Financial Markets                      12/30 15:20

   

   NEW YORK (AP) -- Stocks fell slightly on Wall Street as trading for 2025 
nudges closer to the finish line. The S&P 500 slipped 0.1% Tuesday while the 
Dow Jones Industrial Average and Nasdaq dipped 0.2%. Even with three straight 
days of small losses, the S&P 500 is on track for an annual gain of more than 
17%. The more notable action was again in the commodities markets. Gold, silver 
and copper all resumed their ascent after steep declines a day earlier. The 
price of gold rose 1% and copper gained nearly 4%. Silver posted the sharpest 
increase with a jump of 10.6%.

   THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.

   NEW YORK (AP) -- Stocks wavered in afternoon trading on Wall Street Tuesday 
as 2025 nudges closer to the finish line.

   The S&P 500 was mostly unchanged. The benchmark index is still on track for 
a gain of more than 17% for the year.

   The Dow Jones Industrial Average fell 78 points, or 0.2%, as of 2:55 p.m. 
Eastern. The Nasdaq composite fell 0.1%.

   The biggest weights on the market remained technology companies, especially 
those focused on advancements for artificial intelligence.

   Nvidia and Apple wobbled between small losses and breaking even. Both 
companies have outsized values that have a greater overall impact on the 
market's broader direction.

   On the winning side, Facebook parent Meta Platforms rose 1.3%. The company 
is buying artificial intelligence startup Manus as it continues an aggressive 
push to amp up AI offerings across its platforms.

   Markets were mixed in Asia and higher in Europe.

   With just two trading days left before the year ends, most big investors 
have closed out their positions and volume has been thin. U.S. markets will be 
closed on Thursday for New Year's day.

   The more notable action was again in the commodities markets. Gold, silver 
and copper all resumed their ascent after steep declines a day earlier.

   The price of gold rose 0.7% and silver prices gained 9.2% after slumping 
Monday when the Chicago Mercantile Exchange, one of the largest trading floors 
for commodities, asked traders to put up more cash to make bets on precious 
metals. Prices for both metals have surged in 2025 on a mix of economic worries 
and supply deficits.

   Copper rose 3.6% and is up more 40% for the year on strong demand. The base 
metal is critical to global energy infrastructure, and demand is expected to 
keep growing as the development of artificial intelligence technology puts more 
of a strain on data centers and the energy grid.

   Crude oil prices were relatively steady. The price of U.S. crude oil fell 
0.1%. The price of Brent crude, the international standard, rose 0.1%.

   Treasury yields mostly rose in the bond market. The yield on the 10-year 
Treasury rose to 4.13% from 4.11% late Monday. The yield on the two-year 
Treasury, which moves more closely with expectations for what the Federal 
Reserve will do, held steady at 3.45% from late Monday.

   Overall, Treasury yields have fallen significantly through the year, partly 
because of the market's expectations for a shift in interest rate policy at the 
Fed. The central bank cut interest rates three times late in 2025, most 
recently at its meeting earlier in December.

   The central bank has been dealing with a more complex economic picture. 
Consumer confidence has been weakening throughout the year as inflation 
squeezes consumers and businesses. The continued impact of a wide-ranging 
U.S.-led trade war threatens to add more fuel to inflation.

   Inflation remains stubbornly high while the jobs market slows down. The Fed 
can cut interest rates to help the economy weather a slower jobs market. But, 
that could add more fuel to inflation that is still solidly above the Fed's 2% 
target. Hotter inflation could stunt economic growth.

   The Fed has signaled more caution moving forward. Minutes from its December 
meeting reflect the divisions within the central bank as it deals with 
uncertainty about the threats facing the economy.

   Wall Street is betting that the Fed will hold interest rates steady at its 
next meeting in January.

   ___

   Elaine Kurtenbach contributed to this report.

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