Rallies, Pullbacks, Repeat: The Story of U.S. Stock IndexesE-mini S&P 500 Futures (Dec 2025)CME_MINI:ESZ2025LegendSinceThe U.S. stock market has been threading a fine line lately: the S&P 500 and Nasdaq climbed today as tech names like Nvidia, Micron, and Lam Research led gains, while traders held their breath over a looming government shutdown. Despite strong momentum, indexes ended the week in the red as hawkish comments from Fed officials and sticky inflation data cooled enthusiasm. What’s driving this tug-of-war? Optimism over rate cuts clashes with political risk — and the next twist could send markets swinging hard.