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 and the blue-chip Dow Jones Industrial Average 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 slipped 2 points, or 0.03%. Nasdaq 100 E-minis were up 6 points, or 0.02%, and Dow E-minis 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 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 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%, adding to its near 22% surge so far this month, driven by strong earnings forecasts.

Biohaven 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, Coeur Mining and Endeavour Silver rose between 2.8% and 4.4%, as silver and ⁠gold prices smashed fresh records again.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Shilpi Majumdar)