Stocks Soar to Record Highs as Gold Shines Bright

The S&P 500 and Dow Jones reached record highs as gold soared, shaping a strong year for stocks and precious metals alike. Despite unexpected jobless claims, analysts predict interest-rate cuts. Global markets reacted favorably, with U.S. Treasury yields easing and currency traders keeping an eye on the yen.

In a surge of financial activity, the S&P 500 and the Dow Jones Industrial Average reached record highs on Wednesday, accompanied by a notable performance from gold just below the $4,500 mark during a subdued Christmas Eve trading session.

Despite a dip in jobless claims, revealing mixed signals about the labor market's health, experts forecast further interest rate cuts from the U.S. Federal Reserve. Meanwhile, global markets ended the day on a high note, with European shares enjoying their strongest performance since 2021.

Currency traders remain focused on the yen, whilst crude oil prices gave up earlier gains. As U.S. Treasury yields eased, the financial landscape suggests trends to watch in precious metals and possible rate cuts in the coming year.

(With inputs from agencies.)