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US stocks wavered after the opening bell on Tuesday, as Wall Street looked to regroup after a tech-led slide to begin the final stretch of 2025.
The tech-heavy Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) slipped by about 0.1%, while the blue chip-heavy Dow Jones Industrial Average (^DJI) shed about 0.2%.
The major Wall Street indexes fell modestly Monday, as Nvidia (NVDA) and Tesla (TSLA) led megacaps lower amid a small rotation out of tech stocks. Traders are reassessing — and perhaps taking profits before the end of the year.
Meanwhile, precious metals rebounded after a brutal day for that trade. Silver (SI=F) futures rose more than 7% Tuesday morning after the metal’s biggest one-day drop in over five years. Gold (GC=F) futures also ticked higher by roughly 1.3%.
Tuesday brings the release of the minutes from the Federal Reserve’s December meeting, at which it cut interest rates for a third straight time but signaled it may pause those cuts in the months ahead. The minutes will serve as one of the final potential market-moving catalysts of 2025, with only a reading on weekly initial jobless claims — on Wednesday morning — remaining on the calendar before the new year.
The central bank’s meeting readout could add fresh insight for investors looking for clues on the Fed’s next move in January, with the divisions that have gripped the central bank in 2025 likely to continue into the new year. Around 84% of bets are on the Fed standing pat at current interest rate levels next month, though traders about equally split on what the committee will do in March.
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US tariff rates are set to end the year north of 15%
US tariff rates are set to end the year averaging higher than 15% — representing a marked increase from where rates sat when the year started — and analysts don’t see much road for relief.
Yahoo Finance’s Ben Werschkul reports:
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US stocks move tick down slightly at the opening bell
US stocks slid slightly in the first minutes of trading on Tuesday as Wall Street looked for a renewed “Santa Claus Rally” after a tech-led slide to begin the final stretch of 2025.
The blue chip-heavy Dow Jones Industrial Average (^DJI) led the way down, shedding roughly 0.2%, while the S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) both lost just under 0.1%.
The major Wall Street indexes fell on Monday, as Big Tech players Nvidia (NVDA) and Tesla (TSLA) dragged megacaps down in a rotation out of the tech sector. Silver (SI=F) futures gained more than 7% Tuesday morning after the metal’s biggest one-day drop in over five years, while gold (GC=F) futures ticked up by roughly 1.3%.
Tuesday will see investors get access to the minutes from the Federal Reserve’s December meeting, at which it cut interest rates for a third straight time but signaled it may pause cuts in the coming months.
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Goldman Sachs co-leads financing on Texas AI power generation project
Goldman Sachs (GS) is co-leading financing on an effort in Texas to build power generation infrastructure for AI data centers, according to Bloomberg.
Shares in Goldman Sachs were mostly flat on the news.
The investment bank, alongside real estate firm Newmark Group (NMRK), is raising equity and credit lines for the project, developed by GridFree AI. The financing will fund a series of natural gas-fired power generators that will be used to operate a series of data centers south of Dallas, known as South Dallas One.
The project has secured land for two out of three planned sites, each intended to hold 1.5 gigawatts’ worth of power generation, according to Bloomberg.
As the need for electricity in the US has boomed, led by the rapid buildout of data centers and other heavily energy-intensive AI infrastructure, the power grid — stagnant for more than a decade — has been overwhelmed. Timelines for new connections are often years long, forcing Big Tech players to find other solutions.
Many AI players have turned to off-grid “behind-the-meter” power, using colocated power generation equipment such as natural gas turbines to provide energy to their developments directly.
GridFree AI is able to provide power infrastructure within two years, according to the firm’s website.
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Stocks moving amid thin trading: Tesla, Ultragenyx, Baidu, Newmont
Here’s a look at some stocks to watch amid thin holiday-week trading:
Tesla (TSLA) stock rose 0.6% after falling 3% on Monday. The electric vehicle maker published analyst estimates for its car deliveries in the fourth quarter, which were softer than expected.
Shares of Ultragenyx (RARE) steadied on Tuesday after the stock cratered by 42% the day before following disappointing phase 3 results for its bone disease drug. The biotech stock was up 0.5% in premarket trading.
Baidu (BIDU) stock rose 5.4% as the Chinese internet and AI company outperformed other Chinese conglomerates such as Alibaba (BABA) and JD.com (JD). Baidu has partnered with Lyft (LYFT) and Uber (UBER) to bring driverless taxis to London beginning in 2026.
Newmont (NEM) shares added 2.3% as the miner tracked rising gold prices, which were up 1.6% on Tuesday morning. Other gold miners, such as Barrick Mining (B), also benefited from higher precious metals prices.
Under Armour (UAA, UA) shares rose 3% following an insider sale of 1,385,850 shares purchased at $4.58 each. The athletic apparel company’s stock is on track to finish the year 38% lower.
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Meta’s $2 billion bet on AI agents
Meta (META) is making a(nother) multibillion-dollar bet on AI, as it is set to acquire Chinese-founded AI startup Manus for over $2 billion.
Meta shares were little changed in premarket Tuesday.
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Silver rebounds after biggest one-day drop in 5 years
Precious metals rebounded Tuesday after silver (SI=F) futures saw their biggest one-day drop in five years, weighing on the overall trade.
Silver was up 5% early Tuesday, while gold (GC=F) futures ticked more than 1% higher.
Our Ines Ferre detailed the metals plunge on Monday, which analysts suggested was mostly technical as traders saw an overstretched market:
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Korea crushes global benchmarks with best stock rally since 1999
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