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GLOBAL MARKETS-Equities rise after strong US data, yen firms on currency warnings

ReutersDec 23, 2025 10:07 PM
  • Wall Street gains with S&P 500 notching record closing high
  • STOXX stock index hit record close in Europe
  • Yen gains with traders on alert to intervention risk
  • Gold, silver, platinum hit records

By Caroline Valetkevitch and Sinéad Carew

- Major stock indexes advanced on Tuesday after stronger-than-expected U.S. economic data, while the yen gained on the dollar after Tokyo signaled its readiness to support the battered currency.

The U.S. benchmark S&P 500 notched a record closing high with strength in growth stocks. Earlier, the pan-European STOXX 600 index also registered a record closing high on gains in the healthcare sector, after heavyweight Novo Nordisk secured U.S. approval of its weight-loss pill.

In precious metals, silver, gold and platinum set new records.

Data showed the U.S. economy grew faster than expected in the third quarter, driven by robust consumer spending. Early estimates showed gross domestic product increased at a 4.3% annualized rate last quarter, far above economists' forecast for a rise at a 3.3% pace, according to a Reuters poll.

"We're still in this period of playing catch-up with economic data and GDP is dated ... But it's showing strength in the economy, and strength that's above expectations," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.

U.S. economic releases have been delayed by a record federal government shutdown.

On Wall Street, the S&P 500 .SPX rose 31.30 points, or 0.46%, to 6,909.79, surpassing its December 11 close for a fresh record. The S&P 500 growth index .IGX finished up 0.8%.

The Dow Jones Industrial Average .DJI rose 79.73 points, or 0.16%, to 48,442.41, and the Nasdaq Composite .IXIC added 133.02 points, or 0.57%, to 23,561.84.

MSCI's gauge of stocks across the globe .MIWD00000PUS gained 4.61 points, or 0.45%, to 1,020.10, which would also be a record close.

Earlier, the pan-European STOXX 600 .STOXX index ended up 0.34%.

Novo Nordisk's NOVOb.CO, NVO.N U.S.-listed shares finished up 7.3% after the U.S. Food and Drug Administration approved its weight-loss pill, giving the Danish drugmaker a competitive edge in the fast-evolving obesity treatment market.

U.S. government bonds were a mixed picture.

The yield on benchmark U.S. 10-year notes US10YT=RR fell 0.4 basis points to 4.167%, from 4.171% late on Monday and the 30-year bond US30YT=RR yield fell 1.8 basis points to 4.8252%.

But the 2-year note US2YT=RR yield, which typically moves in step with interest rate expectations for the Federal Reserve, rose 2.9 basis points to 3.532%, from 3.503% late on Monday.

In currencies, the yen gained against the dollar as investors weighed the odds of an imminent intervention after Finance Minister Satsuki Katayama said Japan has a free hand in dealing with excessive moves in the yen, the strongest warning so far about Tokyo's readiness to intervene in the market to arrest sharp declines in the currency. The BOJ raised rates at its December policy meeting on Friday, as expected.

Against the Japanese yen JPY=, the dollar weakened 0.47% to 156.31.

The dollar index =USD, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.29% to 97.96. The euro EUR= was up 0.25% at $1.1789.

In precious metals, silver extended its record rally and blew past the $70 an ounce mark for the first time, while gold and platinum also touched historic highs.

Spot silver XAG= was up 3.49% at $71.43 while spot gold XAU= rose 1.02% to $4,490.93 an ounce and spot platinum was up about 7% at $2,269.25.

In energy markets, oil prices ended Tuesday's session higher as potential sales of Venezuelan crude seized by the United States weighed and investors assessed stronger-than-expected U.S. economic data.

U.S. crude CLc1 settled up 0.64%, or 37 cents at $58.38 a barrel, while Brent LCOc1 settled at $62.38 per barrel, up 0.5%, or 31 cents.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
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