US markets today: Wall Street holds near record highs in holiday-thinned trade; stocks mark time as Christmas closure nears

US stocks were largely steady on Wednesday, hovering close to record levels as investors navigated a holiday-shortened session ahead of the Christmas break.In early trade, the S&P 500 was flat, a day after closing at its latest all-time high. The Dow Jones Industrial Average edged up 51 points, or 0.1%, while the Nasdaq composite slipped 0.1%, AP reported. Trading volumes remained light, with US markets set to close early at 1 pm Eastern on Christmas Eve and remain shut on Thursday, before resuming normal hours on Friday.Stock futures had pointed to a muted open, with futures for the S&P 500, Nasdaq and Dow Jones Industrial Average all little changed before the bell. Market participants continued to digest a mix of corporate news and economic signals in a thinly traded environment.Shares of Dynavax Technologies surged about 38% after French drugmaker Sanofi said it would acquire the California-based vaccine maker in a $2.2 billion deal. Sanofi plans to add Dynavax’s hepatitis B vaccines to its portfolio, along with a shingles vaccine currently under development. Sanofi shares were largely unchanged in premarket trade.On the macro front, investors awaited weekly data on applications for jobless benefits from the US Labor Department, a closely watched indicator of layoffs and labour market health. Recent data have pointed to easing hiring momentum even as jobless claims remain historically low.Markets are broadly pricing in expectations that the US Federal Reserve will keep interest rates unchanged at its January meeting, amid persistent inflation pressures and weakening consumer confidence linked to high prices. Retail sales have also shown signs of softening.Overseas, European markets were mixed at midday, with Britain’s FTSE 100 down 0.2% while France’s CAC 40 edged up 0.1%. Several global markets, including those in London, Paris, Hong Kong and Australia, closed early for Christmas Eve, while Germany’s markets remained shut for the day.Asian markets ended mixed. Japan’s Nikkei 225 slipped 0.1%, South Korea’s Kospi fell 0.2%, Hong Kong’s Hang Seng gained 0.2% and China’s Shanghai Composite rose 0.5%. Australia’s S&P/ASX 200 declined nearly 0.4%, while India’s Sensex was down 0.1%.In commodities, gold and silver extended their rally after hitting record highs earlier this week, supported by geopolitical tensions. Spot gold rose to around $4,518 an ounce, taking its gains for the year to roughly 70%, while silver climbed 1.7%.In currency markets, the US dollar weakened further against the Japanese yen amid renewed talk of possible intervention by Japanese authorities, trading at around 156.04 yen. The euro eased slightly to $1.1787.Oil prices edged higher, with US benchmark crude adding 13 cents to $58.51 a barrel and Brent crude up 6 cents at $61.93, as traders monitored potential supply disruptions linked to Venezuela and Russia.