The benchmark S&P 500 hit its latest record, setting up Wall Street to ride into the Christmas holiday on a high note.

After Thursday, the stock market schedule will be business as usual until the markets close early again on New Year's Eve and remain closed Thursday, Jan. 1, 2026. Here's what to know.

The S&P 500, the Dow and the Nasdaq are all within touching distance of record highs, having surged through 2025, with U.S. president Donald Trump predicing a 2026 “boom.” However, as traders brace for the "biggest merger in history, the $3 trillion bitcoin and crypto market could be flashing a warning sign to stocks.

Stovall noted that 2026 is a mid-term election year and that, historically, the worst drawdowns occur then, with the average decline being 18%. He won’t be surprised to see that kind of volatility again, but doesn’t expect the decline to stick.

Wall Street analysts expect another strong year in stocks in 2026, propelled by continued AI sector gains and additional Fed interest-rate cuts.

The benchmark S&P 500 hit its latest record, setting up Wall Street to ride into the Christmas holiday on a high note.

The U.S. stock market is closing the books on a third straight year of double-digit percentage gains. A fourth stellar year in 2026 may be a tall order, requiring strong earnings, a dovish Federal Reserve and strong artificial intelligence spending.

On Dec. 23, 2025, Plug Power fell further as new green hydrogen milestones failed to ease doubts over funding and execution.