It was a mixed week for US equity indexes, with net weekly changes ranging from -0.9% (R2K), -0.7% (Dow), -0.4% (NYSE comp'), +0.1% (SPX), +0.3% (Trans), to +0.5% (Nasdaq comp').
Lets take our regular look at six of the main US indexes
sp'500
Nasdaq comp'
Dow
NYSE comp'
R2K
Trans
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Summary
Three US equity indexes were net lower for the week, with three net higher.
The R2K was broadly lower, whilst the Nasdaq was moderately higher.
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Looking ahead
The schedule is very light, for what is a 3.5 trading day Christmas week.
Earnings:
M -
T - $LMNR
W -
T -
F -
-
Econ-data/events
M - -
T - Q3 GDP, durable goods orders, consumer conf'
W - Weekly jobs *EARLY CLOSING*
T -*CLOSED*
F - -
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| Stocked up for the winter |
Final note
Reading around... I see more bearish outlooks for 2026 than bullish. Yours truly is (somewhat ironically) leaning to the latter, not least based on a few stocks... notably DECK and UNH.
Silver is where the real action is. Maybe it will hit $100 in January, but if not... there is always February... and beyond. If you're bullish silver... you can't be bearish equities, as the two broadly trade together.
With a SpaceX IPO likely due in Sept'2026, I'm increasingly thinking we'll see net upside into the late summer, before typical seasonal cooling into the midterms.
Of course... there are endless wild cards, not least Trump-Venezuela, Europe-Ukraine, Israel, and Taiwan-China. I don't call it planet Krazy for nothing.
With yours truly fully stocked, I shall hope you have enough popcorn to last across Christmas, and into the new year.
Have a good weekend
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*the next post on this page will likely appear 6pm EST on Monday.
