NEW YORK (AP) — Stocks moved slightly lower in midday Friday trading as investors returned from the Christmas holiday. Trading is expected to be light.
The S&P 500 index was down 0.1% as of 12:15 p.m. ET, the Dow Jones Industrial Average was down 0.2%, and the Nasdaq composite was down less than 0.1%.
Institutional investors are largely closed out of their positions for the year. The S&P 500 has climbed nearly 18% this year, helped by the deregulatory policies of the Trump administration as well as investor optimism about the future of artificial intelligence.
Gold and silver prices continued to climb, with silver rising more than 7% to $76.88 an ounce. Gold was up 1.4%. Both precious metals have risen this year as investors have looked for safe havens outside of stocks and bonds, and silver has also risen sharply due supply constraints. Miners like Freeport-McMoRan were among the biggest gainers Friday.
Earlier surges in gold prices partly reflected worries during the U.S. government shutdown. Expectations that the U.S. Federal Reserve will cut interest rates further in the new year, weakening the dollar against other currencies, have also fueled buying of gold.
Shares of Target rose 2% after The Financial Times reported that an activist investor is taking a stake in the retail giant.
U.S. crude oil fell nearly 2% and Brent crude fell more than 1%.
Markets in Hong Kong, Australia, New Zealand and Indonesia were closed. Most European markets remained closed Friday.
Dealers talk near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Friday, Dec. 26, 2025. (AP Photo/Lee Jin-man)
A dealer walks past near the screen showing the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Friday, Dec. 26, 2025. (AP Photo/Lee Jin-man)
A dealer watches computer monitors at a dealing room of Hana Bank in Seoul, South Korea, Friday, Dec. 26, 2025. (AP Photo/Lee Jin-man)
RABAT, Morocco (AP) — Mohamed Salah scored again on Friday as Egypt's 10 men held on to beat South Africa 1-0 to all but reach the knockout stages of the Africa Cup of Nations.
Salah, who secured the Pharaohs’ opening win with a stoppage-time strike against Zimbabwe on Monday, did it again in Agadir and his penalty before the break is almost certain to secure progression from Group B.
But South Africa should arguably have been given a penalty in stoppage time when Yasser Ibrahim blocked a shot with his arm. After a long delay, the referee decided against awarding the spot kick after consulting video replays and Ibrahim sank to the ground in relief.
Salah converted his penalty after he was struck in the face by the hand of the retreating South Africa forward Lyle Foster. Salah showed no ill effects from the blow and sent his shot straight down the middle while goalkeeper Ronwen Williams dived to his right.
There was still time before the break for Egypt defender Mohamed Hany to get sent off, after receiving a second yellow card for a foul on Teboho Mokoena.
Goalkeeper Mohamed El Shenawy was Egypt’s key player in the second half.
Earlier, Angola and Zimbabwe drew 1-1 in the other group game, a result that suited neither side after opening losses.
Egypt leads with 6 points from two games followed by South Africa on 3. Angola and Zimbabwe have a point each. The top two progress from each group, along with the best third-place finishers.
Host nation Morocco will look for a win over Mali in Rabat later, after Zambia plays Comoros in Group A.
AP at the Africa Cup: https://apnews.com/hub/africa-cup-of-nations
Players gather around the referee Pacifique Ndabihawenimana while a penalty kick check is being conducted during the Africa Cup of Nations group B soccer match between Egypt and South Africa in Agadir, Morocco, Friday, Dec. 26, 2025. (AP Photo/Themba Hadebe)
Egypt's goalkeeper Mohamed Sobhy clears the ball during the Africa Cup of Nations group B soccer match between Egypt and South Africa in Agadir, Morocco, Friday, Dec. 26, 2025. (AP Photo/Themba Hadebe)
Egypt players celebrate after Egypt's Mohamed Salah scores during the Africa Cup of Nations group B soccer match between Egypt and South Africa in Agadir, Morocco, Friday, Dec. 26, 2025. (AP Photo/Themba Hadebe)
Egypt's Mohamed Salah in action during the Africa Cup of Nations group B soccer match between Egypt and South Africa in Agadir, Morocco, Friday, Dec. 26, 2025. (AP Photo/Themba Hadebe)
