2025收官日，美股指期货集体下挫，科技股承压，金银齐跌，现货白银跌近6%，原油小幅走高

Market Overview - On the last trading day of 2025, US stock index futures collectively declined, with technology stocks under pressure in pre-market trading [1] - The market experienced light trading due to holiday factors, with European stocks showing mixed results [2] - Major global exchanges shortened trading hours, with Japan, South Korea, and Germany closed, and France and the UK closing early [1] Key Market Movements - The Dow futures fell by 0.15%, S&P 500 futures dropped by 0.26%, and Nasdaq futures decreased by nearly 0.4% [1][4] - The 10-year US Treasury yield decreased by 1 basis point to 4.11% [3] - The US dollar remained stable, while the euro and yen both fell by 0.1% against the dollar [3] Commodity and Cryptocurrency Performance - Spot silver plummeted over 5.4% to $72 per ounce, with a significant drop of nearly 7% at one point [3][4] - Spot gold decreased by 0.2% to $4,329 per ounce, while WTI crude oil rose by 0.3% to $58.1 per barrel [3] - Bitcoin increased by 0.3% to $88,476.81, and Ethereum rose by 0.2% to $2,971.16 [3] Analyst Insights - Market dynamics are influenced more by divergence than direction as the year-end approaches, which has somewhat suppressed risk appetite [1] - Investment portfolio adjustments may be occurring as fund managers seek to align their holdings with benchmark indices after a strong year [3]