
I write this a few minutes before the opening of today’s trading, the penultimate Friday of 2025.
The markets continue to perform well heading into the new year. In Thursday’s trading, the S&P 500 closed up 0.8%. The index is now up 15.2% year-to-date with nine full or partial trading days left in 2025. Barring an absolutely horrific correction, the index will close up for the fourth consecutive year.