Your Weekly Roadmap

Good evening,  _Editor's Note: As our research heads were on a well-earned holiday break this week, they didn’t publish research. We will resume sharing their latest commentaries next week._ A decline in shares of risky, glitzy companies didn’t bother the S&P 500 too much but weighed on the tech-focused Nasdaq composite in the new year.  The S&P 500 added 0.2% on the first trading day of 2026, with eight of...

Good evening,  This week saw the final meeting of the Federal Open Markets Committee (FOMC) of the year, and the market response was positive – the S&P 500 ended Dec. 10 up 0.8% after the meeting. A Friday decline, sparked once again by the possibility of an AI bubble, led to the S&P 500 closing out the week ever-so-slightly lower, down by 0.6%. The Nasdaq Composite saw a sharper decline,...

Good evening,  The S&P 500 edged higher to start a seasonally strong December. The broad-based index rallied 0.3% this week, while the Nasdaq Composite increased 0.9%. They’re off 0.3% and 1.6% from all-time highs, respectively. Fundstrat Head of Research Tom Lee says that investors shouldn't worry about a shaky start to December, as this is how November started, too, yet the index added 0.1% last month.  “I think December is...

Good evening,  We hope our U.S. readers had a happy Thanksgiving. Trading for the month of November has now concluded, and in our view, the story this month was one of resilience. As the month began, Fundstrat Head of Research Fundstrat Tom Lee and Head of Technical Strategy Mark Newton each saw the potential for choppiness, and that potential was certainly realized. The S&P 500 was down two out of...

Good evening,  AI juggernaut Nvidia’s earnings blew through obscenely high expectations, but it wasn’t enough to overturn the bearish sentiment prevalent this month.  The S&P 500 lost 1.9% this week, while the Nasdaq Composite declined 2.7%.   Stocks declined to start the week, but there was hope that Nvidia’s earnings after the close on Wednesday could help turn the tide.  And they did, for a short while at least. It...

Good evening,  Stocks are in the midst of the "November chop" that Fundstrat Head of Research Tom Lee had anticipated as a possibility at the beginning of the month. Some of this choppiness is arguably the result of various news stories perpetuating worries about a possible AI bubble.  Across Fundstrat, there is a fairly consistent view on the matter. Is there an AI bubble? Here's how Fundstrat Head of Data...

Good evening,  Investors’ unwavering exuberance for stocks over the past three straight weeks showed signs of cooling down this week.  The S&P 500 declined 1.6%, with four of 11 sectors finishing in the red. The Nasdaq Composite lost 3%, wrapping up its worst week since April.  But the S&P 500 remains 2.4% off its all-time highs, while the Nasdaq is 4% away, even as the economy gears up for day...

Good evening,  Nvidia’s market value hit the mind-boggling $5 trillion milestone this week, making it easier for the broader stock market to defy all odds and keep surging. The broad-based S&P 500 gained 0.7% and hit fresh records this week, finishing October up 2.3%. The tech-focused Nasdaq Composite jumped 2.2% this week. This month, it has advanced 4.7%.  Both the indexes have finished in the green for at least six...

Good evening,  Investors have been nervous and uncertain in the past two weeks. At our weekly research huddle, Fundstrat Head of Data Science Ken Xuan suggested that this was an indirect result of the federal government shutdown, which has largely cut off the flow of macroeconomic data. "As time goes by, the more time we go, the more uncertainty we feel. That's because we just don't have data to know...

Good evening,  Trade tensions between the U.S. and China, which intensified last Friday, continued to occupy investors' attention this week. The previous week had seen sentiment, as measured by the American Association of Individual Investors (AAII) weekly survey, make a tentative foray into net bullish territory, but the latest trade tensions sent sentiment reverting back to net bearish this week. Volatility, which spiked after President Trump's truculent response to China's...