Stock market today: Dow, S&P 500, Nasdaq sputter with Wall Street set to put a bow on roller-coaster 2025

Stock Market Overview - US stocks experienced a decline on Wednesday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all losing around 0.4%, marking their fourth consecutive day of losses [1] - Despite the recent losses, the S&P 500 is up over 17% for the year, the Nasdaq Composite has risen over 20%, and the Dow is up over 13%, indicating a strong performance throughout 2025 [2][3] Economic Indicators - Initial jobless claims for the week ended December 27 fell to 199,000, down from a revised 215,000, surprising economists who had predicted an increase [16][18] - Continuing claims also decreased to 1.86 million from 1.91 million, further indicating a stronger labor market than expected [18][20] Oil Market Dynamics - Oil prices are on track for their largest annual loss since the pandemic began, with Brent crude down approximately 17% and WTI crude down about 18% year-to-date [9][10] - OPEC increased monthly production by 2.9 million barrels per day from April to December, contributing to the oversupply in the market [10] - The International Energy Agency forecasts an oversupply of 3.8 million barrels per day for 2026, with price targets for Brent crude set in the $50s, potentially dropping into the $30s or $40s if production strategies do not change [11] Agricultural Commodities - Sugar prices are expected to see their largest annual decline since 2017, dropping around 21% due to high global production levels [22] - Other agricultural commodities like cocoa, potatoes, and rice have also experienced significant price declines, with cocoa futures down 48% and rice down 32% [24] Currency Market - The US dollar is set to finish its weakest year since 2017, dropping over 9% year-to-date, influenced by President Trump's tariff agenda and a dovish Federal Reserve outlook [25] - In contrast, the euro and pound have gained 13% and 7% respectively, marking their largest yearly gains in eight years [26]