Dow, S&P 500 and Nasdaq futures remain flat ahead of Christmas.

• Stock market today: S&P 500 renews all-time record.
• Dow and Nasdaq futures flat on Christmas Eve.
• Gold hits record high amid tensions in Venezuela and rising interest rates.

US stock futures were trading close to stability On Wednesday morning, after the S&P 500 approached another recent record and maintained the positive end-of-year mood on Wall Street, investors watched the opening with little appetite for major moves. With the session shortened by Christmas Eve and the market closed on Thursday, investors were observing the opening with little appetite for significant movements.

Contracts linked to the Dow Jones, S&P 500, and Nasdaq remained slightly below the stability line, reflecting a trading session that tends to have lower liquidity. Even so, the backdrop remained favorable for the so-called Christmas rally, following a series of gains that led the S&P 500 to surpass the 6.900-point mark and update its all-time high.

The recent rally was driven primarily by technology companies, even with strong economic data reducing some bets on interest rate cuts in the short term. An initial government estimate pointed to GDP growth of 4,3% in the third quarter, above expectations, with consumption sustaining the pace during the Northern Hemisphere summer.

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At the same time, economists note that the strength of growth may lose traction in the fourth quarter, amid shutdowns and signs of weakening confidence. More recent indicators suggest that consumers remain uncomfortable with the economy, with confidence falling to its lowest level since the implementation of tariffs by current US President Donald Trump in April.

This set of information has led the market to lower the chances of an interest rate cut by the Federal Reserve as early as January, with just over 13% of investors pricing in this possibility. Most, however, are still working with the expectation of two cuts by the end of next year, amidst internal debates at the central bank, while attention is growing on the leadership change expected in the middle of the year, when a new chairman is expected to replace Jerome Powell.

Trump also commented again on expectations regarding interest rates and the market. "I want a market like we haven't seen in decades," he wrote on social media, "a market that goes up on good news and down on bad news, as it should be and as it used to be."

In addition to stocks, precious metals also stood out. Gold hit a new record, above US$4.500 per ounce, driven by increased tensions in Venezuela and the perception that interest rate cuts in the US are still possible. Silver and platinum also reached all-time highs.

On Wednesday's calendar, the data point with the greatest potential to affect prices is the weekly update on unemployment claims, which has shown volatility in recent releases.