Stock Market Today: Dow, S&P 500, Nasdaq Set to Open Down; Oil Prices Rise After U.S., Ukraine Talks; Silver Futures Fall; Nvidia, Tesla, Palantir, Micron and More Movers

U.S. stock futures were set to start the week in the red, putting the so-called Santa Claus rally at risk. Silver prices were volatile, hitting new highs before giving back some gains.

Dow Jones Industrial Average futures were down 27 points, or 0.1%. S&P 500 futures were falling 0.2% and Nasdaq 100 futures were losing 0.4%. The S&P 500 is up 0.2% since the Santa Claus rally period — which includes the final five trading sessions of the year and the first two of the new year — began Wednesday.

The yield on the benchmark 10-year Treasury note edged lower to 4.115% early on Monday.

The U.S. stock and bond markets will be closed Thursday for the New Year’s holiday. Stock trading will have a full session Wednesday, New Year’s Eve, but bond trading will end early, at 2 p.m. Eastern.

However, the focus of traders might be on the commodities markets, where silver is the headline act. Silver prices were down 2.5% at around $75 an ounce early Monday, after a rally in the precious metal briefly pushed prices above $80. Silver’s gains have outpaced a similar surge in gold in 2025, which has also hit a series of record highs.

“The move appears to reflect more than a typical safe-haven bid; it represents a strategic response by institutions and investors to rising geopolitical instability, a slowing U.S. economy, ongoing trade frictions, and the accelerating trend toward de-dollarization,” said Ramnivas Mundada, director of economic research at GlobalData, in a recent research note.