December 26, 2025

Markets

U.S. stock futures were mostly flat Friday as traders returned from the Christmas break, with the major indexes firmly on track for weekly gains.

S&P 500 futures hovered near unchanged, Nasdaq-100 futures ticked up 0.1%, and Dow futures dipped roughly 35 points, or 0.1%.

On the week, the S&P 500 is higher by about 1.4%, positioning the index for its fourth positive week in the last five. Both the Dow and Nasdaq are also up more than 1% week-to-date.

This follows a record-setting session on Wednesday, when the S&P 500 printed fresh intraday and closing all-time highs. Markets were closed Thursday in observance of Christmas.

Seasonality also remains a tailwind. We are entering one of the strongest historical periods of the year as traders look toward a potential Santa Claus Rally—defined as the final five trading days of the year plus the first two of the new year. Since 1950, the S&P 500 has averaged a 1.3% gain during this window, according to the Stock Trader’s Almanac.

Portfolio

Welcome back everyone—hope you had a great Christmas.

Now it’s time to press into the final stretch of 2025. The past two weeks have been exceptionally strong, with market narrative flipping decisively back in favor of the bulls. Momentum is real, and price action continues to confirm it.

We enter the final trading session of this holiday week holding setups in ONDS, TSLA, and PATH. The trade queue this morning is aggressive, and while we’re open to adding exposure, thin holiday volume is the only factor keeping us measured for now.

Looking ahead, we’ll begin highlighting select longer-term opportunities to carry into 2026. One theme firmly on our radar is robotics, which we believe could be a major driver into 2026–2027. Historically, the first several months of the year have been explosive for theme-based trades, and we expect that pattern to continue. Significant money has been made early in the year the past two cycles—and we’re preparing to be in full attack mode again.

Near-term, we want to see SPY and QQQ continue to grind higher. Eyes are on 700 for SPY!