NEW YORK, New York - U.S. stock markets finished Friday's shortened trading session mixed, with modest losses in blue-chip stocks offset by marginal gains in technology shares, as investors weighed economic signals and recent market momentum.

The final bell Friday rang at 1:00pm.

"People are taking profits here and there, or buying on lows, but there's not a lot of information. You're not getting corporate profit results. You're not getting a lot of economic data, so it's probably just more technicals and positioning heading into here," Tom Hainlin, national investment strategist at U.S. Bank Asset Management told CNBC Friday.

"That just gives more confidence heading into 2026 that it's not just tech here and everybody behind them. It's the market benefiting from the tax bill that was signed in July, the rate cuts that came in the fourth quarter of this year," he continued. "Heading into 2026, those are some tailwinds."

Hainlin was not the only one to call for caution in the new year. "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," Brian Jacobsen, chief economist at Annex Wealth Management. told Reuters news agency on Friday.

The Standard and Poor's 500 edged lower, closing Friday at 6,926.62, down 5.43 points, or 0.08 percent. Trading volumes were moderate, reflecting a cautious end to the week following recent gains.

The Dow Jones Industrial Average recorded a steeper decline, falling 101.74 points, or 0.21 percent, to close at 48,629.42. Losses in several industrial and financial stocks weighed on the index during the session.

Meanwhile, the NASDAQ Composite finished virtually unchanged, inching up 1.17 points, or 0.00 percent, to 23,614.47. Gains in select technology names helped stabilise the index despite broader market uncertainty.

Major Currencies End Mixed as Dollar Strength Weighs on Euro, Sterling

Major currencies finished Friday's trading session on a mixed footing, with the U.S. dollar posting gains against several peers while easing slightly against commodity-linked currencies.

The euro weakened against the greenback, with EUR/USD closing at 1.1769, down 0.08 percent on the day, as the dollar found support from steady economic sentiment.

The U.S. dollar also advanced against the Japanese yen, with USD/JPY rising 0.41 percent to settle at 156.60, reflecting continued demand for the dollar amid yield differentials.

Against the Canadian dollar, the dollar edged marginally lower. USD/CAD last traded at 1.3668, down 0.02 percent, with modest movements seen despite ongoing sensitivity to energy price fluctuations.

The British pound lost ground against the greenback, with GBP/USD closing at 1.3492, down 0.07 percent, as traders remained cautious amid mixed economic signals.

The dollar strengthened against the Swiss franc, with USD/CHF gaining 0.22 percent to end the day at 0.7897, underscoring its appeal as a yield-bearing currency.

In contrast, the Australian dollar posted a modest gain. AUD/USD closed at 0.6709, up 0.08 percent, supported by firmer risk sentiment.

The New Zealand dollar underperformed, slipping 0.10 percent to 0.5829 against the US dollar, rounding out a subdued end to the week for the currency

Global Stock Markets Mostly Closed

Most global stock markets were closed on Friday for the Christmas holidays. These included in the UK, Germany, Canada, Australia, New Zealand and Hong Kong. Middle East markets were also closed and will reopen on Monday.

In Japan's the Nikkei 225 rose 0.68 percent to close at 50,750.39, while the Topix finished Friday 0.15 percent high at to 3,423.06.

South Korea's Kospi index advanced 0.51 percent to close at 4,129.68, while the small-cap Kosdaq gained 0.49 percent to 919.67. I

In China the CSI 300 rose 0.32 percent to 4,657.24.

India's Nifty 50 sled 0.41 percent, while the BSE Sensex retreated 0.45 percent.

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

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