makes Reddit stock a 'Top Pick' for 2026.
Plus, FDA's latest approval; climbing defense stock; and 2 rallying bank giants.

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5 Things to Know Today

Defaulted student loan borrowers will be back at risk of wage garnishing by the U.S. government beginning at the start of the year. (CNBC)
An attempt to release the National Guard by the Trump administration to patrol Chicago, IL was rejected by the Supreme Court. (Bloomberg)
Drug stock surges to multi-month high on FDA approval.
Trump tailwinds gave this defense stock a boost.
Two bank stocks closing 2025 on high note.

There were no earnings of note today.

Gold Logs Second Day of Record Highs

Supply fears mounted alongside tensions between the U.S. and Venezuela as well as Russia and Ukraine. January-dated West Texas Intermediate (WTI) crude added 37 cents, to close at $58.38 per barrel.

Silver and gold cannot be stopped, with both safe havens seeing ample end-of-year attention from investors, logging a second day of record highs. February-dated gold settled up 0.8% to close at $4,505.70 per ounce for Friday, earlier hitting a high of $4,530.80.

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