March S&P 500 E-Mini futures are down -0.02% ahead of the Fed’s December meeting minutes. Wall Street ended in the red, with Tesla and Nvidia leading losses. Gold mining stocks slumped. Ultragenyx Pharmaceutical plummeted over -42%. DigitalBridge Group surged more than +9% after a deal with SoftBank Group valued at $4 billion.

U.S. pending home sales climbed +3.3% m/m in November, beating expectations. Market momentum will likely hinge on tech performance for another year of double-digit gains. Fed meeting minutes will reveal policymakers’ views on rate cuts. U.S. rate futures predict at least two cuts in 2026, with the first not expected until April or June.

Economic data releases include the U.S. S&P/CS HPI Composite and the Chicago PMI today. Spain’s annual inflation cooled in December. European markets are closing out the year on a high note. Fresnillo Plc rose over +4% after Citi raised its price target. Spain’s CPI data rose +2.9% y/y, surpassing expectations.

Asian markets closed mixed, with China’s Shanghai Composite Index flat and Japan’s Nikkei 225 down -0.37%. China’s Shanghai Composite Index snapped a nine-day winning streak. Japan’s Nikkei 225 closed lower on the final trading day of 2025. Japanese markets will be closed for the New Year holidays. Memory chipmaker Kioxia Holdings saw significant gains this year. Tesla, Gold mining stocks, Terra Innovatum Global N.V., and BHP Group were pre-market movers. Earnings spotlight includes Immersion Corp, RCI Hospitality, and Brookmount Explorations Inc.

Read more at Yahoo Finance: S&P Futures Tread Water Ahead of FOMC Meeting Minutes