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Markets closed 2025 with strong gains but ended the year on a soft note: S&P 500 up ~16% for 2025, Nasdaq lower on tech profit‑taking and Dow mixed. Volatility rose in small‑cap and crypto markets while AI, chips and precious metals drove sector leadership. Key catalysts for 2026 include Fed rate guidance, big tech earnings and a wave of potential IPOs.
Big private tech groups and space firms are lining up blockbuster public listings that could reshape markets and fees for banks and law firms. Two reports suggest SpaceX, OpenAI and Anthropic could launch IPOs that dwarf 2025 volumes.
16% – S&P 500 annual gain in 2025, underscoring tech‑led rally.
Nvidia is scrambling to meet surging H200 demand from China, engaging TSMC for bigger runs. Multiple sources say orders and requests could force a major production ramp at contract fabs.
Warren Buffett steps back and hands operational control to Greg Abel, prompting investor scrutiny over Berkshire’s future strategy. Coverage focuses on succession and how Abel will steer the $1.1tn conglomerate.
Vanda soars after FDA nod for motion‑sickness drug
Vanda Pharmaceuticals jumped after the FDA approved its motion‑sickness treatment, a rare clear regulatory win that sent shares sharply higher and bolstered biotech sentiment.
More on breakingthenews.net
The Justice Department is deepening its review of previously unreleased Jeffrey Epstein files, expanding document counts and legal resources. Reports say millions of pages remain under scrutiny, raising political and legal stakes.
Russia and Kyiv traded claims after a drone strike, with Moscow saying civilians were killed and releasing footage to buttress its case. The developments risk further escalation amid heightened tensions.
Saks skips bond payment — bankruptcy looms
Owner of Saks Fifth Avenue missed a debt payment as it enters talks with creditors, raising prospects of a Chapter 11 filing and ripples across luxury retail.
More on wsj.com
China staged large-scale military drills around Taiwan as tensions rose at year-end, prompting Taipei to boost readiness. The island remained on high alert as Beijing signalled resolve.
Mortgage rates slipped to their lowest levels of 2025, giving potential buyers some relief. Multiple reports show 30-year rates dropped, easing pressure on housing affordability into 2026.
Multiple policy shifts take effect: Trump delays new furniture tariffs to 2027; five U.S. states begin SNAP restrictions on soda and candy; China imposes a 13% sales tax on contraceptives and tightens precious‑metals rules.
Precious metals capped a blockbuster year, though prices wobbled in the final session. Gold and silver logged multi‑decade gains, prompting volatility as traders locked in profits.
China’s factory activity picked up in December and its EV makers expanded into Southeast Asia, underpinning a fragile recovery. Policymakers and exporters are watching demand and subsidy moves closely.
We will begin high‑volume production of Neuralink devices in 2026 — that’s the plan.
— Elon Musk
Washington stepped up sanctions and blacklists tied to Venezuelan oil as US pressure on Maduro’s regime intensified. Moves aim to choke illicit exports and hit shipping networks.
Banks leaned on the New York Fed’s standing repo and other year‑end facilities as short-term funding stresses persisted. Officials and traders flagged record repo draws but also stabilizing interventions.
Chinese tech and chip IPOs remain hot: a homegrown rocket firm and a DRAM challenger moved towards listings. Investors are piling into mainland offerings after a busy 2025 for Hong Kong markets.
Apple scaled back Vision Pro production amid weak demand, supply issues and marketing cutbacks. Reports say assembly pauses and paused ad spends underscore the headset’s struggles.
Saks Global skipped a debt payment and is reportedly preparing for bankruptcy, underscoring retail distress. The move imperils the owner of luxury chains and could trigger restructuring talks.
The Trump administration pulled the plug on long-standing golf leases in DC, moving to seize control of three public courses. The steps are part of a wider push to reshape federal property holdings.
AI firms and hyperscalers are expanding data centre footprints, triggering power and grid challenges. Labs are deploying on-site generators while companies buy buildings to house massive compute stacks.
Major indices finished 2025 with strong gains despite late selling pressures, driven by tech and AI winners. Analysts flagged momentum into 2026 but warned of narrow leadership and elevated valuations.
Congress and the courts kept pressure on the administration with high‑profile legal developments. A deposition release and a federal ruling on independent regulator funding could shape next year’s fights.
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