Key Economic Events and Corporate Reports for Friday, December 26, 2025: The Impact of Boxing Day on Liquidity, Where Markets Are Closed and Where Trading Continues, and What Investors Should Pay Attention to at Year-End.
This trading day unfolds in an atmosphere of holiday calm in global markets. Following Christmas, many exchanges have yet to resume operations, and significant economic events are not anticipated. On December 26, investors do not expect new macroeconomic data releases or financial reports from major companies, resulting in minimized trading activity. Any price changes today will largely be driven by the momentum of events from the beginning of the week and technical factors associated with year-end.
Boxing Day and Market Closures on Key Exchanges
December 26 is celebrated as Boxing Day in several countries—a traditional holiday following Christmas. In the United Kingdom, Germany, and Commonwealth countries (Australia, Canada, New Zealand, South Africa, etc.), markets are closed, and trading does not take place. Most European exchanges are also still on Christmas holiday, which reduces global trading volume and deprives markets of one of their main sources of liquidity. In the absence of European investors, global stock indices lack familiar benchmarks from the morning, leading to notably lower overall market activity.
Open Markets: The US and Asia Trade Normally
American stock exchanges (NYSE, NASDAQ) operate on a standard schedule: December 26 is not an official holiday in the US. However, activity on Wall Street may be below average, as many traders and funds have extended their holiday breaks until the end of the week. As a result, any changes in quotes will be related to the assimilation of already known information. Market participants in New York continue to process the final GDP estimate for the US for the third quarter and the consumer confidence index released on Tuesday, lacking new data for guidance.
Asian exchanges, including Japan (Nikkei 225 index) and mainland China, are also open and conducting trades, as Christmas is not an official holiday in these countries. Nevertheless, trading volumes are quite modest today on Asian exchanges: global market participants are absent, and local investors are not showing increased activity. Daily price fluctuations in Shanghai and Tokyo are primarily technical in nature, lacking pronounced trends.
Macroeconomic Statistics: A Pause in Releases
The international economic calendar for December 26 is nearly empty. Government agencies and regulators in the US and Europe do not plan publications amid the festive period. No significant statistics are expected to be released in Asia either, as key indicators were already disclosed earlier in December. Therefore, investors have no fresh macroeconomic guidelines this Friday, with markets relying on already known data.
- Russia: Rosstat publishes its monthly report on the "Socio-Economic Situation in Russia" for November.
- Russia: Data on business activity of organizations for December will also be released.
Russian statistical indicators released on schedule shed light on the state of the economy in the RF at year-end. However, the influence of this data is limited to the domestic market and cannot shift global trends in the absence of international events.
Corporate Events: A Quiet End to the Year
The corporate calendar for December 26 is exceptionally sparse. The earnings season (publication of quarterly financial reports) is virtually over, and none of the companies in key indices (S&P 500, Euro Stoxx 50, Nikkei 225, Moscow Exchange Index) plans to release financial results on this day. Even in the US, where markets are open, no notable quarterly reports are anticipated: large corporations prefer not to disclose results during the height of the holiday week. A small number of smaller companies may have scheduled release of reports, but these are unlikely to attract significant investor attention and will not affect the overall news environment.
It is worth mentioning a particular event in the Russian market. The energy company EL5-Energo is holding an extraordinary general meeting of shareholders (in absentia), at which the issue of reorganization through the merger of two subsidiaries—AOVDK-Energo and LLC “LUKOIL-Ekoenergo”—is being discussed. The reorganization involves an additional issuance of approximately 27 billion new shares of EL5-Energo, significantly increasing the company's charter capital. While this corporate event is significant for shareholders of EL5-Energo and the energy sector in the RF, it is of a local nature and does not influence the overall market sentiment.
Thin Trading and Neutral Market Dynamics
The lack of fresh news and the reduction in the number of active market participants lead to "thin" trading—characterized by low liquidity and calm price dynamics. Under such conditions, major stock indices (S&P 500, Euro Stoxx 50, Nikkei 225, Moscow Exchange Index) typically remain within a narrow range. Volatility is at reduced levels, as large investors have already locked in their positions and are not inclined to initiate new trades ahead of the New Year. Even oil prices and major currency exchange rates are moving without sharp changes, reflecting the overall wait-and-see sentiment.
It should be noted that the end of December sometimes brings what is referred to as a "Santa Claus rally"—a seasonal rise in prices on low volumes. However, in 2025, there are few indications for a confident rally: investors have taken a wait-and-see stance following mixed macroeconomic results in recent weeks. Therefore, no significant price surges are expected during the December 26 session.
What Investors Should Pay Attention To
In the context of a quiet pre-New Year session, investors are advised to adopt a measured approach. The Friday following Christmas does not promise major earning opportunities, but it does allow for a calm assessment of the market situation.
- Avoid unnecessary operations: with low liquidity, any transactions carry increased risks, and market movements may be random.
- Use the trading pause to analyze your investment portfolio: summarize the results of 2025 and check the alignment of assets with the chosen strategy.
- Prepare plans for January: with the start of the new year, market activity will resume, and it is essential to be ready for potential increases in volatility when major participants return to the market.
Overall, December 26 passes quietly and can be viewed as a "calm before the storm" ahead of the final sessions of 2025. After the long weekend, markets will enter the last week of the year, during which individual participants may perform portfolio rebalancing and close annual books. Investors should meet these changes well-prepared, maintaining discipline and a long-term perspective despite the short-term lull.
