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Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
U.S. stock futures moved modestly higher on Thursday evening following the Christmas holiday, as subdued activity and thin trading volumes continued to shape market behavior ahead of a shortened New Year’s trading week. With many global markets closed or operating at reduced capacity, investors largely stayed on the sidelines, keeping futures within a narrow range.
S&P 500 futures rose about 0.1% to hover near 6,987 points, while Nasdaq 100 futures also climbed roughly 0.1% to around 25,908 points. Dow Jones futures followed the same trend, gaining 0.1% to trade close to 49,057 points. U.S. equity markets were closed on Thursday for Christmas Day after an early close on Wednesday, a schedule that typically results in lighter volumes and muted price action.
Market participants noted that many institutional trading desks remain lightly staffed, and several major markets across Europe and Asia are also observing holidays. This combination has reduced liquidity and limited volatility, contributing to the cautious tone in U.S. stock index futures. Despite the quiet trading environment, broader sentiment remains constructive.
Earlier in the week, the S&P 500 notched a fresh record closing high, supported by optimism surrounding robust U.S. economic data. Third-quarter gross domestic product growth came in at an annualized rate of 4.3%, the fastest pace in two years, reinforcing confidence in the resilience of the U.S. economy. Strong economic growth has helped offset concerns about tighter financial conditions and supported risk appetite across equities.
Additional tailwinds have come from renewed enthusiasm for technology and artificial intelligence-related stocks, which continue to attract investor interest. Speculation that the Federal Reserve could begin cutting interest rates in 2026 has also underpinned equity sentiment, particularly for growth-oriented sectors.
As markets prepare to return to a full trading schedule on Friday, investors will keep an eye on incoming economic data, year-end positioning, and seasonal patterns. Historically light volumes and the possibility of a late-December “Santa Claus rally” may continue to influence price movements as the year draws to a close.
