But the holiday-shortened week will still give Wall Street a chance to parse through the Fed's expectations for next year's interest rate decisions. Central bankers now predict a shallower rate-cutting path in 2025.

Wall Street is taking its cues from the Federal Reserve, forecasting short-term US Treasury yields to fall in 2025 despite the looming threat of President-elect Donald Trump’s trade and tax policies on the bond market.

Wall Street's top three indexes ended nearly flat after a steep decline Wednesday based on the Fed's 2025 outlook.

Stocks shook off a choppy start to finish higher Monday, as Wall Street kicked off a holiday-shortened week. The S&P 500 ended 0.7% higher after having been down 0.5% in the early going. The Dow Jones Industrial Average also recovered from an early slide to eke out a 0.2% gain. The tech-heavy Nasdaq composite rose 1%.

U.S. stocks slumped Wednesday after the Federal Reserve hinted it may deliver fewer shots of adrenaline to the economy next year than it had earlier thought. The

U.S. stocks closed down on Tuesday and crude prices fell as investors parsed economic data and girded themselves for a series of central bank decisions, including an expected rate cut from the Federal Reserve.

Despite the looming uncertainty of President-elect Donald Trump’s trade and tax policies, Wall Street is largely aligning with the Federal Reserve’s outlook, anticipating a decline in short-term US Treasury yields in 2025.