<div id="readability-page-1"><div><div><div>Key points:<ul><li>Biohaven falls after depression drug fails mid-stage trial</li><li>Futures: Dow down 0.13%, S&amp;P 500 off 0.05%, Nasdaq up 0.03%</li><li>All three main indexes set for double-digit yearly gains</li></ul></div>By Sruthi Shankar and Shashwat Chauhan Wall Street indexes were poised to open nearly flat in light post-Christmas trading on Friday, while investors bet that more interest rate cuts and strong corporate earnings would propel markets to fresh highs next year.The benchmark S&amp;P 500 and the blue-chip Dow Jones Industrial Average closed at record highs on Wednesday, capping a broad rally in a holiday-shortened session.Stocks have climbed in recent days after months of intermittent selloff, as AI-related companies faced pressure amid concerns over soaring valuations and high capital expenditures denting profits.However, signs of resilience in the U.S. economy, the prospect of a dovish pivot under a new Federal Reserve chair next year and renewed appetite for AI stocks have fueled a market recovery, putting the S&amp;P 500, Dow and Nasdaq on course for a third straight year of gains.&#34;2026 is likely going to be a 'prove-it' year for markets. Companies must deliver tangible productivity and margin gains from AI and other investments,&#34; said Brian Jacobsen, chief economist at Annex Wealth Management.Analysts expect profit for S&amp;P 500 companies to increase 15.5% in 2026, an improvement from a 13.2% growth forecast for 2025, according to data compiled by LSEG.At 08:13 a.m. ET, Dow E-minis (YMcv1) were down 66 points, or 0.13%, S&amp;P 500 E-minis were down 3.5 points, or 0.05%, and Nasdaq 100 E-minis were up 9 points, or 0.03%.The S&amp;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 &#34;Santa Claus rally&#34; — a seasonal phenomenon where the S&amp;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 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 rose 2.1%, adding to its near 22% surge so far this month, driven by strong earnings forecasts.Biohaven slumped almost 13% 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 5.8% 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 , Coeur Mining and Endeavour Silver rose between 2.5% and 3.1%, as silver and gold prices smashed fresh records again. </div></div></div>

Wall Street is set for a flat open post-Christmas, with Dow futures down 0.13%, S&P 500 off 0.05%, and Nasdaq up 0.03%. Biohaven's stock fell nearly 13% after a failed drug trial, while Nvidia and Micron saw gains. Analysts predict a strong 2026 for S&P 500 companies, with a 15.5% profit increase. The market anticipates a 'Santa Claus rally' and a dovish Federal Reserve pivot next year.

- Wall Street indexes are expected to open nearly flat following positive trends in the U.S. economy and strong corporate earnings projections for 2026, with analysts forecasting a 15.5% profit growth for S&P 500 companies.  
- Biohaven's shares fell nearly 13% after its depression drug failed a mid-stage trial, while Nvidia and Micron Technology saw gains due to favorable developments in their sectors.  
- The S&P 500 has climbed over 17% in 2025, with investors optimistic about the potential for a "Santa Claus rally" during the holiday trading period.

Wall St set for flat open in post-Christmas session