March S&P 500 E-Mini futures open slightly lower after Christmas break, with volumes low due to short New Years week. Higher bond yields, including the ten-year Treasury note yield at 4.15%, are holding back trading. Initial jobless claims dropped to 214,000, better than expected, but Fed rate cut bets remain. Market watchers await the classic Santa Claus rally, with the S&P 500 averaging 1.3% returns in the last five December trading days and first two January days since 1950. In Asia, Chinas Shanghai Composite closed up 0.10% on an eight-day winning streak, while Japans Nikkei rose 0.68%. Pre-market movers include gold miners like Freeport-McMoRan up over 3% on record gold prices, Coupang jumping more than 5% after fixing a data breach, and Biohaven plunging 14% on a failed depression drug trial. China imposed sanctions on ten people and twenty U.S. defense firms over Taiwan arms sales. With Europe closed for holidays and no major U.S. data today, focus remains on yields and light holiday flows as the year ends.

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