The final full trading week of 2025 was a strange mix of calm and historic. In a holiday‑thinned market, the Dow Jones Industrial Average and S&P 500 notched fresh all‑time closing highs again, while the Nasdaq Composite crept higher on renewed AI enthusiasm. Volumes were light, macro news was limited, and much of the move felt like position‑squaring and year‑end window dressing rather than a conviction‑driven breakout. Still, the scoreboard is clear: U.S. equities are ending 2025 near their best levels ever, with investors now openly debating whether the S&P 500 can cross the 7,000 mark in early 2026.
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