Stocks Flat in Quiet Pre-Holiday Trading; S&P Nears Record High on Hopes for Soft Landing
• Premarket trading is muted in the last trading week of the year, with major indexes little changed • The S&P 500 is hovering just below its all-time high from January 2022 after 8 straight weeks of gains • Recent data raises hopes the Fed can avoid tipping the economy into recession as it fights inflation • In Asia, Hong Kong stocks surged over 2% on heavy buying of tech and property shares • Oil prices declined slightly, with Brent crude down to $78.58 per barrel