Friday's stock market was a bit boring. The three major indices all performed so flat that it was almost unnoticeable — the S&P 500 fell by 0.03%, the Dow dropped by 0.04%, and the Nasdaq only declined by 0.1%. Such slight fluctuations are extremely rare on post-Christmas trading days, having only occurred five times since 1956, with one instance just last year.

But the story in the precious metals market is completely different. Gold and silver both hit new all-time highs, creating a lively scene. Analyst Dennis DeBusschere made an interesting observation — the correlation between metals and momentum stocks is now surprisingly high. He believes this is driven by the demand for AI infrastructure development, which metals typically benefit from during periods of strong economic growth. Under this logic, stocks should theoretically perform well, just with more volatility.

Although Friday's stock trading didn't seem particularly exciting, looking back at the entire week, the numbers are quite good. The S&P 500 gained 1.4% this week, while the Nasdaq and Dow both increased by 1.2%. The gains mainly came from large-cap stocks, whereas the small-cap Russell 2000 index only rose by less than 0.3%, showing a relatively flat performance.