CNBC Business News Update - Market Close: Stocks Lower, Major Averages Notch A Winning Year, Warren Buffett Steps Down At 95 12/31/25

Episode Date: December 31, 2025

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I'm Jessica Eddinger, CNBC. A winning 2025 is in the books for the major stock averages on Wall Street. Even with a losing final trading day of the year on Wednesday, here are your full year performance finals. The Dow up 13% for 2025. The S&P 500 index was up 16%, and the NASDAQ gained 20% for the year. So what were the winners and losers in the Dow for 2025? Here's CNBC's Frank Holland. The best and the worst performers on the Dow this year. Take a look. You see Caterpillar up just about 58, almost 59%.

Goldman up almost 54, 55%. Johnson and Johnson up over 42, almost 43%. Invidia up about 40% rounding out the bunch. And then you have a look at the worst performers in the Dow this year as well. United Health, the biggest laggard, pulling back more than 34%, followed by Salesforce pulling back more than 20. Nike P&G and Home Depot, rounding out this group, Home Depot, down just about 11%.

No Santa Claus rally for stocks yet. Traditionally, the rally period is the last five trading days of one year and the first two trading days of the next. So investors have Friday and Monday to see if the markets can lift up into a gain for that period. I'm not going to panic if Santa doesn't come to Wall Street. I think it's still in the cards and we could see it. We're just going to have to see, you know, people tend to go on vacations around New Year's, New Year's Eve. So we may not see

a volume, trading volume, pick up until Friday and Monday, Tuesday next week, and that'll make or break it. And G-squared's Victoria Green says it's going to be a rocky year ahead for stocks. Buckle up, Buttercup. I think 20206 is going to be a little bit harder. I think you're going to see a lot more volatility. Historically, the midterm year, the second year of the

presidential cycle gets a little bit rocky, right? A little bit harder. Some of this easy money has been made. Meantime, Piper Sandler's Craig Johnson tells CNBC, you better enjoy that 16% gain for 2025. for the S&P 500 index, because it could return much less in 2026. What our viewpoint is for 2026 coming up is it's going to be an okay year,

but I'm only looking for about 5% upside for next year on the S&P 500. We're probably going to have a week, second, and baby third quarter, and then sort of finish on a high note after you get through the midterm elections. For 2025, gold sword 64% silver up 140. 41%. Both of them had their best yearly performance since 1979. And look at copper. Up 41% for 2025. Its best yearly performance since 2009. What commodity went down in 25? Oil. It was down 20% its biggest annual drop in five years. Restaurant chains had a tough 2025. BTIG called it a, quote, humbling year for the restaurant sector. and that's really putting it mildly. Fast, casual, and quick service restaurants really took the brunt of losses this year.

Kava, Shake Shack, Chipotle, Blumen Brands, all seeing major pullbacks down double digits year-to-date. Sweet Green, though, the biggest laggard, it was down nearly 80% as younger consumers tightened their spending. Meanwhile, the winners for the year, fast food names, McDonald's, Young Brands, QSR, and Brinker, Chili's parent company all fared best. CNBC's Kate Rogers. On Friday's watch list, we do have a full day of trading. On Friday, no earnings reports, but we do get manufacturing PMIs for data. And next week, we'll have a jobs Friday on January 9th, the December Jobs Report. Jessica Eddinger, CNBC. You come to my show and you learn how to do stocks.

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