December 2025 Market Update

In our December market update, Merit Financial Advisors’ Chief Investment Officer Brian Andrew, CFA®, reviews a choppier but resilient period for U.S. markets as 2025 comes to a close. Despite increased volatility, U.S. equities held near record highs, supported by broadening market leadership beyond mega-cap technology. Brian discusses the Federal Reserve’s latest rate cut, the impact of a steepening yield curve, and how delayed economic data and a cooling labor market are shaping expectations around inflation and interest rates.

Looking ahead, Brian outlines the key forces likely to influence the stock market outlook for 2026, including the sustainability of corporate earnings momentum, particularly among AI and cloud-focused companies like Microsoft, Amazon, and NVIDIA, along with evolving Fed policy and global economic risks. These insights provide important context for navigating portfolio opportunities and managing risk as markets transition into the new year.

Watch the full update to hear Brian’s perspective on what these trends mean for your financial strategy.

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