US STOCKS-Futures subdued in thin post-Christmas trading

(For a Reuters live blog on U.S., UK and European stock markets, click (LIVE/) or type LIVE/ in a news window.) Futures: Dow down 0.11%, S&P 500 off 0.03%, Nasdaq up 0.02% Dec 26 (Reuters) - U.S. stock index futures traded quietly in a light post-Christmas session on Friday, with investors betting on more interest rate cuts and strong corporate earnings to propel markets to fresh highs next year. The benchmark S&P 500 (.SPX) and the blue-chip Dow Jones Industrial Average (.DJI) closed at record highs on Wednesday, capping a broad rally in a holiday-shortened session. By 6:13 a.m. ET on Friday, S&P 500 E-minis (EScv1) slipped 2 points, or 0.03%. Nasdaq 100 E-minis (NQcv1) were up 6 points, or 0.02%, and Dow E-minis (YMcv1) fell 55 points, or 0.11%. Stocks have climbed in recent days after months of intermittent selloffs, as AI-related companies faced pressure amid concerns over soaring valuations and high capital expenditures denting profits. However, data signaling resilience in the U.S. economy, a possibility of a dovish pivot under the new Federal Reserve chair next year and renewed appetite for AI stocks have fueled a market recovery, putting the S&P 500, Dow and Nasdaq (.IXIC) on course for a third straight year of gains. The S&P 500 has risen more than 17% so far in 2025, driven by megacap tech companies for much of the year, but the rally has broadened of late, with investors piling into cyclical sectors such as financials and materials. Traders are waiting to see if the “Santa Claus rally” — a seasonal phenomenon where the S&P 500 posts gains in the last five trading days of the year and the first two in January, according to Stock Trader’s Almanac — can happen this time. That period began on Wednesday and will run through January 5. Nvidia (NVDA.O) shares edged up 0.7% in premarket trading, after the AI chip designer agreed to license chip technology from startup Groq and hire its CEO. Micron Technology (MU.O) rose 2%, adding to its near 22% surge so far this month, driven by strong earnings forecasts. Biohaven (BHVN.N) slumped 13.4% after its experimental depression drug did not meet the main goal of a mid-stage trial, adding to a string of setbacks for the company this year. Coupang rose 6.2% after the online retailer said all the customer information leaked from the South Korean company has been deleted by the suspect. U.S.-listed shares of precious metal miners such as First Majestic (AG.N) , Coeur Mining (CDE.N) and Endeavour Silver (EXK.N) rose between 2.8% and 4.4%, as silver (XAG=) and gold (XAU=) prices smashed fresh records again. (GOL/)