NEW YORK, Dec 19, 2025 (BSS/AFP) - Wall Street stocks climbed early Friday as markets weighed fresh commentary from a senior Federal Reserve official and anticipated lower trading volumes in the year-ending holiday stretch.

New York Federal Reserve President John Williams told CNBC that Thursday's reading showing lower inflation was likely "distorted" due to data-collection problems during the government shutdown, dampening enthusiasm about a report that had boosted hopes for more interest rate cuts.

The comments come ahead of the final trading stretch of 2025 amid hopes of a "Santa Claus rally."

About 10 minutes into trading, the Dow Jones Industrial Average was up 0.5 percent at 48,185.52.

The broad-based S&P 500 also advanced 0.5 percent to 6,809.44, while the tech-rich Nasdaq Composite Index rose 0.6 percent to 23,144.81.

Williams' comments "put a lid on the enthusiasm," following Thursday's report, said CFRA Research's Sam Stovall.

"There is a sort of wait and see approach right now," Stovall said. "It is a Friday before the shortened holiday week so probably not a lot of people want to establish new positions."

Among individual companies, Nike sank 9.0 percent after reporting lower quarterly earnings as the sports giant continues to be dogged by poor sales in China.

Oracle jumped 5.4 percent as it gets closer to a deal to take a stake in US operations of TikTok. TikTok said Thursday it had signed a joint venture deal with a group that also includes Silver Lake and Abu Dhabi-based MGX.