FactSet Evening Market Recap

US equities were narrowly mixed this week with the S&P 500 and Nasdaq slightly lower for a second-straight weekly decline. Geopolitics and Greenland were the biggest focus this week. Late in the week, the focus shifted back to Iran after Trump revived threats to use military force against Iranian leadership amid a crackdown on protests.

US equities finished higher in Thursday trading, though ended off midday highs. Stocks extended Wednesday's TACO-trade gains after Trump softened stance on Greenland and as more details around NATO deal emerge. Weekly initial jobless claims printed at 200K

U.S. equities finished higher, led by small caps, high-beta, and most-shorted stocks, as market breadth was strong and Treasuries firmed with a flatter curve, while gold hit a fresh record. Stocks pushed toward session highs after President Trump signaled a softer stance on Greenland and tariffs, easing a key geopolitical overhang and reducing the risk of European retaliation. Investors also weighed stretched positioning, a flatter expected rate-cut path, and an active earnings slate.

US equities were lower in Tuesday trading as stocks ended just off session lows. Stocks sharply lower with latest trade geopolitical updates in focus. Biggest macro highlights this week will likely revolve around Trump's Greenland meetings and affordability speech in Davos on Wednesday.

US equities were mostly lower this week, though breadth was positive with equal-weight S&P outperforming the cap-weighted index by over 100 basis points. The market ended the week with no clear directional catalyst, though downside risks are still top-of-mind. In macro news, December’s core CPI came in cooler than expected.

US equities were higher in Thursday trading though stocks ended off best levels. AI sentiment underpinned by strong results and guidance (including big capex guide) from TSM (though still dispersion in the AI trade).

U.S. equities finished mostly lower, though off the worst levels of the session, as weakness in big tech and bank earnings weighed on the tape while small caps, equal-weight indices, and defensive sectors outperformed. Economic data was largely in line, Fed commentary leaned cautious, and geopolitical and policy uncertainty remained in focus, including tariffs, China technology restrictions, and developments related to Iran. Corporate headlines drove single-stock moves, with notable pressure in financials and select growth names, offset by strength in commodities-linked stocks following upgrades and higher price forecasts.

US equities were lower in Tuesday trading, though ended off worst levels. Today saw another rotation from tech toward cyclicals, and a rotation within tech trade itself away from software/AI adopters and into semis/AI enablers. December core CPI was cooler, though the data was noisy.

US equities were higher in Monday trading as stocks finished a bit off best levels. Stocks were higher and Treasuries and the dollar ended off worst levels as the market shrugged off this morning's cautious tone on the latest Trump threat to Fed independence, reversing a modest “sell America” trade at the open. No economic data on today's calendar, in macro news, but the Treasury auctioned $68B of 3Y notes and $39B in 10's

US equities were stronger in the first full week of 2026, with the Dow, S&P 500, and the Russell 2000 ending at fresh record highs. There was a lot of evolution regarding Venezuela in the week following the US capture of Nicolas Maduro. December nonfarm payrolls rose 40K, below the Street. December ISM manufacturing printed below consensus and remained in contraction for the tenth straight month.

US equities finished mostly higher in Thursday trading. Breadth was notably positive with equal-weight S&P outperforming the benchmark by more than 110 bp. Several dynamics in focus as market continues to wait for NFP, SCOTUS decision on IEEPA tariffs, start of Q4 earnings and Fed chair pick by President Trump.

U.S. equities finished mostly lower in Wednesday trading, closing near the worst levels of the session. Geopolitics and a heavy data slate dominated attention, though economic releases did little to shift Federal Reserve expectations. In corporate news, political commentary from President Trump drove sharp moves in defense and housing-related stocks and mergers and acquisitions remained a key source of support for select names.

U.S. equities finished higher in Tuesday trading, ending near session highs with the S&P 500 posting a fresh record close; its first since 24-Dec. A few dynamics were in focus today, with notable movers in both directions following Nvidia's CES keynote. Memory/storage and select semiconductor stocks were the big AI trade beneficiaries, while semiconductors more broadly were also supported by Microchip's guidance raise and a pro-cyclical rotation that defined Monday's session.

US equities closed higher in Monday trading, though ended a bit off best levels. Geopolitics dominated the headlines amid developments in Venezuela, but the impact on broader market sentiment was fairly muted. In macro news, December ISM manufacturing printed at 47.9, below the 48.7 consensus and November's 48.2

Stocks ended lower this week with most discussion centered on the failed Santa Claus rally/lack of seasonal tailwind, while broader macro catalysts were limited. December FOMC minutes offered no surprises, and reinforced expectations for cautious, gradual easing in 2026 though division within the Fed remains a key focus point. Housing data modestly surprised to the upside, jobless claims declined w/w, and markets continued to look ahead to early-2026 catalysts.

It was another very quiet, low-volume session ahead of tomorrow's Christmas Eve early close. Big tech was mostly higher with Nvidia faring best. Today's economic data offered mixed macro takeaways with stronger hard data (GDP, ADP private payrolls) but weaker soft data (Consumer Confidence, Richmond Fed Index).

US equities finished higher in Monday trading, ending not far from best levels. It was a fairly quiet session from a headline perspective, but the momentum from late last week carried over into a broad risk-on day. A bit of Fedspeak today in macro news.

Major US equity indices were mixed this week. Major AI infrastructure names saw additional scrutiny after reports of stalled negotiations for a $10B Michigan datacenter with Blue Owl Capital, Oracle's largest datacenter partner (though Oracle says the project remains on track). However, other AI headlines from the week were more upbeat, including a very well-received earnings report from Micron.

US equities higher in Thursday trading, just off their best levels. Disinflation traction and better tech/AI sentiment were the big pieces to today's risk-on, broad-based rally. Additionally, the day saw the coolest core CPI print in nearly five years adding support to dovish Fed narrative.

US equities were lower in Wednesday trading, finishing near worst levels, with the Dow Jones, S&P500, and Nasdaq closing down 47bps, 116bps, and 181bps respectively. AI weakness was the big story today following Financial Times report that Blue Owl backed out of an Oracle and OpenAI data center project in Michigan with no reprieve from Oracle comments project remains on track. Fedespeak from Waller remarks at Yale had a dovish cast. Today’s $13B auction of 20s was well received. Micron earnings after the close and President Trump addressing nation tonight.