Closing Bell: Markets Slide Again as Santa Claus Rally Fails to Materialize

Key Points

• The Santa Claus rally failed to materialize for a third straight year, with the S&P 500 (-0.14%), Nasdaq-100 (-0.25%), and Russell 2000 (-0.76%) all closing lower.
• Meta Platforms is reportedly in talks to acquire Chinese AI startup Manus for $2–$3 billion.
• Silver surged more than 8% after a volatile pullback, now up roughly 155% YTD

Markets closed lower once again as the much-anticipated Santa Claus rally continues to disappoint for the third straight year. The S&P 500 (SPX) fell 0.14%, while the Nasdaq-100 (NDX) declined 0.25%. Small-cap stocks also moved lower, with the Russell 2000 (RUT) finishing down 0.76%. Energy, Communication Services, and Utilities were the leading sectors for the session while Consumer Discretionary and Financials were the weakest-performing sectors.

Meta Platforms to Acquire Chinese AI Startup Manus

Meta Platforms (META) is reportedly set to acquire Chinese AI startup Manus for between $2 billion and $3 billion, according to multiple news reports. Manus gained attention earlier this year after claiming it had developed one of the first artificial general intelligence (AGI) agents capable of completing tasks and making autonomous decisions.

Silver Rebounds After Sharp Pullback

Silver (/SI) rebounded sharply, closing up more than 8% after Monday’s volatile session that saw a 15% intraday swing following new all-time highs. The metal is now up roughly 155% year-to-date, driven by increased central bank demand, expectations for slowing mining production in 2026, and growing concerns over potential Chinese export restrictions that could tighten global supply.

Key Market Events for Tomorrow

• 08:30 AM ET: Unemployment Claims
• 10:30 AM ET: Crude Oil Inventories
• 12:00 PM ET: Natural Gas Storage

Notable Earnings for Tomorrow

• Premarket: N/A
• Postmarket: N/A

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