New York — Investor focus shifts to key economic data and Federal Reserve insights following back-to-back losses for the S&P 500. The upcoming session will be dominated by the release of the S&P/Case-Shiller Home Price Index and the highly anticipated minutes from the Fed's December policy meeting, which are expected to reveal the depth of internal debate over the 2026 interest rate path.

The housing data arrives as the real estate sector languishes as the worst performer in the S&P 500 for 2025, with only seven of its constituent stocks in positive territory for the year. Meanwhile, the Fed minutes will be scrutinized for clues on policymakers' views following their recent rate cut and their cautious stance on future moves, against a backdrop where traders are still pricing in additional easing for next year.

Sector Spotlight: Retail Returns and AI's Restaurant Role

Post-holiday dynamics will also be in view. CNBC's retail coverage will track post-Christmas return trends, highlighting starkly divergent stock performances: Five Below, Tapestry, and American Eagle have surged 15-32% in the past month, while Kohl's and Best Buy have fallen sharply.

In the restaurant sector, the focus turns to artificial intelligence integration at drive-thrus and in operations. While chains like Brinker International (Chili's) and Dine Brands (Applebee's) are up about 8% for the year, the sector overall has struggled, with Sweetgreen, Jack in the Box, and Wendy's down between 49% and 79% in 2025. This illustrates the high-stakes race for efficiency in a challenging consumer environment.

Defense Tech and Year-End Scoreboard

In other developments, Israeli defense firm Elbit Systems has delivered its first "Iron Beam" laser defense system to the military, a strategic technological pivot that uses directed energy to intercept threats and could open new international markets. Elbit's U.S.-traded shares have more than doubled in the past year.

As the penultimate trading day of 2025 approaches, major indices remain solidly in the green for the year despite recent dips, with the Nasdaq up 21.5% and the S&P 500 up 17.4%. The day's data will test the market's resilience and set the tone for the final session, all within a complex competitive ecosystem of economic signals and strategic sector rotations.