With the US on holiday, market activity has slowed, leaving investors to digest a strong month of earnings. The S&P 500 delivered 13.4% growth, led by healthcare, financials, consumer discretionary, and technology.
Big Tech, including Nvidia, posted better-than-expected results, but concerns over cash flow, inventories and AI deal circularity weighed on sentiment. The Fed’s recent dovish signals helped stabilize markets, pushing rate-cut expectations higher and supporting a tech-led rally. European and Asian markets have been mostly quiet, with mixed results in tech and limited upside. Uncertainty remains high around AI valuations, Fed policy and global macro conditions.
A Santa rally is possible if inflation stays subdued, but profit-taking and volatility remain risks. Gold and oil are responding to macro signals, with OPEC expected to stop bringing extra barrels to the market. Watch the full episode to find out more!
