Futures for the S&P 500 are down slightly as trading resumes after Christmas, with subdued activity expected. Higher bond yields are impacting futures, with the 10-year T-note yield rising to 4.15%. Wall Street closed higher on Wednesday, with the S&P 500 reaching a new record. Nike and chip stocks performed well, while Dynavax surged after an acquisition deal. Initial jobless claims fell to 214K. Traders predict two rate cuts next year. China imposed sanctions on U.S. defense firms. In Asia, Shanghai Composite and Nikkei 225 closed higher, with gold mining stocks in focus. Japan’s core CPI rose 2.3%. Nvidia and chip stocks are up in pre-market trading. Gold mining stocks also advanced. Coupang climbed after a data breach. Biohaven plunged after a failed study on a depression treatment. No major earnings today.

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