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Markets closed 2025 with strong annual gains even after a late skid: the S&P 500 finished up about 16% for the year, Nasdaq outperformed on mega-cap tech, and the Dow held steady. Volatility ticked up as Fed minutes showed policymakers divided; mortgage rates eased and bond yields drifted, leaving investors focused on AI-driven earnings and Fed direction.
President Trump ordered National Guard units withdrawn from Chicago, Los Angeles and Portland, a move that ends a high-profile domestic deployment. The pullback follows legal and political pushback and will reshape federal-local security dynamics.
$2.2tn – Record wealth added by the world’s 500 billionaires in 2025.
The Justice Department has vastly expanded its review of documents tied to Jeffrey Epstein, now totalling millions of pages and hundreds of attorneys. Officials say the probe is intensifying as the agency works through a massive backlog of sensitive materials.
Warren Buffett stepped down as CEO of Berkshire Hathaway, ending a six-decade tenure that reshaped investing. Markets and executives are bracing for management and strategic shifts as his successor takes the helm.
Vanda Surges After FDA Nod – Shares Rally on Approval
Vanda Pharmaceuticals jumped after FDA cleared its motion-sickness drug, a clear commercial catalyst that sent shares sharply higher and bolstered biotech sentiment.
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TSMC has begun volume production of 2-nanometer chips, marking a major step in the semiconductor race. Nvidia has separately asked the foundry to increase H200 output to meet surging Chinese demand for AI hardware.
China staged large military exercises around Taiwan, signalling increased resolve and raising regional tensions. Taipei kept emergency maritime and defense measures on high alert as ships and drills prompted diplomatic concern.
Corcept Shares Plunge After FDA Rejection – Stock Tumbles
Corcept Therapeutics plunged after the FDA declined its drug, wiping out market value and creating near-term commercial and funding pressure for the biotech.
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The U.S. ramped up pressure on Venezuela by sanctioning traders and firms tied to oil shipments while conducting strikes on suspected narco-trafficking vessels. Washington’s moves aim to choke revenue streams and disrupt illicit maritime convoys.
The House Oversight Committee released former special counsel Jack Smith’s deposition, a 255-page transcript that sheds light on the Trump indictments. The files add fresh public detail to ongoing legal and political battles.
Treasury and the IRS issued guidance on the new ‘No Tax on Car Loan Interest’ deduction while five states begin SNAP restrictions on sugary foods. The Trump administration froze federal child-care payments pending audits and the EU is advancing a carbon-border tax framework.
Saks Global missed a debt payment and is preparing for bankruptcy negotiations with creditors, signalling stress at a retailer owner already burdened by acquisition debt. Markets and lenders are watching potential Chapter 11 steps closely.
A federal judge ruled the Trump administration must fund the Consumer Financial Protection Bureau, a legal setback for efforts to defund the agency. The decision heightens a political fight over consumer-finance oversight and regulatory budgets.
The Constitution remains ‘firm and unshaken.’
— Chief Justice John Roberts
Federal Reserve minutes show a deep divide among policymakers over interest-rate paths, revealing that a December cut was hotly debated. Investors flagged the split as a source of market unease heading into 2026.
Major U.S. indices finished 2025 with strong annual gains despite a late-year skid as tech and AI bets powered markets. The S&P posted double-digit returns while investors weighed valuation risks ahead of 2026 catalysts.
U.S. mortgage rates fell to their lowest levels of the year, providing relief to prospective homebuyers and easing affordability pressures slightly. The dip could support housing demand early in 2026 if rates remain subdued.
China’s property sector remains in deep trouble, with analysts warning the crisis could persist into the next decade. High-profile near-defaults by major developers underline fragility in the recovery and the need for policy support.
Meta is moving aggressively on AI, agreeing to acquire Manus for billions and facing internal scrutiny over practices to blunt regulator pressure on scam ads. The moves highlight tensions between rapid growth and regulatory exposure.
Elon Musk’s ventures are scaling hardware and infrastructure: Neuralink aims for high-volume device production by 2026 while xAI expands its data-center footprint. The initiatives underline Musk’s bet on integrated AI ecosystems.
JPMorgan challenged legal bills tied to the Charlie Javice fraud case, flagging millions charged for attendance and raising questions about runaway defense costs. The battle highlights litigation expense scrutiny at major banks.
The Trump administration froze child-care payments and ordered tougher verification across states amid fraud allegations, triggering state pushback and audits. The move has immediate budget implications for providers and parents.
Weekly jobless claims dipped below 200,000, signaling historically low layoffs and a still-resilient labor market even as other economic indicators soften. The data complicates forecasts for growth and Fed policy next year.
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