S&P 500 futures finished the week essentially unchanged despite a bouncy trading session characterized by significant midweek volatility. Market participants navigated a mixed employment report and a Fed-friendly inflation update, which ultimately led to a late-week rally that recovered earlier losses. Although equities have trended approximately 1% lower since the Federal Reserve cut rates on December 10, volatility moved lower to end the week. Looking ahead to the holiday session, the market anticipates key data points including third quarter GDP and October durable goods, both of which were previously postponed by the U.S. government shutdown.