This week, truncated by Wednesday's holiday, includes ISM Manufacturing, pending home sales, and Tesla's vehicle delivery data. Treasury yields kept the pressure on stocks Friday.

Though the meteoric rise in Treasury yields that pinned down stocks late last week eased today, Wall Street is lower again amid mega cap weakness to start a shortened week.

Crude oil futures (/CLG25) ended the past week above $70 per barrel after the World Bank raised its estimate for China’s economic growth in 2025. China is the world’s largest crude importing nation, so any signs of a stronger economy could spur increased oil demand next year.

Amid the lack of earnings and economic news, stocks are falling in light volume and are giving back weekly gains.

Stocks returned from the holiday Thursday lacking direction and not able to carry through Tuesday's broad rally. Catalysts were lacking and major indexes vacillated, but yields slipped.

Jobless claims are today's data highlight after stocks rallied broadly Tuesday despite climbing Treasury yields. Tech led, and data and earnings are sparse before the weekend.

Stocks close at 1 p.m. ET today and bonds close an hour later, likely meaning a light volume ahead of tomorrow's holiday. Tech led yesterday's gains, but small caps got hurt by rising yields.

Stocks experienced a midweek correction following a hawkish FOMC meeting, but are recovering lost ground today following a cool PCE report.

As we approach 2025, what can investors expect from muni bonds, investment-grade corporate bonds, and the fixed income markets in the new year?