
It’s the final trading day of a holiday-shortened week. Volatility is rising -- the VIX has risen by over 43% since the beginning of the year -- with investors waiting to see what happens in Iran.
To make matters worse, the Commerce Department reported this morning that America’s GDP in the fourth quarter increased by 1.4%, 300 and 240 basis points lower than Q3 2025 and Q2 2025, respectively.