Markets and the Christmas holiday

Markets in the U.S. will pause on Monday to observe the Christmas holiday.

There will be no trading of stocks or Treasuries as the equity and bond markets will be closed.

Futures markets in equities, metals and energy will also be closed.

Futures will begin trading again on Monday at 6 p.m. ET.

FED’S PREFERRED INFLATION GAUGE COOLED IN NOVEMBER

Wall Street ended with broad gains for stocks Friday, but it wasn’t enough to keep the major indexes from a third weekly loss in a row.

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The S&P 500 reversed a 0.7% loss to close 0.6% higher. With one week left of trading in 2022, the benchmark index is down 19.3% for the year.

The Dow Jones Industrial Average rose 0.5% and the Nasdaq composite eked out a 0.2% gain.

FED’S PREFERRED INFLATION GAUGE COOLED IN NOVEMBER

A Commerce Department report showed U.S. consumer spending barely rose in November, while inflation cooled further.

The personal consumption expenditures (PCE) price index, the Fed’s preferred inflation gauge, rose 0.1% last month after climbing 0.4% in October.

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A benchmark survey showed U.S. consumers expect price pressures to moderate notably in the next year, with the one-year inflation outlook dropping to the lowest in 18 months in December.