Stocks closed out the final day of 2025 on a down note, with both stocks and bonds slipping, alongside precious metals like gold and silver. This brought an otherwise strong year for the market to a somewhat anticlimactic close.

The S&P 500's post-Christmas decline continued, trimming the index's gain for 2025 to approximately 16%. The Nasdaq 100 experienced a 0.8% decrease on Wednesday, marking its fourth consecutive day of losses. Despite this end-of-year dip, both indexes still achieved double-digit gains for the past three years, representing their most extended winning streak since 2021.

The late slump suggests a possible cooling of the bull market as it approaches its third anniversary. While the overall market performance remained positive for the year, the recent downturn raises questions about the sustainability of the current growth trajectory. Investors will be closely watching upcoming economic data and corporate earnings reports to gauge the market's direction in early 2026.

Looking ahead, market analysts are divided on whether the bull run can continue at its current pace. Some anticipate a broader market expansion, while others, like Margie Patel, do not expect the stock market to broaden out in 2026. The coming months will be crucial in determining whether the market can maintain its upward momentum or if a correction is on the horizon.