All Posts

Wall Street tiptoed into the Christmas break with its party hat still firmly on, as major indexes notched fresh records or near-record closes in a holiday‑shortened session that felt more champagne than coal. In all, Christmas Eve gave investors what they wanted most: rising stocks, calmer policy waters and just enough risk left on the table to keep 2026 forecasts lively—and careers, as always, subject to revision

S&P 500: Santa’s Favorite Benchmark

The S&P 500 added about 0.32% on Wednesday, edging to a new record close near 6,932.05 and its first Christmas Eve record in more than a decade, with 10 of 11 sectors participating in the rally. The index is now up roughly 17.86% year‑to‑date, a tidy performance for a market that spent much of the year pretending higher rates, tariffs and shutdown drama were just background noise.

Dow 30: Blue Chips Go Festive

The Dow Jones Industrial Average climbed around 0.6% to finish near 48,731, extending a winning streak that has the blue‑chip gauge up about 14.54% for 2025. The move came on light pre‑holiday volume but broad participation, as investors appeared more interested in squeezing in one more uptick than in last‑minute shopping.

Nasdaq & Russell: Growth Keeps Gliding

The Nasdaq Composite inched higher by roughly 0.22% to about 23,613, leaving the tech‑heavy index up more than 22% for the year as AI, chips and megacaps continued to do the market’s heavy lifting. The Russell 2000 added about 0.27% to 2,548.08, modestly extending a small‑cap advance that has now topped 14.28% in 2025, even if the group still looks more “value menu” than “tasting menu” compared with the megacap elite.

Macro, Fed, Tariffs and Shutdown

• The macro backdrop remained one of solid but cooling growth, with consumer spending still propping up the economy even as shoppers complain loudly about prices heading into 2026.
• The Fed’s December meeting is already in the books, with policymakers delivering their third 25‑basis‑point cut of the year and taking the funds rate to a 3.50%–3.75% target range, a level officials now describe as roughly neutral.
• The yield curve has been gradually normalizing after the Fed’s cuts, with shorter‑maturity Treasury yields drifting lower as markets price in only limited easing from here rather than a full‑blown pivot.
• Tariff risk remains an ever‑present stocking stuffer: Trump’s earlier tariff package and his floated “tariff dividend” continue to color the policy backdrop, and markets remain attuned to potential court decisions on tariff legality that could swing risk sentiment and metals demand.
• Washington’s shutdown saga is in “temporary truce” mode, with recent moves to avoid another immediate closure helping calm markets even as longer‑term fiscal concerns—including a deficit near 6% of GDP—continue to underpin demand for safe‑haven metals.

FOMC Timing

The December FOMC meeting concluded in mid‑month; the next policy gathering is scheduled for early 2026, with the current dot plot pointing to only one additional cut next year. Fed commentary has shifted from aggressive easing toward a cautious “wait‑and‑see” posture, emphasizing labor‑market risks and still‑elevated inflation rather than promising further rapid cuts.

IPOs, SPACs and Deal Tape

• On the new‑issue front, Silicon Valley Acquisition Corp. completed a $200 million SPAC IPO on Nasdaq, selling 20 million units at $10 each, with underwriters holding a 45‑day option to buy an additional 3 million units.
• Overall, the 2025 IPO class has swelled to roughly 347 U.S. listings, more than 55% above the pace at this time last year, as long‑dormant issuance finally reawakened.
• Recent days have also seen the launch of other blank‑check and specialty listings, including vehicles such as Social Commerce Partners’ 10‑million‑unit Nasdaq offering priced at $10 per unit, underscoring that the SPAC genre still refuses to exit stage left.
• In broader M&A, Accenture agreed to acquire Italian financial‑services tech firm Cabel Industry, while infrastructure investor Stonepeak struck a deal to buy a majority stake in Castrol from BP at a roughly $10.1 billion enterprise value, with BP retaining a minority interest.

Gold, Silver, Oil and Bitcoin

• Gold extended its charge to fresh record territory above the $4,500 per‑ounce mark this week closing at $4,502.80 today, as investors balanced softer data, ongoing tariff and geopolitical risks, and U.S. fiscal worries.
• Silver closed at $71.685/oz. has outpaced even gold’s exuberance, logging an eye‑catching 24% gain in December alone and 142% YTD and reinforcing the sense that metals are once again the asset of choice for those nervous about deficits and policy volatility.
• Oil prices remain supported by supply‑side jitters and sanction‑related disruptions, with Crude recently trading near $58.35 per barrel following fresh U.S. restrictions on sanctioned tankers.
• Bitcoin, after a rollercoaster year marked by heavy tariff‑induced volatility and one of the largest liquidation events on record, is heading into year‑end with traders focused on a looming $27 billion options expiry that could inject additional fireworks into holiday‑thinned markets. and is trading near $87,495 today.

Eli Lilly (LLY): GLP‑1 Royalty Holds Court

Eli Lilly (LLY) shares traded modestly higher in the holiday‑shortened session, hovering around $1,075–$1,085 as investors digested a fresh wave of GLP‑1 headlines rather than any company‑specific fireworks. The stock has been buoyed by blockbuster obesity and diabetes treatments that drove Q3 2025 revenue up about 54% year‑over‑year and pushed non‑GAAP gross margins above 83%, even as Novo Nordisk’s newly approved oral Wegovy pill sharpened competitive questions.

TSM, Nvidia, Micron and Intel: Chips Still Run the Menu

• Taiwan Semiconductor (TSM, $298.80, +.62%) continued to ride the AI wave, trading not far below recent levels near $295–$300as investors leaned into a story defined by 40%‑plus stock gains this year, 30%‑plus revenue growth and net margins north of 43%.
• Nvidia (NVDA, $188.61, -.32%) remains the market’s unofficial AI central bank, with analysts reiterating bullish calls that highlight its estimated 95% share in data‑center AI chips and a potential total addressable market topping $500 billion by 2028; tech’s modest advance on the day kept the stock in the market’s leadership pack even without a big Santa‑rally pop.
• Micron (MU, $286.68, +3.77%), a key beneficiary of AI‑driven memory demand, has enjoyed a year of outsized gains supported by bullish commentary on high‑bandwidth memory and storage, though today’s quiet tape left the name trading more in line with the broader chip complex than as a standalone headline driver.
• Intel (INTC, $36.16, -.52%), still attempting its turnaround as a foundry and AI infrastructure player, moved largely in sympathy with the broader semiconductor group, with sentiment aided by improving sector fundamentals even as competitive pressure from TSM and Nvidia remains formidable.

Megacaps and Tech Titans: Apple, Tesla, Broadcom, Meta, Palantir

• Apple (AAPL, $273.81, +.53%) ticked higher, recently trading around $271, as ongoing enthusiasm over AI‑enabled devices and services offset concerns about maturing smartphone demand; the stock has benefited from a string of upbeat analyst calls and a broad flight to quality in megacap tech.
• Tesla (TSLA, $485.40, -.03%) shares saw restrained holiday trading after a year marked by frequent swings; analysts remain focused on upcoming catalysts from robotaxis, lower‑cost models and the Optimus humanoid robot, all of which have kept the stock central to AI‑plus‑autos narratives even as execution risk stays elevated.
• Broadcom (AVGO, $350.22, +.26%) continued to sit comfortably in the AI winners’ circle, supported by repeated analyst upgrades that emphasize its leadership in custom AI ASICs and an expanding customer roster among hyperscale cloud providers.
• Meta Platforms (META, $667.55, +.39%) participated in the broader tech drift higher, with ongoing investor focus on AI‑driven ad tools and efficiency gains from its multiyear cost‑cutting campaign rather than any specific Christmas Eve catalyst.
• Palantir (PLTR, $194.17, +.02%), fresh off a year dominated by debate over AI valuations and high‑profile short interest, traded in line with broader software and defense‑tech peers, as investors balanced long‑term government and commercial AI demand against a rich multiple and lingering volatility.

Consumer, Real Estate and Cyclicals: McDonald’s, Opendoor, Rio Tinto

• McDonald’s (MCD, $131.33, +.80%) shares were little changed in the quiet session, with the fast‑food giant remaining a preferred defensive growth name amid steady global same‑store sales and pricing power that has made its menu look almost as reliable as Treasurys—just with more salt.wtop+1​
• Opendoor (OPEN, $6.28, +.16%), a high‑beta housing‑tech name, entered Christmas week after a year of dramatic price swings, including a roughly 300% gain over one recent quarter that sparked fresh scrutiny of its path to sustainable profitability and exposure to housing‑cycle crosswinds.
• Rio Tinto Group (RIO, $80.89, -.10%) traded broadly in line with the global commodities complex, as investors weighed China‑linked demand, shifting tariff and trade dynamics, and the longer‑term role of copper and iron ore in the energy transition.

Networking, Telecom and Software: Nokia, Oracle, OKLO

• Nokia (NOK, $6.59, +.92%) shares were quiet, reflecting a sector still wrestling with uneven 5G spending and capex fatigue, even as investors look for upside from network modernization and potential AI‑related traffic growth.
• Oracle (ORCL, $197.49, +1.10%) remained in focus after recent analyst commentary argued that bearish sentiment has become too one‑sided, highlighting the company’s growing role in AI‑enabled cloud infrastructure and enterprise applications.
• Oklo (OKLO, $81.31, -.70%), the advanced nuclear microreactor developer that has captured clean‑energy imaginations, continued to trade as a long‑duration story tied to licensing milestones and demonstration projects rather than day‑to‑day earnings, leaving the stock sensitive to risk appetite in a thinly traded holiday tape.

Tariffs, Trade and Policy Undertow

Tariffs remain a key macro undertow, with Trump’s earlier moves on Chinese imports and the possibility of court challenges to tariff authority influencing both corporate planning and safe‑haven positioning. The ongoing debate over a potential “tariff dividend” funded by customs receipts and borrowing has only sharpened investor focus on the U.S. fiscal trajectory, which markets increasingly see as a central driver of metals and bond pricing rather than a distant concern.

Vista Partners Watchlist Updates

Modular Medical, Inc. (Nasdaq: MODD., $.4027, 20.68%), a leader in innovative insulin delivery technology targeting the $3 billion adult “almost-pumpers” diabetes market with user-friendly, affordable patch pumps, announced (Dec. 10) that it had priced an underwritten public offering (the “offering”) of 12,173,000 shares of its common stock and accompanying warrants to purchase 6,086,500 shares of its common stock. Each two shares of common stock are being offered and sold together with one accompanying warrant at a combined offering at a price of $0.77, yielding an effective price of $0.38 per share and $0.01 per warrant. The warrants will have an exercise price of $0.45 per share, are exercisable immediately upon issuance and will expire five years following the date of issuance. In connection with the offering, Modular Medical has granted the underwriter a 30-day option to purchase up to an additional 15% of common shares and/or warrants at the public offering price, less underwriting discounts and commissions. The over-allotment option may be elected with respect to, at the underwriter’s sole discretion, shares and warrants together, solely shares, solely warrants, or any combination thereof. Newbridge Securities Corporation is acting as the sole bookrunner for the offering. Assuming no exercise of the over-allotment option, the gross proceeds to the Company from the offering are expected to be approximately $4.68 million, before deducting underwriting discounts, commissions, and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering to fund operations and for working capital and general corporate purposes, including capital expenditures.

On Nov. 17, Modular announced Institutional Review Board (“IRB”) approval to conduct an in-house study of its next-generation Pivot™ insulin delivery system using insulin on people with diabetes (the “Study”). Pursuant to U.S. Food and Drug Administration (“FDA”) regulations, an IRB is a group that has been formally designated to review and monitor biomedical research involving human subjects. The Study will simulate real-world conditions by delivering insulin to adult participants to gather critical data on device function and usability and obtain user feedback. Modular Medical’s Pivot tubeless patch pump aims to enhance accessibility for underserved patients with diabetes and drive market penetration and expansion.

On Nov. 14, Modular Medical announced the 510(k) premarket submission of its next generation Pivot™ tubeless patch pump to the U.S. Food and Drug Administration (the “FDA”). The Company expects to commence the commercial launch of its Pivot pump in Q1 2026. On Nov. 3, Modular Medical the successful validation of its Pivot controller line, a critical milestone in preparing for the commercial launch of its Pivot patch pump targeted for Q1 2026. The Pivot controller line validation further demonstrates manufacturing readiness for high-volume production, positioning Modular Medical to meet the growing demand in the diabetes treatment market for advanced technology.

Eupraxia Pharmaceuticals Inc. (NASDAQ: EPRX, $7.34, +2.09%), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology to optimize local, controlled drug delivery for diseases with significant unmet need, announced (Nov. 13) the second set of 52-week follow up data from its ongoing Phase 1b/2a RESOLVE trial evaluating a single administration EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). James A. Helliwell, Chief Executive Officer of Eupraxia stated,“These data further highlight the strong durability and tolerability profile of EP-104GI, reinforcing its potential to become a convenient, once-a-year treatment that fits seamlessly into routine disease management by aligning with annual patient endoscopies. The Cohorts 5 & 6 patients – the only groups to have reached 52 weeks in the trial – are demonstrating levels of symptom relief that is durable and clinically meaningful – we are very encouraged by this outcome. We’re also pleased that our previously announced 52-week data were presented as a late-breaking presentation at the American College of Gastroenterology Annual Scientific Meeting (ACG). These new results build on that momentum. Given that current EoE therapies often struggle with long-term adherence, we believe a durable, once-yearly treatment could meaningfully improve patient outcomes and establish EP-104GI as a preferred option for both physicians and their patients.”

GeoVax Labs, Inc. (Nasdaq: GOVX, $.1817), a clinical-stage biotechnology company developing multi-antigen vaccines and immunotherapies for infectious diseases and cancer, announced (Dec. 19) that it has entered into definitive securities purchase agreements with several institutional and individual investors for the purchase and sale of approximately 13.2 million units, each comprised of one share of the Company’s common stock and warrants, as described below, to purchase shares of the Company’s common stock, at a price of $0.245 per unit in a public offering. The Company will issue warrants to purchase up to approximately 26.5 million shares of common stock. The warrants will have an exercise price of $0.245 per share, will be exercisable immediately following the date of issuance and will have a term of five years following the date of issuance. Roth Capital Partners is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from this offering are expected to be approximately $3.2 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The closing of the offering is expected to occur on or about December 22, 2025, subject to the satisfaction of customary closing conditions.

GeoVax announced (Dec. 18) the publication of a peer-reviewed article in Frontiers in Immunology titled: “Multi-antigen MVA-vectored SARS-CoV-2 vaccine, GEO-CM04S1, induces cross-protective immune responses to ancestral and Omicron variants.” The study provides definitive preclinical evidence that GeoVax’s multi-antigen COVID-19 vaccine candidate, GEO-CM04S1, delivers full cross-variant protection, driven predominantly by robust T-cell responses, even in the absence of neutralizing antibodies. The findings reinforce the design philosophy behind GeoVax’s MVA-based, multi-antigen platform and provide mechanistic insight that is increasingly relevant for immunocompromised individuals, who often fail to respond optimally to the first-generation COVID-19 vaccines.

GeoVax announced (Dec. 17) the successful completion of fill-finish for the initial clinical batch of GEO-MVA, its next-generation Mpox/smallpox vaccine. The product has now entered final release evaluation, the concluding quality-control and compliance process required before shipment for clinical use, positioning the Company for Phase 3 immunobridging trial start-up activities in Q1 2026. Fill-finish – the sterile, cGMP-regulated process of filling, sealing, and packaging vaccine vials – marks the last manufacturing step before a vaccine may enter clinical study supply channels. With fill-finish complete and GEO-MVA now undergoing final release evaluation, GeoVax has moved into the final pre-clinical-deployment phase of its EMA-aligned clinical program. In June 2025, the European Medicines Agency (EMA) Scientific Advice confirmed that a single Phase 3 immunobridging study demonstrating immune comparability to the approved MVA vaccine, Imvanex(R), would be sufficient to evaluate GEO-MVA’s efficacy. This provides a clear, accelerated regulatory path to licensure. This milestone coincides with increasing Mpox activity globally – including expanding Clade I outbreaks in Africa and emerging cases in the United States – exposing vulnerabilities associated with global dependence on a sole foreign MVA vaccine supplier. GEO-MVA is designed to expand supply, diversify sources, and strengthen biodefense infrastructure.

Volato Group, Inc. (NYSE American: SOAR, $1.05, +3.96%) and M2i Global, Inc. (MTWO, $.0752, +1.08%), a company specializing in the development and execution of a complete global value supply chain for critical minerals, today announced key developments in its pending all-stock merger with M2i Global, Inc.. Volato has filed the Registration Statement on Form S-4 with the U.S. Securities and Exchange Commission (the “SEC”), following the SEC’s completion of its review of the initial confidential submission. With the reopening of federal agencies following the recent government shutdown, both companies now anticipate closing the merger in the first quarter of 2026, pending completion of SEC review and shareholder approval.

On Dec. 23, Volato Group, Inc. announced preliminary financial guidance for the fourth quarter and full year ending December 31, 2025, reflecting continued execution against its strategic and balance sheet objectives. For the fourth quarter of 2025, Volato expects to report revenue between $27 million and $28 million. For the full year 2025, the Company anticipates total revenue between $78 million and $79 million, with net income of $6 million to $8 million. These results reflect a year of meaningful progression aligning operational performance with Volato’s long-term growth initiatives and advancing its pending merger with M2i Global, Inc. (OTC: MTWO). During 2025, Volato also made substantial progress strengthening its balance sheet. As of September 30, 2025, the Company reduced total liabilities to $9.5 million, satisfying the debt reduction condition required under its pending merger agreement with M2i Global, Inc. (OTC: MTWO). Volato expects continued improvement in its capital structure as it advances toward a targeted first-quarter 2026 closing of the transaction. “Our 2025 results reflect a year of transformation and disciplined balance sheet execution,” said Mark Heinen, Chief Financial Officer of Volato. “We made significant progress reducing liabilities while sharpening our focus on scalable, technology-driven businesses that are designed to complement and strengthen the M2i Global platform over the long term.”

On Dec. 18, Volato Group, Inc. and M2i Global, Inc. announced that they applaud the recent December 11, 2025 announcement from the U.S. Department of State whereby Pax Silica, a U.S.-led strategic initiative to build a secure, prosperous, and innovation driven silicon supply chain—from critical minerals and energy inputs to advanced manufacturing, semiconductors, AI infrastructure, and logistics, was formed.

Volato Group, Inc. (NYSE American: SOAR) announced recently that it has set a preliminary date of February 26, 2026 and preliminary record date of January 17, 2026 for a special meeting of shareholders to vote on the proposed merger with M2i Global, Inc. (MTWO) and related matters. The preliminary meeting date and record date remain subject to applicable regulatory and exchange requirements, including the effectiveness of Volato’s Registration Statement on Form S-4 (File No. 333-292132) (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission (“SEC”) and the mailing of definitive proxy materials to shareholders. The proposed merger creates a combined company built for scale. M2i Global brings a platform focused on critical minerals and national supply chain resilience, while Volato contributes proven aviation technology, software capability, and an established track record of operational execution. Together, the companies aim to participate in a U.S. critical minerals market estimated at more than $320 billion annually.

Serina Therapeutics (NYSE American: SER, $2.44), Alabama-based biotech is betting its proprietary POZ platform and reimagined approach to apomorphine delivery may redefine the treatment paradigm for patients who have exhausted standard oral therapies. On Dec. 11, Serina announced the appointment of Joshua Thomas, Ph.D., as Vice President and Head of Chemistry. He will oversee internal and external chemistry efforts to optimize POZ-based candidates, supporting efficient translation from discovery through development.

On Dec. 10,Serina announced that it has submitted a complete response to the U.S. Food and Drug Administration’s (“FDA”) clinical hold letter for SER-252, the Company’s lead program for advanced Parkinson’s disease. As previously disclosed, the FDA placed the Company’s Investigational New Drug (“IND”) application for SER-252 on clinical hold pending additional information related to a commonly used formulation excipient. On November 25, 2025, the FDA issued a formal full clinical hold letter specifying the information required to permit initiation of the planned Phase 1b registrational study, SER-252-1b. The issues identified by the FDA do not relate to the apomorphine active drug substance, its mechanism of action, the use of the enFuse device (Enable Injections) or the broader 505(b)(2) NDA development pathway previously discussed with the Agency.

The InterGroup Corporation (NASDAQ: INTG, $26.95) reported (Nov. 17) results for the three months ended September 30, 2025. John V. Winfield, Chairman and Chief Executive Officer, said: “We continue to observe signs of stabilization and recovery across the San Francisco hospitality market, including improving convention calendars, tourism indicators, and business travel activity. On the investment side, our marketable securities activity remained modest with a small net gain, consistent with our emphasis on liquidity and risk discipline.”

DoubleVerify Holdings Inc. (DV) closed at $11.25, +.85%. DoubleVerify, which built its franchise on media verification and ad performance analytics, is now the first badged TikTok Marketing Partner focused specifically on attention measurement, tapping impression-level signals from the platform. Brands gain a granular view of how exposure and user interaction come together across TikTok formats, ad sets, creatives, and objectives, effectively treating every swipe as a tiny A/B test.

Sources

1. https://www.morningstar.com/news/marketwatch/20251224196/sp-500-hits-record-high-on-christmas-eve-for-first-time-in-more-than-a-decade
2. https://wtop.com/news/2025/12/how-major-us-stock-indexes-fared-wednesday-12-24-2025/
3. https://finance.yahoo.com/quote/%5EGSPC/history/
4. https://www.marketwatch.com/story/s-p-500-hits-record-high-on-christmas-eve-for-first-time-in-more-than-a-decade-a784ff23
5. https://www.wdrb.com/news/national/how-major-us-stock-indexes-fared-wednesday-12-24-2025/article_d7d35daf-6c88-5672-a8b0-e573fb537090.html
6. https://www.seattlepi.com/business/how-major-us-stock-indexes-fared-wednesday-a21261032
7. https://ca.finance.yahoo.com/news/shoppers-powering-economy-even-balk-180248955.html
8. https://www.trepp.com/trepptalk/december-2025-fomc-meeting-fed-delivers-third-cut-as-policy-moves-toward-neutral
9. https://americandeposits.com/insights/fomc-reduces-interest-rates-december-2025/
10. https://www.nuveen.com/en-us/insights/investment-outlook/fed-update
11. https://www.bondsavvy.com/fixed-income-investments-blog/fed-dot-plot
12. https://www.home.saxo/content/articles/commodities/gold-and-silver-break-higher-as-us-debt-concerns-eclipse-shutdown-relief-10112025
13. https://www.investing.com/news/stock-market-news/silicon-valley-acquisition-corp-closes-200-million-ipo-on-nasdaq-432SI-4422729
14. https://www.stocktitan.net/news/SVAQ/silicon-valley-acquisition-corp-announces-closing-of-200-million-frrydszhiknw.html
15. https://stockanalysis.com/ipos/2025/
16. https://www.quiverquant.com/news/Social+Commerce+Partners+Corporation+Prices+Initial+Public+Offering+of+10,000,000+Units+at+$10.00+Each
17. https://www.businesswire.com/newsroom/subject/merger-acquisition
18. https://www.facebook.com/ZeeNewsEnglish/posts/gold-prices-jumped-over-05-on-wednesday-to-cross-a-historic-milestone-of-4500-an/1312324154268380/
19. https://www.bbc.com/news/articles/cd74ldr2zryo
20. https://www.reuters.com/business/finance/bitcoins-2025-rollercoaster-may-end-low-2025-12-09/
21. https://www.coindesk.com/markets/2025/12/22/boxing-day-bonanza-usd27-billion-in-bitcoin-ether-options-set-for-year-end-reset
22. https://markets.financialcontent.com/stocks/article/predictstreet-2025-12-24-the-weight-of-innovation-eli-lillys-dominance-in-the-glp-1-era
23. https://ts2.tech/en/eli-lilly-stock-lly-news-on-dec-24-2025-glp-1-pill-rivalry-india-expansion-and-the-latest-analyst-forecasts/
24. https://www.marketbeat.com/instant-alerts/filing-eli-lilly-and-company-lly-stock-position-decreased-by-exchange-traded-concepts-llc-2025-12-24/
25. https://www.zacks.com/stock/news/2808690/nvos-first-oral-obesity-pill-approval-what-does-it-mean-for-lilly
26. https://www.nasdaq.com/articles/nvos-first-oral-obesity-pill-approval-what-does-it-mean-lilly
27. https://www.aol.com/finance/buy-tsm-while-under-400-115900985.html
28. https://www.marketbeat.com/instant-alerts/filing-taiwan-semiconductor-manufacturing-company-ltd-tsm-shares-sold-by-hanson-doremus-investment-management-2025-12-24/
29. https://stockinvest.us/news/TSM
30. https://www.cnbc.com/2025/12/22/stock-market-today-live-updates.html
31. https://www.eoption.com/morning-preview-december-24-2025/
32. https://247wallst.com/investing/2025/10/21/analysts-are-pounding-the-table-over-aapl-tsla-avgo-meta-nvda/
33. https://www.thestreet.com/investing/stocks/daily-market-wrap-micron-palantir-and-opendoor
34. https://finance.yahoo.com/quotes/NVDA,MSFT,AAPL,AMZN,META,GOOGL,GOOG,LLY,TSLA,AVGO
35. https://www.youtube.com/watch?v=nht1lrRMGCk
36. https://www.fxempire.com/forecasts/article/nvda-tsla-and-pltr-forecast-tech-stocks-ready-to-celebrate-christmas-1568980
37. https://www.cnbc.com/2025/12/22/monday-stocks-covered-in-analyst-calls-include-nvidia-oracle-amazon-.html
38. https://www.jamesinvestment.com/market-commentary/market-commentary-december-2025/
39. https://www.nyse.com/ipo-center/recent-ipo
40. https://www.nasdaq.com/market-activity/ipos
41. https://finance.yahoo.com/calendar/ipo?day=2025-12-24
42. https://www.nyse.com/ipo-center/recent-ipo?tblci=GiBNRQkm-rqN28TeGAPrD9h7rlf8i-jHD3faF6eWwxDLaSDwzEYo0siN_KzuoeEb
43. https://www.ropesgray.com/en/insights/alerts/2025/12/dealmakers-digest-december-2025
44. https://www.adexchanger.com/platforms/a-rundown-on-pretty-much-every-ad-tech-deal-of-2025/
45. https://bilello.blog/2025/the-week-in-charts-12-24-25
46. https://www.planadviser.com/advisory-ma-news-12-24-2025/
47. https://www.nasdaq.com/market-activity/spos
48. https://www.benzinga.com/calendars/m-a
49. https://www.investopedia.com/dow-jones-today-12242025-11875790
50. https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-eye-records-nasdaq-gains-as-wall-street-flies-high-into-christmas-holiday-230346174.html
51. https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p-500-and-nasdaq-set-to-pause-after-seven-gains-in-eight-sessions
52. https://seekingalpha.com/article/4855536-eli-lilly-mr-market-finally-woke-up-but-im-not-out-yet-rating-downgrade
53. https://www.reuters.com/sustainability/boards-policy-regulation/lilly-novo-lock-horns-indias-obesity-drug-race-2025-12-24/
54. https://global.morningstar.com/en-nd/stocks/novo-lilly-fda-approval-wegovy-pill-launches-new-obesity-battle
55. https://capital.com/en-int/analysis/eli-lilly-stock-split
56. https://finance.yahoo.com/quote/LLY/
57. https://finance.yahoo.com/news/taiwan-semiconductor-tsm-shares-latest-123530965.html
58. https://finance.yahoo.com/news/bitcoin-buyers-spark-santa-rally-104616677.html
59. https://www.fool.com/investing/2025/12/15/eli-lilly-just-delivered-great-news-to-investors/
60. https://finance.yahoo.com/news/eli-lilly-just-delivered-fantastic-093000391.html

Wall Street tiptoed into the holiday break on Tuesday with the air of a market that has already opened its presents and is now just admiring the wrapping paper. Stocks drifted rather than surged, but under the surface, big tech, nuclear hopefuls and a fresh crop of SPACs kept traders awake enough to postpone that second eggnog.

Indexes: Surfing Into Christmas

The major U.S. indexes spent the day in classic pre-holiday mode with modest moves on light volume, but still cushioned by a stronger growth backdrop. The S&P 500 closed up .46% at 6.906.79, The Dow 30 called up .16% at 48,442.41 & the Nasdaq closed up .57% at 23,561.84, while the small caps cooled off falling .65% at 2,542.20.

The latest economic calendar shows U.S. durable goods orders rebounded 0.5% in December after a 1.5% drop, hinting at firmer capex appetite heading into 2026 even as consensus had braced for another decline. At the same time, an updated GDP release calendar confirms that third‑quarter real GDP grew at a robust 4.3% annual rate, with the Bureau of Economic Analysis rescheduling key releases to land today because of the earlier shutdown, underscoring a growth backdrop strong enough to support equities even as policy normalizes.

Macro: GDP, Confidence, Tariffs and the Shutdown

Washington, despite itself, continues to serve as the market’s favorite unpriced risk factor. The BEA’s latest guidance confirms that the initial estimate for third‑quarter 2025 GDP, released today as part of a revised post‑shutdown schedule, showed 4.3% annualized growth, powered by consumer spending, exports and government outlays even as investment softened. Consumer psychology is less exuberant: December confidence has slipped to its lowest level since President Donald Trump’s new tariff regime took effect in April, reflecting unease about prices and trade even as the headline data still look expansionary. The tariff machine itself remains very much alive; live coverage of the administration’s trade policy shows the White House preparing an additional wave of levies on Chinese semiconductors by mid‑2027, with officials even floating the prospect of $2,000 rebate checks as political lubrication.

The government shutdown that disrupted the data calendar earlier this quarter continues to cast a procedural shadow rather than an existential one. Trade‑facing agencies such as the U.S. Trade Representative have been designated essential, allowing tariff policy and negotiations to proceed even as other functions have been curtailed, limiting immediate market fallout but adding to operational friction for businesses dependent on federal approvals. The Fed, for its part, has already delivered its holiday gift: at its December meeting, the FOMC cut the federal funds rate by 25 basis points to a 3.50%–3.75% target range—the third cut since September—while signaling a more patient stance heading into 2026. The latest dot plot and commentary suggest policymakers now envision the policy rate settling in the low‑3% area by 2027, a path that supports risk assets but leaves enough yield to keep cash from feeling entirely passé. Treasury yields along the curve have firmed a touch since early December—with the two‑ and ten‑year notes both up only single‑digit basis points—leaving the curve still relatively flat but far less ominously inverted than during the 2022–2023 tightening cycle.

Commodities and Crypto: Quiet Shine, Measured Drip

Outside of equities, the year‑end picture is one of controlled enthusiasm. Gold remains the overachiever of 2025 closing at $4.517.30/oz.: global market summaries highlight that bullion recently notched fresh record highs, with spot prices grinding higher again this week as investors hedge policy and geopolitical risk even against a backdrop of strong growth. Silver also jumped a out +3.92% today to close above $70 at $71.275/oz. Oil closed $58.46, +.78% today and has been behaving more like a disciplined guest than a life‑of‑the‑party spoiler—recent quotes show West Texas Intermediate easing fractionally in global trading, reflecting ample supply, steady demand and a market that has apparently decided to postpone its next crisis until after the holidays. Bitcoin traded near the $88k level again today and other major cryptocurrencies, meanwhile, continue to trade with a gentle upward bias, with recent data showing incremental gains alongside modest moves in ether, giving digital‑asset bulls just enough validation to keep their year‑end decks bullish.

IPOs, SPACs and Deal Flow

Even this late in December, the new‑issue calendar refuses to fully shut down for the holidays. On the IPO front, the SPAC complex is doing the heavy lifting: Silicon Valley Acquisition Corp. has priced a $200 million initial public offering at $10 per unit, with 20 million units listing on Nasdaq under the ticker SVAQU starting today and each unit bundling one Class A share and half of a warrant exercisable at $11.50. Industry trackers note that this deal joins a wave of late‑year blank‑check listings, with specialized sites flagging multiple SPAC pricings this month and pushing 2025’s SPAC count well past last year’s tally. Across the broader U.S. market, IPO statisticians report that 2025 has already produced roughly 347 offerngs, more than 55% above 2024’s pace by this point in the year, fueled by large‑cap deals such as Medline’s (MDLN, $43.70, +3.60%) multibillion‑dollar float and continued appetite for growth and AI‑adjacent stories.

Traditional M&A is finishing the year with a flourish, even if today’s tape lacks a single market‑defining blockbuster. In media and software, Warner Bros. Discovery’s strategic maneuvers have helped frame a 2025 deal environment that has already seen ServiceNow agree to buy cybersecurity firm Armis for about $7.75 billion, expanding its security footprint just as AI‑driven observability becomes critical to large enterprises. Tech and infrastructure consolidation remains a major theme: IBM has closed or announced multiple large transactions over the year—among them the completed $6.4 billion acquisition of HashiCorp and an $11 billion agreement for streaming‑data specialist Confluent—while industry surveys continue to highlight that U.S. and global deal counts remain below 2021’s euphoria but structurally healthy for late‑cycle conditions. In advertising and media, specialists tally more than 400 deals this year across martech, adtech and digital content platforms, with 2025 on track to surpass 2024’s total and confirm that scale, data and targeted AI remain the dominant acquisition currencies heading into 2026.

Single‑Name Highlights: Pharmaceuticals, Chips & AI

A cluster of marquee names drove much of today’s narrative as markets continued to sort long‑duration growth from tactical trades. In pharmaceuticals, Eli Lilly (LLY) remains at the center of the obesity‑drug and diabetes trade, with recent coverage emphasizing how the company’s weight‑loss franchise has reshaped expectations for long‑term revenue and margins even as investors now parse each update for hints about capacity, pricing and competition. In semiconductors, Taiwan Semiconductor Manufacturing Company (TSM, $297.44, +1.42%), Nvidia (NVDA, $189.21, +3.01%), Micron Technology and Intel all sit at the intersection of strong AI demand and evolving trade policy; the administration’s latest tariff roadmap explicitly targets Chinese chips with new levies slated for mid‑2027, a long‑dated overhang that could reshape global foundry and memory investment even if near‑term demand for AI accelerators remains robust. Nvidia in particular continues to benefit from the AI infrastructure boom highlighted in recent global‑equity reports, which note that megacap AI names such as Tesla and Nvidia have led the latest leg of the global rally, helping the S&P 500 erase earlier December losses and putting it on course for an unusually long monthly winning streak.

Apple (AAPL, $272.36, +.56%), Meta (META, $664.94, +.52%) and other platform giants remain in the slipstream of this trade, with investors treating them as the “cash‑flow ballast” for portfolios tilted toward AI‑hardware winners and high‑beta software names. Broadcom’s (AVGO, $349.32, +2.30%) strategic positioning in custom silicon and connectivity continues to anchor it firmly to the AI data‑center build‑out, as large‑cap tech M&A throughout 2025 has reinforced the value of integrated hardware‑software stacks in the cloud and networking layers. Nokia (NOK, $6.53), sitting farther from the AI spotlight, remains more directly exposed to global 5G and network‑spending cycles; infrastructure consolidation such as HPE’s completed $13.4 billion acquisition of Juniper Networks this summer underscores the intense competition in the carrier and enterprise‑network stack in which Nokia must continue to defend share.

Nuclear, Real Estate Tech and Defense‑Grade Data

Among the more speculative darlings, Oklo (OKLO, $81.88) continues to trade like a proxy on the entire advanced‑nuclear thesis rather than a conventional utility. Recent analyses show that after peaking near $175 in October, the stock has fallen more than 50% but still sports year‑to‑date gains north of 250%, with a market cap in the low‑teens billions and a share price in the low‑$80s today on an intraday range roughly between $80.80 and $84.95. Commentators have flagged that valuation as a high‑risk bet on a 14‑gigawatt customer pipeline and regulatory progress, but also as a reminder that Oklo remains pre‑revenue, with operating losses, share issuance and execution risk all squarely on the table for 2026 and beyond.

In housing and real‑estate technology, Opendoor (OPEN, $6.27) has spent most of 2025 as a “volatility with a ticker” story, as the company’s AI‑driven pricing and acquisition strategy runs headlong into a still‑fragile housing market. Recent coverage this month noted a single‑day slide of more than 7%, tied in part to insider selling and persistent operating losses, even as separate analysis points out that the shares have nonetheless surged more than 300% this year on hopes that a “default to AI” strategy can finally deliver breakeven by 2026.

Palantir Technologies (PLTR, $194.13, +.08%) sits in a more mature corner of the AI story, with 2025 marked by continued contract wins and expansion of its government and commercial analytics platforms to ride the same data‑intensive wave reshaping cyber, cloud and observability markets. Oracle likewise continues to pitch itself as a cloud‑and‑data hybrid rather than a legacy software vendor, benefiting indirectly from the same AI data‑center build‑out that has lifted Nvidia and Broadcom, even as it faces intense competition from hyperscalers and the next generation of AI‑native platforms. McDonald’s, Rio Tinto (RIO, $80.97, +1.09%) and other more cyclical or commodity‑exposed names, meanwhile, remain tied to the macro narrative: a 4.3% GDP growth rate, record gold and firm but orderly oil prices are generally good news for miners and consumer bellwethers, though the resilience of tariffs and the potential for renewed trade friction in 2026 ensure that even the most global of brands will not be spared the occasional macro headline risk.

Vista Partners Watchlist Updates

Modular Medical, Inc. (Nasdaq: MODD., $.3337), a leader in innovative insulin delivery technology targeting the $3 billion adult “almost-pumpers” diabetes market with user-friendly, affordable patch pumps, announced (Dec. 10) that it had priced an underwritten public offering (the “offering”) of 12,173,000 shares of its common stock and accompanying warrants to purchase 6,086,500 shares of its common stock. Each two shares of common stock are being offered and sold together with one accompanying warrant at a combined offering at a price of $0.77, yielding an effective price of $0.38 per share and $0.01 per warrant. The warrants will have an exercise price of $0.45 per share, are exercisable immediately upon issuance and will expire five years following the date of issuance. In connection with the offering, Modular Medical has granted the underwriter a 30-day option to purchase up to an additional 15% of common shares and/or warrants at the public offering price, less underwriting discounts and commissions. The over-allotment option may be elected with respect to, at the underwriter’s sole discretion, shares and warrants together, solely shares, solely warrants, or any combination thereof. Newbridge Securities Corporation is acting as the sole bookrunner for the offering. Assuming no exercise of the over-allotment option, the gross proceeds to the Company from the offering are expected to be approximately $4.68 million, before deducting underwriting discounts, commissions, and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering to fund operations and for working capital and general corporate purposes, including capital expenditures.

On Nov. 17, Modular announced Institutional Review Board (“IRB”) approval to conduct an in-house study of its next-generation Pivot™ insulin delivery system using insulin on people with diabetes (the “Study”). Pursuant to U.S. Food and Drug Administration (“FDA”) regulations, an IRB is a group that has been formally designated to review and monitor biomedical research involving human subjects. The Study will simulate real-world conditions by delivering insulin to adult participants to gather critical data on device function and usability and obtain user feedback. Modular Medical’s Pivot tubeless patch pump aims to enhance accessibility for underserved patients with diabetes and drive market penetration and expansion.

On Nov. 14, Modular Medical announced the 510(k) premarket submission of its next generation Pivot™ tubeless patch pump to the U.S. Food and Drug Administration (the “FDA”). The Company expects to commence the commercial launch of its Pivot pump in Q1 2026. On Nov. 3, Modular Medical the successful validation of its Pivot controller line, a critical milestone in preparing for the commercial launch of its Pivot patch pump targeted for Q1 2026. The Pivot controller line validation further demonstrates manufacturing readiness for high-volume production, positioning Modular Medical to meet the growing demand in the diabetes treatment market for advanced technology.

Eupraxia Pharmaceuticals Inc. (NASDAQ: EPRX, $7.19, +2.71%), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology to optimize local, controlled drug delivery for diseases with significant unmet need, announced (Nov. 13) the second set of 52-week follow up data from its ongoing Phase 1b/2a RESOLVE trial evaluating a single administration EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). James A. Helliwell, Chief Executive Officer of Eupraxia stated,“These data further highlight the strong durability and tolerability profile of EP-104GI, reinforcing its potential to become a convenient, once-a-year treatment that fits seamlessly into routine disease management by aligning with annual patient endoscopies. The Cohorts 5 & 6 patients – the only groups to have reached 52 weeks in the trial – are demonstrating levels of symptom relief that is durable and clinically meaningful – we are very encouraged by this outcome. We’re also pleased that our previously announced 52-week data were presented as a late-breaking presentation at the American College of Gastroenterology Annual Scientific Meeting (ACG). These new results build on that momentum. Given that current EoE therapies often struggle with long-term adherence, we believe a durable, once-yearly treatment could meaningfully improve patient outcomes and establish EP-104GI as a preferred option for both physicians and their patients.”

GeoVax Labs, Inc. (Nasdaq: GOVX, $.1907, +10.68%), a clinical-stage biotechnology company developing multi-antigen vaccines and immunotherapies for infectious diseases and cancer, announced (Dec. 19) that it has entered into definitive securities purchase agreements with several institutional and individual investors for the purchase and sale of approximately 13.2 million units, each comprised of one share of the Company’s common stock and warrants, as described below, to purchase shares of the Company’s common stock, at a price of $0.245 per unit in a public offering. The Company will issue warrants to purchase up to approximately 26.5 million shares of common stock. The warrants will have an exercise price of $0.245 per share, will be exercisable immediately following the date of issuance and will have a term of five years following the date of issuance. Roth Capital Partners is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from this offering are expected to be approximately $3.2 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The closing of the offering is expected to occur on or about December 22, 2025, subject to the satisfaction of customary closing conditions.

GeoVax announced (Dec. 18) the publication of a peer-reviewed article in Frontiers in Immunology titled: “Multi-antigen MVA-vectored SARS-CoV-2 vaccine, GEO-CM04S1, induces cross-protective immune responses to ancestral and Omicron variants.” The study provides definitive preclinical evidence that GeoVax’s multi-antigen COVID-19 vaccine candidate, GEO-CM04S1, delivers full cross-variant protection, driven predominantly by robust T-cell responses, even in the absence of neutralizing antibodies. The findings reinforce the design philosophy behind GeoVax’s MVA-based, multi-antigen platform and provide mechanistic insight that is increasingly relevant for immunocompromised individuals, who often fail to respond optimally to the first-generation COVID-19 vaccines.

GeoVax announced (Dec. 17) the successful completion of fill-finish for the initial clinical batch of GEO-MVA, its next-generation Mpox/smallpox vaccine. The product has now entered final release evaluation, the concluding quality-control and compliance process required before shipment for clinical use, positioning the Company for Phase 3 immunobridging trial start-up activities in Q1 2026. Fill-finish – the sterile, cGMP-regulated process of filling, sealing, and packaging vaccine vials – marks the last manufacturing step before a vaccine may enter clinical study supply channels. With fill-finish complete and GEO-MVA now undergoing final release evaluation, GeoVax has moved into the final pre-clinical-deployment phase of its EMA-aligned clinical program. In June 2025, the European Medicines Agency (EMA) Scientific Advice confirmed that a single Phase 3 immunobridging study demonstrating immune comparability to the approved MVA vaccine, Imvanex(R), would be sufficient to evaluate GEO-MVA’s efficacy. This provides a clear, accelerated regulatory path to licensure. This milestone coincides with increasing Mpox activity globally – including expanding Clade I outbreaks in Africa and emerging cases in the United States – exposing vulnerabilities associated with global dependence on a sole foreign MVA vaccine supplier. GEO-MVA is designed to expand supply, diversify sources, and strengthen biodefense infrastructure.

Volato Group, Inc. (NYSE American: SOAR, $1.0087) and M2i Global, Inc. (MTWO, $.071), a company specializing in the development and execution of a complete global value supply chain for critical minerals, today announced key developments in its pending all-stock merger with M2i Global, Inc.. Volato has filed the Registration Statement on Form S-4 with the U.S. Securities and Exchange Commission (the “SEC”), following the SEC’s completion of its review of the initial confidential submission. With the reopening of federal agencies following the recent government shutdown, both companies now anticipate closing the merger in the first quarter of 2026, pending completion of SEC review and shareholder approval.

On Dec. 23, Volato Group, Inc. announced preliminary financial guidance for the fourth quarter and full year ending December 31, 2025, reflecting continued execution against its strategic and balance sheet objectives. For the fourth quarter of 2025, Volato expects to report revenue between $27 million and $28 million. For the full year 2025, the Company anticipates total revenue between $78 million and $79 million, with net income of $6 million to $8 million. These results reflect a year of meaningful progression aligning operational performance with Volato’s long-term growth initiatives and advancing its pending merger with M2i Global, Inc. (OTC: MTWO). During 2025, Volato also made substantial progress strengthening its balance sheet. As of September 30, 2025, the Company reduced total liabilities to $9.5 million, satisfying the debt reduction condition required under its pending merger agreement with M2i Global, Inc. (OTC: MTWO). Volato expects continued improvement in its capital structure as it advances toward a targeted first-quarter 2026 closing of the transaction. “Our 2025 results reflect a year of transformation and disciplined balance sheet execution,” said Mark Heinen, Chief Financial Officer of Volato. “We made significant progress reducing liabilities while sharpening our focus on scalable, technology-driven businesses that are designed to complement and strengthen the M2i Global platform over the long term.”

On Dec. 18, Volato Group, Inc. and M2i Global, Inc. announced that they applaud the recent December 11, 2025 announcement from the U.S. Department of State whereby Pax Silica, a U.S.-led strategic initiative to build a secure, prosperous, and innovation driven silicon supply chain—from critical minerals and energy inputs to advanced manufacturing, semiconductors, AI infrastructure, and logistics, was formed.

Volato Group, Inc. (NYSE American: SOAR) announced recently that it has set a preliminary date of February 26, 2026 and preliminary record date of January 17, 2026 for a special meeting of shareholders to vote on the proposed merger with M2i Global, Inc. (MTWO) and related matters. The preliminary meeting date and record date remain subject to applicable regulatory and exchange requirements, including the effectiveness of Volato’s Registration Statement on Form S-4 (File No. 333-292132) (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission (“SEC”) and the mailing of definitive proxy materials to shareholders. The proposed merger creates a combined company built for scale. M2i Global brings a platform focused on critical minerals and national supply chain resilience, while Volato contributes proven aviation technology, software capability, and an established track record of operational execution. Together, the companies aim to participate in a U.S. critical minerals market estimated at more than $320 billion annually.

Serina Therapeutics (NYSE American: SER, $2.57), Alabama-based biotech is betting its proprietary POZ platform and reimagined approach to apomorphine delivery may redefine the treatment paradigm for patients who have exhausted standard oral therapies. On Dec. 11, Serina announced the appointment of Joshua Thomas, Ph.D., as Vice President and Head of Chemistry. He will oversee internal and external chemistry efforts to optimize POZ-based candidates, supporting efficient translation from discovery through development.

On Dec. 10,Serina announced that it has submitted a complete response to the U.S. Food and Drug Administration’s (“FDA”) clinical hold letter for SER-252, the Company’s lead program for advanced Parkinson’s disease. As previously disclosed, the FDA placed the Company’s Investigational New Drug (“IND”) application for SER-252 on clinical hold pending additional information related to a commonly used formulation excipient. On November 25, 2025, the FDA issued a formal full clinical hold letter specifying the information required to permit initiation of the planned Phase 1b registrational study, SER-252-1b. The issues identified by the FDA do not relate to the apomorphine active drug substance, its mechanism of action, the use of the enFuse device (Enable Injections) or the broader 505(b)(2) NDA development pathway previously discussed with the Agency.

The InterGroup Corporation (NASDAQ: INTG, $27.55, +9.76%) reported (Nov. 17) results for the three months ended September 30, 2025. John V. Winfield, Chairman and Chief Executive Officer, said: “We continue to observe signs of stabilization and recovery across the San Francisco hospitality market, including improving convention calendars, tourism indicators, and business travel activity. On the investment side, our marketable securities activity remained modest with a small net gain, consistent with our emphasis on liquidity and risk discipline.”

DoubleVerify Holdings Inc. (DV) closed at $11.25.. DoubleVerify, which built its franchise on media verification and ad performance analytics, is now the first badged TikTok Marketing Partner focused specifically on attention measurement, tapping impression-level signals from the platform. Brands gain a granular view of how exposure and user interaction come together across TikTok formats, ad sets, creatives, and objectives, effectively treating every swipe as a tiny A/B test.

Sources

1. https://tradingeconomics.com/united-states/calendar
2. https://www.bea.gov
3. https://www.bea.gov/news/blog/2025-11-24/economic-release-schedule-updates-0
4. https://www.usnews.com/news/business/articles/2025-12-23/consumer-confidence-slides-in-december-to-lowest-level-since-us-tariffs-rolled-out-in-april
5. https://finance.yahoo.com/news/live/trump-tariffs-live-updates-us-to-impose-tariffs-on-chinese-chips-in-mid-2027-hassett-says-2k-rebate-checks-likely-231853525.html
6. https://www.bondsavvy.com/fixed-income-investments-blog/fed-dot-plot
7. https://finance.yahoo.com/news/government-shutdown-raises-questions-status-201236929.html
8. https://www.cnbc.com/2025/12/10/fed-interest-rate-decision-december-2025-.html
9. https://www.nnrglobal.com/insight/u-s-government-shutdown-update-2025/
10. https://tradingeconomics.com/united-states/interest-rate
11. https://www.ndtvprofit.com/markets/global-stock-market-news-december-23-dow-jones-nikkei-hang-seng-s-and-p-500-nasdaq
12. https://stockanalysis.com/ipos/2025/
13. https://www.quiverquant.com/news/Silicon+Valley+Acquisition+Corp.+Announces+Pricing+of+Initial+Public+Offering+of+20+Million+Units
14. https://www.investing.com/news/stock-market-news/silicon-valley-acquisition-corp-prices-200-million-ipo-at-10-per-unit-432SI-4420202
15. https://www.spacinsider.com/news/new-ipos
16. https://www.globenewswire.com/news-release/2025/12/22/3209575/0/en/Silicon-Valley-Acquisition-Corp-Announces-Pricing-of-200-Million-Initial-Public-Offering.html
17. https://www.iposcoop.com
18. https://www.investors.com/news/ipo-stocks-klarna-circle-internet-figma/
19. https://www.crn.com/news/channel-news/2025/the-10-biggest-tech-m-a-deals-of-2025
20. https://www.bloomberg.com/news/newsletters/2025-12-23/warner-bros-discovery-s-masterful-m-a-move
21. https://www.paulweiss.com/insights/client-memos/ma-at-a-glance-december-2025
22. https://www.adweek.com/media/2025-m-a-mergers-acquisitions-deals-media-advertising-list/
23. https://robinhood.com/us/en/stocks/OKLO/
24. https://www.fool.com/investing/2025/12/22/is-oklo-stock-a-buy-now/
25. https://www.ainvest.com/news/oklo-stock-high-risk-speculative-bet-strategic-play-future-nuclear-energy-2512/
26. https://finance.yahoo.com/quote/OKLO/
27. https://stockstotrade.com/news/opendoor-technologies-inc-open-news-2025_12_12/
28. https://www.fool.com/investing/2025/12/19/opendoor-technologies-stock-320-in-2025-buy-2026/
29. https://finance.yahoo.com/quote/OPEN/history/
30. https://www.zacks.com/stock/news/2808104/will-opendoors-default-to-ai-strategy-deliver-real-returns
31. https://www.npr.org/2025/12/23/nx-s1-5651932/economy-delayed-gdp-tariffs
32. https://www.politico.com/news/2025/12/23/trump-economy-consumer-spending-00704326
33. https://thehill.com/homenews/administration/5660934-donald-trump-tariffs-ecnomy-gdp/
34. https://www.ksat.com/news/politics/2025/12/23/a-look-at-the-experts-racing-to-decode-trumps-tariff-rules/
35. https://www.whitehouse.gov/presidential-actions/2025/12/providing-for-the-closure-of-executive-departments-and-agencies-of-the-federal-government-on-december-24-2025-and-december-26-2025/
36. https://finance.yahoo.com/news/government-shutdown-raises-questions-status-212147065.html
37. https://www.benzinga.com/calendars/m-a
38. https://www.stocktitan.net/sec-filings/IAS/8-k-integral-ad-science-holding-corp-reports-material-event-ab6c511cb4cd.html
39. https://www.reddit.com/r/Tariffs/comments/1nzmtdg/5_days_into_the_shutdown_politics_just_became_a/
40. https://www.schwab.com/learn/story/fomc-meeting
41. https://www.nasdaq.com/market-activity/ipos
42. https://finviz.com/news/260747/first-the-generation-essentials-group-sponsored-spac-announces-successful-closing-of-150-million-ipo
43. https://fred.stlouisfed.org/releases/calendar
44. https://www.newyorkfed.org/research/calendars/nationalecon_cal
45. https://www.marketwatch.com/economy-politics/calendar
46. https://www.dow-jones-djia.com/2025/12/23/the-dow-market-happenings-for-tuesday-december-23-2025-ibm-ibm-302-79-up-37-74-ytd/
47. https://www.census.gov/economic-indicators/calendar-listview.html
48. https://www.cnbc.com/2025/11/23/stock-market-today-live-updates.html
49. https://tradingeconomics.com/calendar
50. https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-firm-opening-us-asian-markets-gain-liveblog-13738255.html
51. https://www.wastedive.com/news/2025-notable-waste-and-recycling-acquisitions/808593/
52. https://us.econoday.com
53. https://blog.liquide.life/liquide-post-market-summary-23rd-december-2025/
54. https://www.atlantafed.org/cqer/research/gdpnow
55. https://nz.finance.yahoo.com/calendar/ipo?day=2025-12-23
56. https://stockinvest.us/stock/OPEN
57. https://www.stocktitan.net/news/SCPQ/social-commerce-partners-corporation-announces-pricing-of-100-000-ol6kz6tb8cby.html
58. https://www.nyse.com/ipo-center/recent-ipo
59. https://www.perplexity.ai/finance/OKLO/history

Wall Street opened the final Christmas week of 2025 in a festive mood, with equities drifting higher in to record territory as if trying on a Santa rally for size without quite committing to the full costume, however the smalls seem to be fully committed to a Santa Rally somewhat surging today.

S&P 500: Holiday Glide Path

The S&P 500 rose about 0.6% to roughly 6,878, edging back toward its mid‑December record as large‑cap tech and AI beneficiaries reclaimed their role as market narrative drivers. Traders framed the move as a comfortable extension of last week’s rebound, helped by softer inflation data and the view that the Fed’s rate‑cut path into 2026 remains more friend than foe, at least for now.

Dow 30: Old Economy, New High Ground

The Dow Jones Industrial Average added roughly 0.5%, keeping it within striking distance of its recent closing peak near 48,700 as financials, industrials and select consumer names carried the baton. Beneath the surface, breadth remained respectable rather than euphoric, reinforcing the sense of a late‑year grind higher rather than a melt‑up, which suits value‑oriented investors just fine..

Nasdaq: Tech Rediscovers Holiday Cheer

The Nasdaq Composite gained about 0.52%, aided by renewed interest in AI and semiconductor leaders that had wobbled earlier in the month. With tech still trading at valuations that assume both immaculate Fed policy and frictionless AI adoption, Monday’s tape looked like investors were willing to suspend disbelief for at least one more session.

Russell 2000: Small Caps Climb

The Russell 2000 added solidly up 1.16% to close at 2,558.78, narrowing its underperformance gap versus the S&P 500 as rate‑cut hopes continued to offer tentative support to more levered and domestically focused names. Even so, the index continues to trade like the designated worrier in the room, reflecting concerns about higher funding costs and uneven earnings momentum below the mega‑cap tier.

Macroeconomic Notes and Fed Watch

Monday’s U.S. economic calendar was relatively light, with investors still digesting recent data showing cooling inflation and an uneven but positive growth backdrop into year‑end. The focus remains squarely on upcoming Q3 GDP revisions, confidence readings and durable‑goods indicators, which will help confirm whether the slowdown narrative is a soft landing or just a soft opening.

FOMC‑wise, markets are still parsing December’s cut, which lowered the funds rate to the 3.5–3.75% range, and are looking ahead to minutes due this week for clues on how many additional reductions might arrive in 2026. Futures continue to price a friendly path, while Fed commentary has tried to balance easing with persistent inflation pressures, particularly those linked to tariffs and elevated services costs.

The federal government shutdown that stretched into November remains in the rearview mirror, but the temporary funding patch through late January keeps a non‑trivial risk of renewed dysfunction on the early‑2026 docket. For now, the market is treating the episode as a modest growth and data‑release speed bump rather than a structural shock, though the cumulative toll on confidence and planning is still being tallied.

Treasury yields held in a relatively contained range, with the 10‑year closing at 4.168% ad the 2-year closing at 3.509%. The shape of the curve still whispers “late cycle,” but the recent drift toward a gentle steepening has encouraged those hoping the landing will be more textbook than cautionary tale.

Gold & Silver Shine, Bitcoin Behaves (Mostly), & Oil Drifts

Gold prices climbed toward record territory again closing at $4,481.50/oz., supported by lower real yields, lingering geopolitical tension and ongoing demand for a hedge against both inflation and policy missteps.
Silver joined the move higher, acting like gold’s slightly more excitable cousin, while the rally in both metals subtly reminded equity investors that faith in fiat still comes with an option premium. Silver closed at another high $69.085/oz.

Oil prices traded higher to $57.96/bbl, as supply discipline from producers met questions about global demand in a high‑tariff, moderate‑growth world. Energy equities, accordingly, remained more tactical trading vehicles than conviction holdings, with intraday moves tied closely to every fresh headline on output and shipping.

Bitcoin spent the day consolidating around the $88k range.

Corporate Highlights: AI Complex and Blue‑Chip Mix

Across the high‑profile names on today’s watchlist, trading was driven more by positioning, analyst commentary and the broader AI sentiment than by blockbuster company‑specific headlines.

• Eli Lilly (LLY, $1,076.48, +.47%) continued to trade as a premium growth staple, its obesity and diabetes franchise keeping it a favored defensive‑growth vehicle as investors balance valuation against the durability of its pipeline.
• Taiwan Semiconductor (TSM, $293.28, +1.50%) remained central to the AI hardware narrative, with shares reflecting ongoing demand for advanced nodes even as investors debate how much 2026 capacity has already been priced in.
• NVIDIA (NVDA, $183.69, +1.49%) saw active interest as a core AI bellwether, with analyst calls once again highlighting its data‑center strength and central role in the broader AI capex cycle.
• Micron (MU, $276.59, +4.01%) traded as a leveraged bet on AI memory demand and cyclical DRAM/NAND recovery, continuing its role as a higher‑beta semiconductor proxy.
• Apple (AAPL, $270.97, -.99%) held its footing as a cash‑flow and services story, with investors weighing incremental AI features and ecosystem stickiness against a mature smartphone market.
• Tesla (TSLA, $488.73., +1.56%) moved in line with broader growth sentiment, as debates over EV demand, margins and autonomous ambitions remained unresolved but far from ignored.
• Broadcom (AVGO, $341.45, +.51%) benefited from continued enthusiasm about its exposure to networking, custom chips and software, solidifying its reputation as an AI infrastructure toll collector.
• Meta Platforms (META, $661.50, +.41%) balanced its AI and Reels ambitions with ongoing cost‑discipline narratives, trading as both an ad‑recovery and efficiency story.
• Nokia (NOK, $6.54, +.62%) stayed tied to the 5G and network‑equipment cycle, where pricing pressure and capex scrutiny keep investor expectations conservative, shares still edged upward.
• McDonald’s (MCD, $316.22, +.12%) maintained its status as a defensive consumer bellwether, with investors still rewarding pricing power and drive‑through resilience in a choppy macro environment.
• Rio Tinto Group (RIO, $80.10, +2.27%) book $80 level for the first time in a while and reflected the usual mix of China‑sensitive commodity demand and capital‑discipline expectations that define the major miners late in a cycle.
• Oracle (ORCL, $198.38, +3.34%) remained in focus after recent analyst attention on its cloud and AI‑adjacent workloads, trading as a legacy‑to‑cloud transition story with improving credibility. On a side note oracles founder, Larry Ellison committed to backing ($40.4B) Paramount’s proposed acquisition of Warner Bros.
• Intel (INTC, $36.37, -1.2%) continued its multi‑year effort to reassert itself in advanced foundry and CPU markets, its stock functioning as a referendum on whether patience will ultimately be rewarded.
• OKLO ($83.44, +.25%), as a next‑gen nuclear‑energy play, stayed a niche but closely watched name for investors betting on long‑dated decarbonization and energy‑security themes.
• Opendoor (OPEN, $6.42,+.94%) traded as a leveraged bet on housing liquidity and i‑Buyer model viability, sensitive to every tick in mortgage rates and existing‑home sales.
• Palantir Technologies (PLTR, $193.98, +.31%) remained a focal point among AI and defense‑software enthusiasts, with its pipeline of government and commercial contracts keeping sentiment constructive despite rich expectations.

M&A

Alphabet (GOOG, $311.33, +.88%) has agreed to acquire Intersect, a data center and energy infrastructure specialist, in a transaction valued at about $4.75 billion in cash plus assumed debt, adding a fresh jolt of capacity to power its AI ambitions.

The target brings “multiple gigawatts” of energy and data center projects that are either being built or still on the drawing board, effectively letting Alphabet buy time in a market where construction timelines have become the new bottleneck for AI growth.

Vista Partners Watchlist Updates

Modular Medical, Inc. (Nasdaq: MODD., $.3405), a leader in innovative insulin delivery technology targeting the $3 billion adult “almost-pumpers” diabetes market with user-friendly, affordable patch pumps, announced (Dec. 10) that it had priced an underwritten public offering (the “offering”) of 12,173,000 shares of its common stock and accompanying warrants to purchase 6,086,500 shares of its common stock. Each two shares of common stock are being offered and sold together with one accompanying warrant at a combined offering at a price of $0.77, yielding an effective price of $0.38 per share and $0.01 per warrant. The warrants will have an exercise price of $0.45 per share, are exercisable immediately upon issuance and will expire five years following the date of issuance. In connection with the offering, Modular Medical has granted the underwriter a 30-day option to purchase up to an additional 15% of common shares and/or warrants at the public offering price, less underwriting discounts and commissions. The over-allotment option may be elected with respect to, at the underwriter’s sole discretion, shares and warrants together, solely shares, solely warrants, or any combination thereof. Newbridge Securities Corporation is acting as the sole bookrunner for the offering. Assuming no exercise of the over-allotment option, the gross proceeds to the Company from the offering are expected to be approximately $4.68 million, before deducting underwriting discounts, commissions, and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering to fund operations and for working capital and general corporate purposes, including capital expenditures.

On Nov. 17, Modular announced Institutional Review Board (“IRB”) approval to conduct an in-house study of its next-generation Pivot™ insulin delivery system using insulin on people with diabetes (the “Study”). Pursuant to U.S. Food and Drug Administration (“FDA”) regulations, an IRB is a group that has been formally designated to review and monitor biomedical research involving human subjects. The Study will simulate real-world conditions by delivering insulin to adult participants to gather critical data on device function and usability and obtain user feedback. Modular Medical’s Pivot tubeless patch pump aims to enhance accessibility for underserved patients with diabetes and drive market penetration and expansion.

On Nov. 14, Modular Medical announced the 510(k) premarket submission of its next generation Pivot™ tubeless patch pump to the U.S. Food and Drug Administration (the “FDA”). The Company expects to commence the commercial launch of its Pivot pump in Q1 2026. On Nov. 3, Modular Medical the successful validation of its Pivot controller line, a critical milestone in preparing for the commercial launch of its Pivot patch pump targeted for Q1 2026. The Pivot controller line validation further demonstrates manufacturing readiness for high-volume production, positioning Modular Medical to meet the growing demand in the diabetes treatment market for advanced technology.

Eupraxia Pharmaceuticals Inc. (NASDAQ: EPRX, $7, +6.71%), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology to optimize local, controlled drug delivery for diseases with significant unmet need, announced (Nov. 13) the second set of 52-week follow up data from its ongoing Phase 1b/2a RESOLVE trial evaluating a single administration EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). James A. Helliwell, Chief Executive Officer of Eupraxia stated,“These data further highlight the strong durability and tolerability profile of EP-104GI, reinforcing its potential to become a convenient, once-a-year treatment that fits seamlessly into routine disease management by aligning with annual patient endoscopies. The Cohorts 5 & 6 patients – the only groups to have reached 52 weeks in the trial – are demonstrating levels of symptom relief that is durable and clinically meaningful – we are very encouraged by this outcome. We’re also pleased that our previously announced 52-week data were presented as a late-breaking presentation at the American College of Gastroenterology Annual Scientific Meeting (ACG). These new results build on that momentum. Given that current EoE therapies often struggle with long-term adherence, we believe a durable, once-yearly treatment could meaningfully improve patient outcomes and establish EP-104GI as a preferred option for both physicians and their patients.”

GeoVax Labs, Inc. (Nasdaq: GOVX, $.1723, +8.23%), a clinical-stage biotechnology company developing multi-antigen vaccines and immunotherapies for infectious diseases and cancer, announced (Dec. 19) that it has entered into definitive securities purchase agreements with several institutional and individual investors for the purchase and sale of approximately 13.2 million units, each comprised of one share of the Company’s common stock and warrants, as described below, to purchase shares of the Company’s common stock, at a price of $0.245 per unit in a public offering. The Company will issue warrants to purchase up to approximately 26.5 million shares of common stock. The warrants will have an exercise price of $0.245 per share, will be exercisable immediately following the date of issuance and will have a term of five years following the date of issuance. Roth Capital Partners is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from this offering are expected to be approximately $3.2 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The closing of the offering is expected to occur on or about December 22, 2025, subject to the satisfaction of customary closing conditions.

GeoVax announced (Dec. 18) the publication of a peer-reviewed article in Frontiers in Immunology titled: “Multi-antigen MVA-vectored SARS-CoV-2 vaccine, GEO-CM04S1, induces cross-protective immune responses to ancestral and Omicron variants.” The study provides definitive preclinical evidence that GeoVax’s multi-antigen COVID-19 vaccine candidate, GEO-CM04S1, delivers full cross-variant protection, driven predominantly by robust T-cell responses, even in the absence of neutralizing antibodies. The findings reinforce the design philosophy behind GeoVax’s MVA-based, multi-antigen platform and provide mechanistic insight that is increasingly relevant for immunocompromised individuals, who often fail to respond optimally to the first-generation COVID-19 vaccines.

GeoVax announced (Dec. 17) the successful completion of fill-finish for the initial clinical batch of GEO-MVA, its next-generation Mpox/smallpox vaccine. The product has now entered final release evaluation, the concluding quality-control and compliance process required before shipment for clinical use, positioning the Company for Phase 3 immunobridging trial start-up activities in Q1 2026. Fill-finish – the sterile, cGMP-regulated process of filling, sealing, and packaging vaccine vials – marks the last manufacturing step before a vaccine may enter clinical study supply channels. With fill-finish complete and GEO-MVA now undergoing final release evaluation, GeoVax has moved into the final pre-clinical-deployment phase of its EMA-aligned clinical program. In June 2025, the European Medicines Agency (EMA) Scientific Advice confirmed that a single Phase 3 immunobridging study demonstrating immune comparability to the approved MVA vaccine, Imvanex(R), would be sufficient to evaluate GEO-MVA’s efficacy. This provides a clear, accelerated regulatory path to licensure. This milestone coincides with increasing Mpox activity globally – including expanding Clade I outbreaks in Africa and emerging cases in the United States – exposing vulnerabilities associated with global dependence on a sole foreign MVA vaccine supplier. GEO-MVA is designed to expand supply, diversify sources, and strengthen biodefense infrastructure.

Volato Group, Inc. (NYSE American: SOAR, $1.10, +1.85%) and M2i Global, Inc. (MTWO, $.0795), a company specializing in the development and execution of a complete global value supply chain for critical minerals, today announced key developments in its pending all-stock merger with M2i Global, Inc.. Volato has filed the Registration Statement on Form S-4 with the U.S. Securities and Exchange Commission (the “SEC”), following the SEC’s completion of its review of the initial confidential submission. With the reopening of federal agencies following the recent government shutdown, both companies now anticipate closing the merger in the first quarter of 2026, pending completion of SEC review and shareholder approval.

On Dec, 18 Volato Group, Inc. and M2i Global, Inc. announced that they applaud the recent December 11, 2025 announcement from the U.S. Department of State whereby Pax Silica, a U.S.-led strategic initiative to build a secure, prosperous, and innovation driven silicon supply chain—from critical minerals and energy inputs to advanced manufacturing, semiconductors, AI infrastructure, and logistics, was formed.

Volato Group, Inc. (NYSE American: SOAR) announced today that it has set a preliminary date of February 26, 2026 and preliminary record date of January 17, 2026 for a special meeting of shareholders to vote on the proposed merger with M2i Global, Inc. (MTWO) and related matters. The preliminary meeting date and record date remain subject to applicable regulatory and exchange requirements, including the effectiveness of Volato’s Registration Statement on Form S-4 (File No. 333-292132) (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission (“SEC”) and the mailing of definitive proxy materials to shareholders. The proposed merger creates a combined company built for scale. M2i Global brings a platform focused on critical minerals and national supply chain resilience, while Volato contributes proven aviation technology, software capability, and an established track record of operational execution. Together, the companies aim to participate in a U.S. critical minerals market estimated at more than $320 billion annually.

Volato Group, Inc. (NYSE American: SOAR) with M2i Global, Inc. (MTWO) announced on Nov. 19 that Nimy Resources (“Nimy”) and M2i will collaborate with the aim of forming commercially binding contract terms for the respective sale and purchase of gallium production. They also announced (Oct. 16) the next phase of development of the digital and commercial infrastructure underpinning the U.S. Strategic Mineral Reserve (SMR). M2i initiated the SMR framework and technical specifications earlier this year. Volato is now applying its proven enterprise-software expertise to build and operationalize the secure technology backbone that will support critical mineral traceability, contracting, and compliance across the United States and allied nations. This infrastructure is being developed to serve as the market-facing layer of the U.S. Strategic Mineral Reserve initiative, providing miners, refiners, recyclers, manufacturers, and government entities with a trusted environment for physical critical mineral transactions—with verified provenance, end-to-end custody visibility, and regulatory compliance at its core.

Serina Therapeutics (NYSE American: SER, $2.6499), Alabama-based biotech is betting its proprietary POZ platform and reimagined approach to apomorphine delivery may redefine the treatment paradigm for patients who have exhausted standard oral therapies. On Dec. 11, Serina announced the appointment of Joshua Thomas, Ph.D., as Vice President and Head of Chemistry. He will oversee internal and external chemistry efforts to optimize POZ-based candidates, supporting efficient translation from discovery through development.

On Dec. 10,Serina announced that it has submitted a complete response to the U.S. Food and Drug Administration’s (“FDA”) clinical hold letter for SER-252, the Company’s lead program for advanced Parkinson’s disease. As previously disclosed, the FDA placed the Company’s Investigational New Drug (“IND”) application for SER-252 on clinical hold pending additional information related to a commonly used formulation excipient. On November 25, 2025, the FDA issued a formal full clinical hold letter specifying the information required to permit initiation of the planned Phase 1b registrational study, SER-252-1b. The issues identified by the FDA do not relate to the apomorphine active drug substance, its mechanism of action, the use of the enFuse device (Enable Injections) or the broader 505(b)(2) NDA development pathway previously discussed with the Agency.

The InterGroup Corporation (NASDAQ: INTG, $25.10) reported (Nov. 17) results for the three months ended September 30, 2025. John V. Winfield, Chairman and Chief Executive Officer, said: “We continue to observe signs of stabilization and recovery across the San Francisco hospitality market, including improving convention calendars, tourism indicators, and business travel activity. On the investment side, our marketable securities activity remained modest with a small net gain, consistent with our emphasis on liquidity and risk discipline.”

DoubleVerify Holdings Inc. (DV) closed at $11.28, +0.0%. DoubleVerify, which built its franchise on media verification and ad performance analytics, is now the first badged TikTok Marketing Partner focused specifically on attention measurement, tapping impression-level signals from the platform. Brands gain a granular view of how exposure and user interaction come together across TikTok formats, ad sets, creatives, and objectives, effectively treating every swipe as a tiny A/B test.

Rocket Lab Corporation (Nasdaq: RKLB, $77,55, +9.97%), a global leader in launch services and space systems, today successfully launched the STP-S30 mission for the U.S. Space Force’s (USSF) Space Systems Command (SSC) – completing the launch five months ahead of schedule and playing a critical role in advancing technologies that ensure U.S. superiority in space.

Sources

​

1. https://finance.yahoo.com/news/live/stock-market-today-nasdaq-sp-500-dow-rise-as-tech-fuels-holiday-spirits-gold-climbs-to-record-high-143158507.html
2. https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-12-22-2025
3. https://lasvegassun.com/news/2025/dec/22/how-major-us-stock-indexes-fared-monday-12222025/
4. https://www.spglobal.com/marketintelligence/en/mi/research-analysis/week-ahead-economic-preview-week-of-22-december-2025.html
5. https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p-500-and-nasdaq-set-to-gain-as-year-end-push-continues-gold-tops-4-400/card/small-caps-take-the-lead-in-early-trading-as-performance-gap-with-s-p-500-narrows-L7vdcVsP7lLE0px6fhuR
6. https://www.sharewise.com/us/news_articles/Stock_Market_News_for_Dec_22_2025_Zacks_20251222_0836/amp
7. https://www.investing.com/news/stock-market-news/dow-jones-nasdaq-sp-500-weekly-preview-choppiness-to-test-usual-yearend-rally-4419106
8. https://www.cnn.com/markets
9. https://www.comerica.com/insights/economic-insights/monthly-outlook/december-2025-us-economic-outlook.html
10. https://www.hancockwhitney.com/insights/markets-and-economic-updates-for-december-2025-shutdowns-fed-moves-and-market-resilience
11. https://www.reuters.com/markets/deals/tariff-turmoil-puts-freeze-global-ma-dealmaking-2025-04-04/
12. https://www.investing.com/news/stock-market-news/europeaninvestment-banks-fail-to-capitalise-on-trump-tariff-turmoil-4419416
13. https://finance.yahoo.com
14. https://www.coindesk.com/coindesk-indices/2025/05/07/the-market-reaction-to-trump-s-tariffs-signals-a-broader-acceptance-of-bitcoin-s-digital-gold-narrative
15. https://www.investors.com/market-trend/stock-market-today/dow-jones-sp500-nasdaq-nvidia-nvda-applovin-palantir-tesla-stock-tsla/
16. https://finance.yahoo.com/quote/LLY/history/
17. https://finance.yahoo.com/quote/LLY/
18. https://finance.yahoo.com/quotes/NVDA,AAPL,MSFT,AVGO,META,CDNS,AMZN,TSLA,ORCL,TSM
19. https://www.marketbeat.com/instant-alerts/technology-stocks-to-keep-an-eye-on-december-17th-2025-12-17/
20. https://www.cnbc.com/2025/12/22/monday-stocks-covered-in-analyst-calls-include-nvidia-oracle-amazon-.html
21. https://finance.yahoo.com/quotes/NVDA,MSFT,AAPL,AMZN,META,GOOGL,GOOG,LLY,TSLA,AVGO
22. https://www.nasdaq.com/articles/pre-market-most-active-dec-4-2025-tsll-nvo-irbt-nvda-tsla-mstx-nio-tqqq-wmt-nem-aph-path
23. https://tradingeconomics.com/united-states/calendar
24. https://www.barrons.com/livecoverage/stock-market-news-today-122225
25. https://www.eoption.com/morning-preview-december-22-2025/
26. https://www.youtube.com/watch?v=QOjOHKHUZCQ
27. https://finviz.com/news/259568/stock-market-news-for-dec-22-2025
28. https://fintel.io/sofStockLeaderboard
29. https://iextrading.com/trading/eligible-symbols/
30. https://uk.news.yahoo.com/major-us-stock-indexes-fared-212653511.html
31. https://finance.yahoo.com/quote/LLY.F/history/
32. https://finance.yahoo.com/quote/LLY.NE/history/
33. https://finance.yahoo.com/quote/LLY251226P00610000/
34. https://ca.finance.yahoo.com/quote/LLY251226C01140000/
35. https://finance.yahoo.com/quote/LLY251219C00820000/history/
36. https://finance.yahoo.com/quote/LLY251226C00530000/
37. https://sg.finance.yahoo.com/quote/LLY251205C00755000/history/
38. https://yelza.com/research/economic-calendar-december-22-december-26-2025
39. https://uk.finance.yahoo.com/quote/LLY251219C00890000/history/

Wall Street investors wrapped the week ending Friday, December 19, 2025 with dreams of sugarplums and a Santa Rally in their holiday minded heads & looking like it had just survived a very expensive group therapy session: growth darlings, rate‑sensitive cyclicals, and hard‑asset fans all got something to cheer, even if no one left entirely convinced that 2026 will be as painless as the price action currently implies.

Indexes and Macro Cross‑Currents

U.S. equities delivered a choppy but ultimately constructive week, with the Dow and Russell 2000 grinding higher while the S&P 500 and Nasdaq lagged modestly as investors rotated away from the most crowded AI trades. That pattern fit a broader macro script in which cooling—but still elevated—inflation, a cautious Federal Reserve and still‑sticky tariffs left investors toggling between “soft landing” optimism and “late‑cycle” nerves, sometimes in the same trading session.

On the macro front, shutdown‑delayed November inflation data showed headline prices rising about 2.7% year‑over‑year, with core inflation near 2.6%, reassuring doves that the disinflation trend remains largely intact even as the labor market cools. The Fed’s recent rate‑cutting path remained a live debate, with officials signaling patience after a string of quarter‑point cuts while futures markets quietly pulled forward expectations for the next move into the spring, leaving the yield curve slightly less inverted but still firmly in “not normal” territory.

Fed, Tariffs and the Shutdown

Fed officials spent the week reminding markets that while the central bank is no longer the villain in this year’s drama, it is also not ready to audition for the role of fairy godmother. Policymakers highlighted that tariffs have added roughly half a percentage point to inflation and stalled progress toward the 2% goal, reinforcing expectations that the next FOMC decision—and its dot plot—will stay data‑dependent, with investors broadly eyeing the April 2026 meeting for the next likely cut rather than demanding fireworks in January.

The government shutdown’s data distortions lingered in the background, with officials openly cautioning that some recent inflation and labor readings should be handled with the same skepticism usually reserved for IPO roadshow slides. Corporate finance chiefs, meanwhile, continued to cite tariffs as a top risk for 2026 margins and pricing, even as equity markets mostly treated the ongoing trade skirmishes as background noise rather than a new plot twist.

Rates, Curve and Cross‑Asset Moves

Treasury yields drifted lower early in the week before stabilizing as traders digested the inflation print and recalibrated odds of the next Fed move, nudging the curve toward a slightly flatter, still‑inverted configuration that says “late cycle” more than “impending recession.” Financials actually welcomed the more measured rate‑path rhetoric, with some commentary suggesting that a less aggressively inverted curve is enough to keep net interest margins from eroding further, even if the golden era of fat spreads remains a fond memory. The 2-yr yield ended at 3.49% and the 10-yr yield ended at 4.14%.

In commodities, gold climbed toward fresh all‑time highs, trading to a close of $3,368.70 per ounce after starting the prior week near $4,215, as investors sought a hedge against both tariff‑stoked inflation and the slow drip of global rate cuts. Silver extended its own remarkable run coming at $67.395/oz. Bitcoin (currently in the $88k range) continued its role as “levered macro sentiment,” bouncing higher alongside lower yields and renewed risk appetite, even as traditional safe havens like bullion reminded investors that the old hedges are not ready to cede the stage to the new.

AI Bellwethers, Chips and Big Tech

It was another week in which the AI complex behaved less like a secular mega‑theme and more like an over‑caffeinated momentum factor, with NVIDIA (NVDA, $180.99, up 3.41% over the last 5-days), Broadcom (AVGO, $340.36, down 5.44% over the last 5-days)  TSMC, Micron, and Palantir all featuring prominently on traders’ screens. Research chatter stayed upbeat on the group—highlighting AI infrastructure, cloud demand and data‑center silicon—yet price action turned two‑sided as investors weighed lofty expectations against a less aggressive Fed and a modest back‑up in yields, leaving the cohort trading more like a high‑beta vehicle than a serene long‑duration growth story. Micron Technology (MU, $265.92, +10.28% over the last 5-days) did not just clear Wall Street’s bar this quarter; it politely relocated it to a much higher floor and sent analysts a change-of-address card. Micron’s latest forecast calls for revenue of about $18.7 billion dollars next quarter, almost one-third higher than what analysts had penciled in and nearly double consensus profit expectations on an adjusted per-share basis. The company’s first-quarter results already beat estimates, with sales of roughly $13.6 billion dollars and adjusted earnings topping forecasts, setting the stage for what looks less like a recovery and more like a regime change in the memory business.

Apple and Meta (META, $658.77, +2.26% over the last 5-day) navigated the week as barometers of mega‑cap risk appetite, with flows oscillating between “safe big tech compounder” and “source of funds” depending on the day’s macro narrative.  Taiwan Semiconductor and other foundry‑linked names reflected the market’s ongoing willingness to underwrite a multi‑year AI hardware build‑out—even as the short‑term tape admitted that perfection has already been generously priced into several of the usual suspects.

Individual Names: From Lilly to Tesla

In healthcare, Eli Lilly (LLY, $1,074.44, +4.28%) remained a market darling in the obesity‑and‑Alzheimer’s trade, buoyed by expectations of durable growth even as investors debated how much of that good news is already embedded in the valuation. The stock traded like a high‑quality, high‑duration asset: sensitive to every twitch in yields and Fed rhetoric but still broadly underpinned by a pipeline that investors increasingly treat as a quasi‑consumer‑staples franchise in disguise.

Among the broader tech and growth cohort, Oracle & Intel aappeared on “high‑dollar‑volume to watch” screens as traders leaned into idiosyncratic catalysts ranging from cloud adoption to AI‑driven analytics demand.  Tesla (TSLA, $481.20,+1.24% over the last 5-days) spent the week repricing yet again around its latest autonomy and robo‑taxi narratives, a reminder that the line between car company and tech story remains delightfully blurry whenever the macro backdrop calms down enough for speculative imagination to reassert itself.

Old Economy: McDonald’s, Rio Tinto, Nokia and Oklo

Defensive and cyclical names shared a rare moment of joint relevance, with McDonald’s (MCD, $315.84) benefiting from its usual role as a cash‑flow machine for nervous investors while Rio Tinto (RIO, $78.32, +3.52% over the last 5-days) traded as a liquid proxy on global growth expectations and the industrial‑metals angle of the green‑energy build‑out.  Nokia (NOK, $6.50, +3.67%) continued to operate on the periphery of the AI narrative as a beneficiary of network and 5G infrastructure demand, even if its share price still moves at a much more pedestrian pace than its flashier Silicon Valley cousins

In the energy and nuclear‑innovation niche, Oklo (OKLO, $83.33) kept the market’s attention as a speculative play on advanced reactors and data‑center power demand, a theme that conveniently straddles both ESG skepticism and AI euphoria.  Opendoor (OPEN, $6.36) remained tethered to the housing‑cycle and rate story, with investors debating whether a gentler Fed and plateauing mortgage costs can meaningfully revive i‑buyer economics or simply slow the bleeding.

Deal Flow, IPOs and Corporate Maneuvers

Dealmakers finally emerged from their rate‑shock bunkers, with BioMarin (BMRN, $61.15, +14.71% over the last 5-days) grabbing headlines by agreeing to acquire Amicus Therapeutics (FOLD, $14.18, +30.33% over the last 5-days) in a roughly $4.8 billion all‑cash transaction at $14.50 per share, a classic rare‑disease bolt‑on that adds scale and pipeline heft ahead of an expected 2026 close. The agreement, unanimously approved by both boards, signals that large‑cap biopharma is once again willing to pay up for late‑stage assets in pursuit of post‑patent growth, a trend that could extend into 2026 if financing conditions stay benign.

On the IPO front, the calendar remained open if not exuberant, with smaller international and specialty listings carrying the torch while the mega‑unicorns continue to monitor valuations from the sidelines. NYSE and Nasdaq pipelines showed a steady stream of modest‑sized deals and filings—more a sign of a normally functioning capital market than a full‑blown reopening of the speculative window—but enough to keep bankers optimistic that 2026’s first half could look busier than 2025’s first.

Vista Partners Watchlist Updates

Modular Medical, Inc. (Nasdaq: MODD., $.3410), a leader in innovative insulin delivery technology targeting the $3 billion adult “almost-pumpers” diabetes market with user-friendly, affordable patch pumps, announced (Dec. 10) that it had priced an underwritten public offering (the “offering”) of 12,173,000 shares of its common stock and accompanying warrants to purchase 6,086,500 shares of its common stock. Each two shares of common stock are being offered and sold together with one accompanying warrant at a combined offering at a price of $0.77, yielding an effective price of $0.38 per share and $0.01 per warrant. The warrants will have an exercise price of $0.45 per share, are exercisable immediately upon issuance and will expire five years following the date of issuance. In connection with the offering, Modular Medical has granted the underwriter a 30-day option to purchase up to an additional 15% of common shares and/or warrants at the public offering price, less underwriting discounts and commissions. The over-allotment option may be elected with respect to, at the underwriter’s sole discretion, shares and warrants together, solely shares, solely warrants, or any combination thereof. Newbridge Securities Corporation is acting as the sole bookrunner for the offering. Assuming no exercise of the over-allotment option, the gross proceeds to the Company from the offering are expected to be approximately $4.68 million, before deducting underwriting discounts, commissions, and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering to fund operations and for working capital and general corporate purposes, including capital expenditures.

On Nov. 17, Modular announced Institutional Review Board (“IRB”) approval to conduct an in-house study of its next-generation Pivot™ insulin delivery system using insulin on people with diabetes (the “Study”). Pursuant to U.S. Food and Drug Administration (“FDA”) regulations, an IRB is a group that has been formally designated to review and monitor biomedical research involving human subjects. The Study will simulate real-world conditions by delivering insulin to adult participants to gather critical data on device function and usability and obtain user feedback. Modular Medical’s Pivot tubeless patch pump aims to enhance accessibility for underserved patients with diabetes and drive market penetration and expansion.

On Nov. 14, Modular Medical announced the 510(k) premarket submission of its next generation Pivot™ tubeless patch pump to the U.S. Food and Drug Administration (the “FDA”). The Company expects to commence the commercial launch of its Pivot pump in Q1 2026. On Nov. 3, Modular Medical the successful validation of its Pivot controller line, a critical milestone in preparing for the commercial launch of its Pivot patch pump targeted for Q1 2026. The Pivot controller line validation further demonstrates manufacturing readiness for high-volume production, positioning Modular Medical to meet the growing demand in the diabetes treatment market for advanced technology.

Eupraxia Pharmaceuticals Inc. (NASDAQ: EPRX, $6.56, +4.96% over the last 5-days), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology to optimize local, controlled drug delivery for diseases with significant unmet need, announced (Nov. 13) the second set of 52-week follow up data from its ongoing Phase 1b/2a RESOLVE trial evaluating a single administration EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). James A. Helliwell, Chief Executive Officer of Eupraxia stated,“These data further highlight the strong durability and tolerability profile of EP-104GI, reinforcing its potential to become a convenient, once-a-year treatment that fits seamlessly into routine disease management by aligning with annual patient endoscopies. The Cohorts 5 & 6 patients – the only groups to have reached 52 weeks in the trial – are demonstrating levels of symptom relief that is durable and clinically meaningful – we are very encouraged by this outcome. We’re also pleased that our previously announced 52-week data were presented as a late-breaking presentation at the American College of Gastroenterology Annual Scientific Meeting (ACG). These new results build on that momentum. Given that current EoE therapies often struggle with long-term adherence, we believe a durable, once-yearly treatment could meaningfully improve patient outcomes and establish EP-104GI as a preferred option for both physicians and their patients.”

GeoVax Labs, Inc. (Nasdaq: GOVX, $.1592), a clinical-stage biotechnology company developing multi-antigen vaccines and immunotherapies for infectious diseases and cancer, announced (Dec. 19) that it has entered into definitive securities purchase agreements with several institutional and individual investors for the purchase and sale of approximately 13.2 million units, each comprised of one share of the Company’s common stock and warrants, as described below, to purchase shares of the Company’s common stock, at a price of $0.245 per unit in a public offering. The Company will issue warrants to purchase up to approximately 26.5 million shares of common stock. The warrants will have an exercise price of $0.245 per share, will be exercisable immediately following the date of issuance and will have a term of five years following the date of issuance. Roth Capital Partners is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from this offering are expected to be approximately $3.2 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The closing of the offering is expected to occur on or about December 22, 2025, subject to the satisfaction of customary closing conditions.

GeoVax announced (Dec. 18) the publication of a peer-reviewed article in Frontiers in Immunology titled: “Multi-antigen MVA-vectored SARS-CoV-2 vaccine, GEO-CM04S1, induces cross-protective immune responses to ancestral and Omicron variants.” The study provides definitive preclinical evidence that GeoVax’s multi-antigen COVID-19 vaccine candidate, GEO-CM04S1, delivers full cross-variant protection, driven predominantly by robust T-cell responses, even in the absence of neutralizing antibodies. The findings reinforce the design philosophy behind GeoVax’s MVA-based, multi-antigen platform and provide mechanistic insight that is increasingly relevant for immunocompromised individuals, who often fail to respond optimally to the first-generation COVID-19 vaccines.

GeoVax announced (Dec. 17) the successful completion of fill-finish for the initial clinical batch of GEO-MVA, its next-generation Mpox/smallpox vaccine. The product has now entered final release evaluation, the concluding quality-control and compliance process required before shipment for clinical use, positioning the Company for Phase 3 immunobridging trial start-up activities in Q1 2026. Fill-finish – the sterile, cGMP-regulated process of filling, sealing, and packaging vaccine vials – marks the last manufacturing step before a vaccine may enter clinical study supply channels. With fill-finish complete and GEO-MVA now undergoing final release evaluation, GeoVax has moved into the final pre-clinical-deployment phase of its EMA-aligned clinical program. In June 2025, the European Medicines Agency (EMA) Scientific Advice confirmed that a single Phase 3 immunobridging study demonstrating immune comparability to the approved MVA vaccine, Imvanex(R), would be sufficient to evaluate GEO-MVA’s efficacy. This provides a clear, accelerated regulatory path to licensure. This milestone coincides with increasing Mpox activity globally – including expanding Clade I outbreaks in Africa and emerging cases in the United States – exposing vulnerabilities associated with global dependence on a sole foreign MVA vaccine supplier. GEO-MVA is designed to expand supply, diversify sources, and strengthen biodefense infrastructure.

Volato Group, Inc. (NYSE American: SOAR, $1.08) and M2i Global, Inc. (MTWO, $.0795), a company specializing in the development and execution of a complete global value supply chain for critical minerals, today announced key developments in its pending all-stock merger with M2i Global, Inc.. Volato has filed the Registration Statement on Form S-4 with the U.S. Securities and Exchange Commission (the “SEC”), following the SEC’s completion of its review of the initial confidential submission. With the reopening of federal agencies following the recent government shutdown, both companies now anticipate closing the merger in the first quarter of 2026, pending completion of SEC review and shareholder approval.

On Dec, 18 Volato Group, Inc. and M2i Global, Inc. announced that they applaud the recent December 11, 2025 announcement from the U.S. Department of State whereby Pax Silica, a U.S.-led strategic initiative to build a secure, prosperous, and innovation driven silicon supply chain—from critical minerals and energy inputs to advanced manufacturing, semiconductors, AI infrastructure, and logistics, was formed.

Volato Group, Inc. (NYSE American: SOAR) announced today that it has set a preliminary date of February 26, 2026 and preliminary record date of January 17, 2026 for a special meeting of shareholders to vote on the proposed merger with M2i Global, Inc. (MTWO) and related matters. The preliminary meeting date and record date remain subject to applicable regulatory and exchange requirements, including the effectiveness of Volato’s Registration Statement on Form S-4 (File No. 333-292132) (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission (“SEC”) and the mailing of definitive proxy materials to shareholders. The proposed merger creates a combined company built for scale. M2i Global brings a platform focused on critical minerals and national supply chain resilience, while Volato contributes proven aviation technology, software capability, and an established track record of operational execution. Together, the companies aim to participate in a U.S. critical minerals market estimated at more than $320 billion annually.

Volato Group, Inc. (NYSE American: SOAR) with M2i Global, Inc. (MTWO) announced on Nov. 19 that Nimy Resources (“Nimy”) and M2i will collaborate with the aim of forming commercially binding contract terms for the respective sale and purchase of gallium production. They also announced (Oct. 16) the next phase of development of the digital and commercial infrastructure underpinning the U.S. Strategic Mineral Reserve (SMR). M2i initiated the SMR framework and technical specifications earlier this year. Volato is now applying its proven enterprise-software expertise to build and operationalize the secure technology backbone that will support critical mineral traceability, contracting, and compliance across the United States and allied nations. This infrastructure is being developed to serve as the market-facing layer of the U.S. Strategic Mineral Reserve initiative, providing miners, refiners, recyclers, manufacturers, and government entities with a trusted environment for physical critical mineral transactions—with verified provenance, end-to-end custody visibility, and regulatory compliance at its core.

Serina Therapeutics (NYSE American: SER, $2.75), Alabama-based biotech is betting its proprietary POZ platform and reimagined approach to apomorphine delivery may redefine the treatment paradigm for patients who have exhausted standard oral therapies. On Dec. 11, Serina announced the appointment of Joshua Thomas, Ph.D., as Vice President and Head of Chemistry. He will oversee internal and external chemistry efforts to optimize POZ-based candidates, supporting efficient translation from discovery through development.

On Dec. 10,Serina announced that it has submitted a complete response to the U.S. Food and Drug Administration’s (“FDA”) clinical hold letter for SER-252, the Company’s lead program for advanced Parkinson’s disease. As previously disclosed, the FDA placed the Company’s Investigational New Drug (“IND”) application for SER-252 on clinical hold pending additional information related to a commonly used formulation excipient. On November 25, 2025, the FDA issued a formal full clinical hold letter specifying the information required to permit initiation of the planned Phase 1b registrational study, SER-252-1b. The issues identified by the FDA do not relate to the apomorphine active drug substance, its mechanism of action, the use of the enFuse device (Enable Injections) or the broader 505(b)(2) NDA development pathway previously discussed with the Agency.

The InterGroup Corporation (NASDAQ: INTG, $27.40) reported (Nov. 17) results for the three months ended September 30, 2025. John V. Winfield, Chairman and Chief Executive Officer, said: “We continue to observe signs of stabilization and recovery across the San Francisco hospitality market, including improving convention calendars, tourism indicators, and business travel activity. On the investment side, our marketable securities activity remained modest with a small net gain, consistent with our emphasis on liquidity and risk discipline.”

DoubleVerify Holdings Inc. (DV) closed at $11.28, +3.11% over the last 5-days. DoubleVerify, which built its franchise on media verification and ad performance analytics, is now the first badged TikTok Marketing Partner focused specifically on attention measurement, tapping impression-level signals from the platform. Brands gain a granular view of how exposure and user interaction come together across TikTok formats, ad sets, creatives, and objectives, effectively treating every swipe as a tiny A/B test.

Rocket Lab Corporation (Nasdaq: RKLB, $59.92, +11.05%), a global leader in launch services and space systems, today successfully launched the STP-S30 mission for the U.S. Space Force’s (USSF) Space Systems Command (SSC) – completing the launch five months ahead of schedule and playing a critical role in advancing technologies that ensure U.S. superiority in space.

Sources

1. https://www.stl.news/wall-street-ends-the-week-rally-mode-dec-19-2025/
2. https://www.indmoney.com/blog/us-stocks/us-market-what-to-expect-this-week-from-dow-nasdaq-sp500
3. https://in.investing.com/analysis/top-5-economic-events-shaping-global-markets-december-1519-2025-insights-200633252
4. https://www.linkedin.com/pulse/stock-market-outlook-strategy-december-15-19-2025-iryna-kyulf
5. https://cbs12.com/news/nation-world/inflation-fell-more-than-expected-in-report-delayed-by-the-government-shutdown-prices-economy-tariffs-energy-shelter-services-bls
6. https://www.newyorkfed.org/newsevents/speeches/2025/wil251215
7. https://komonews.com/news/nation-world/inflation-fell-more-than-expected-in-report-delayed-by-the-government-shutdown-prices-economy-tariffs-energy-shelter-services-bls
8. https://www.moneycorp.com/en-us/news-hub/economic-update-15-december-2025/
9. https://www.reuters.com/business/finance-chiefs-see-us-prices-rising-next-year-tariffs-still-top-concern-2025-12-17/
10. https://www.tmtbreakout.com/p/tmtb-amd-cuts-amzn-ms-bulls-nvdamuarm
11. https://www.marketbeat.com/instant-alerts/technology-stocks-to-keep-an-eye-on-december-17th-2025-12-17/
12. https://www.investing.com/news/stock-market-news/avago-and-oracle-among-market-cap-stock-movers-on-wednesday-93CH-4413497
13. https://www.biomarin.com/news/press-releases/biomarin-to-acquire-amicus-therapeutics-for-4-8-billion-expanding-position-as-a-leader-in-rare-diseases-accelerating-revenue-growth-and-strengthening-financial-outlook/
14. https://www.prnewswire.com/news-releases/biomarin-reports-third-quarter-2025-results-and-provides-corporate-update-302595620.html
15. https://www.iposcoop.com/ipo-calendar/
16. https://stockanalysis.com/ipos/2025/
17. https://www.nyse.com/ipo-center/filings
18. https://www.nyse.com/ipo-center/recent-ipo
19. https://www.cmegroup.com/videos/2025/12/15/s-p-500-futures-drifted-lower-to-start-the-week-12-15-25.html
20. https://www.mintstategold.com/investor-education/cat/markets/post/gold-crossing-4300-while-silver-moves-above-64-oz-december-15th-2025-weekly-precious-metal-rare-coin-market-report/
21. https://www.youtube.com/watch?v=CZ1M1gipdoE
22. https://www.youtube.com/watch?v=WNQnn1o0Ga4
23. https://bullionexchanges.com/blog/market-report-by-bullion-exchanges-dec-15-2025
24. https://finance.yahoo.com/quote/%5EGSPC/history/
25. https://www.jhinvestments.com/weekly-market-recap
26. https://www.schwab.com/learn/story/weekly-traders-outlook
27. https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p-500-and-nasdaq-point-to-gains-as-data-heavy-week-looms
28. https://akarninsights.com/news/stock/bkyi/tech-stocks-surge-amid-mixed-corporate-news
29. https://markets.financialcontent.com/stocks/article/marketminute-2025-12-15-us-stocks-edge-higher-cautious-optimism-ahead-of-pivotal-economic-data-week
30. https://www.troweprice.com/personal-investing/resources/insights/global-markets-weekly-update.html
31. https://www.tipranks.com/news/the-fly/notable-open-interest-changes-for-december-15th-thefly
32. https://investors.biomarin.com/news/news-details/2025/BioMarin-Announces-Completion-of-Acquisition-of-Inozyme/default.aspx
33. https://www.prnewswire.com/news-releases/biomarin-announces-completion-of-acquisition-of-inozyme-302495683.html
34. https://finance.yahoo.com/news/biomarin-pharmaceutical-bmrn-finalizes-acquisition-120820338.html
35. https://www.investing.com/news/company-news/biomarin-completes-270-million-acquisition-of-inozyme-pharma-93CH-4119404
36. https://www.stocktitan.net/news/BMRN/bio-marin-announces-completion-of-acquisition-of-1is790sxsijh.html
37. https://www.iposcoop.com/current-year-pricings/
38. https://www.pharmexec.com/view/biomarin-strengthens-rare-disease-pipeline-270-million-inozyme-acquisition
39. https://www.goodwinlaw.com/en/news-and-events/news/2025/05/announcements-lifesciences-ma-goodwin-represents-inozyme-pharma
40. https://www.investing.com/news/sec-filings/biomarin-projects-221-million-iprd-charge-from-inozyme-acquisition-93CH-4275987

U.S. stocks advanced Thursday as investors toasted cooler inflation, lower yields and yet another tech-led melt-up, suggesting Santa is at least circling the mall parking lot even if he has not walked in yet. Risk assets climbed despite softer precious metals and oil, while bitcoin and AI bellwethers resumed their recurring role as the market’s speculative Greek chorus.

Indexes: Tech Reclaims the Spotlight

The S&P 500 added about 0.8%, with megacap tech and semiconductor shares doing most of the heavy lifting as investors rotated back into growth after a benign inflation print. The Nasdaq Composite outpaced its peers with a roughly 1.4% gain, powered by AI-related names and a strong showing from chipmakers, while the small‑cap Russell 2000 climbed about 0.6%, finally managing to keep pace instead of serving as the market’s designated caboose.

The Dow Jones Industrial Average rose more modestly as its old‑economy tilt and lighter weight in AI and chips left it trailing the day’s more speculative enthusiasm. All four major benchmarks remain comfortably higher for the year, with the Nasdaq still the standout thanks to its concentrated exposure to the market’s AI fixation.

Macro, Fed, Yields and Shutdown

A cooler‑than‑feared CPI backdrop kept the “soft landing” story intact, with markets reading recent data as a green light for modest Fed easing in 2025 rather than an emergency‑style pivot. Treasury yields eased along the curve, with the 10‑year near the low‑4% area and the 20‑year around 4.78%, easing financial conditions just enough to cheer equity traders without unnerving bond vigilantes. The 30‑year yield hovered near 4.8%, leaving the curve still kinked but less ominously inverted compared with earlier in the year. The 2-yr gifted lower to 3.473%.

The FOMC’s December policy meeting and press conference remain the focal point for rate expectations, with investors watching the Fed’s updated projections and language for clues on the timing and pace of cuts next year. In Washington, the year’s record‑long federal government shutdown remains in the rear‑view mirror after Congress and President Donald Trump agreed in November to reopen agencies, though fiscal brinkmanship is now treated by markets as a recurring feature rather than a one‑off bug. Tariff risk continues to simmer in the background, especially around China and critical materials, but investors largely treated trade as a 2026 problem and an options‑desk talking point rather than a near‑term trading catalyst today.

Commodities, Crypto and Currencies

Gold slipped modestly, with spot prices around 4,363.90 dollars an ounce, as the appetite for safety faded in favor of growth stocks and crypto speculation. Silver followed suit, giving back 2.17% of its gains to close at $65.45/oz. as volatility hedges fell out of favor and investors leaned back into cyclical and tech exposures.

Oil prices closed at $55.90, +.16%, echoing forecasts that crude could drift lower into 2026 absent a new supply shock or fresh OPEC discipline, leaving energy equities as reluctant wallflowers at an otherwise lively risk‑asset party. Bitcoin (BTC) closed at $85,337.58, -.95%.

Corporate News: Pharma, Chips, AI and More

Eli Lilly (LLY) climbed 1.45% to $1,056.88 and +4.71% over the last 50days after new data and commentary on its obesity pill underlined the company’s grip on the weight‑loss market, extending one of the most profitable therapeutic trends in modern pharma. Analysts highlighted strong earnings momentum, fast‑rising revenue and continued enthusiasm around its GLP‑1 franchise, reinforcing the view that Lilly remains the street’s preferred long‑duration growth story in healthcare.​

In semiconductors, Micron (MU, $248.55, +10.12%) rode a wave of optimism around AI‑driven memory demand and announcing its blowout earnings and forecast and “cool” inflation, helping lift the broader chip complex and feeding into the Nasdaq’s outperformance. NVIDIA (NVDA, $174.14, +1.87%), Taiwan Semiconductor Manufacturing (TSM, $284.68, +2.79%) and Intel (INTC, $36.28, +.64%) traded as the de facto barometers of AI capital expenditure; enthusiasm for data‑center build‑outs remained high even as periodic profit‑taking kept a lid on the most extreme gains.

Apple (AAPL, $272.19, +.13%), Broadcom (AVGO, $329.88, +1.18%) and Tesla (TSLA, $483.37, +3.45%) joined the session’s tech rebound, as all three featured prominently on high‑volume watch lists and options flow screens, indicating that institutional traders still treat them as core expressions of the growth and AI themes. Palantir Technologies (PLTR, $185.69, +4.74%) also sat near the top of liquidity leaderboards, reflecting ongoing interest in its defense‑and‑data AI narrative, while Meta Platforms (META) continued to benefit from expectations of resilient digital‑ad demand into 2026.​

Oracle (ORCL, $180.03, +.88%) and other legacy enterprise names saw more mixed trading as investors weighed robust AI‑infrastructure revenue growth against heavier‑than‑expected capital spending and pressure on free cash flow, a reminder that not every AI story mints effortless margins. Nokia (NOK, $6.38, +2.57%) and Rio Tinto Group (RIO, $77.63, +.57%) remained more tethered to the slow‑burn realities of telecoms and global commodities, respectively, with their shares reflecting the tug‑of‑war between tariff uncertainties, infrastructure demand and China‑linked growth concerns.

McDonald’s (MCD, $319.65, +.30%) continued to trade as a defensive consumer stalwart, with investors still willing to pay for predictable cash flows and pricing power even as rate‑cut talk nudges growth names back into favor. Opendoor Technologies (OPEN, $6.28, +2.61%) remained a speculative housing‑cycle proxy, showing up in options flow but still hostage to the path of mortgage rates and the willingness of consumers to trade homes more often than stocks. Nuclear‑power startup Oklo (OKLO, $77.72, +2.34%) and other advanced‑energy names stayed in the spotlight of policy‑watchers and thematic investors, given the intersection of energy security, decarbonization and tariffs on critical materials.

Deals, IPOs and Primary Markets

The new‑issue market showed signs of life as a cluster of small and special‑purpose deals came to market, underscoring how rapidly bankers dust off term sheets whenever volatility ebbs. On the NYSE and Nasdaq, listings included American Drive Acquisition Company and other SPAC and niche offerings, with additional vehicles such as Vine Hill Capital Investment Corp. II and Libera Gaming Operations joining the week’s modest roster.

While 2025’s marquee IPOs remain concentrated in larger industrial, healthcare and consumer names that priced earlier in the week, today’s tape suggested that the window is at least partially open for opportunistic sponsors willing to accept more modest valuations. Merger and acquisition headlines were comparatively quieter, with no transformational megadeals capturing the tape, though the steady drumbeat of smaller strategic acquisitions—particularly in healthcare and technology—continued just below the threshold of market‑moving drama.

Vista Partners Watchlist Updates

Modular Medical, Inc. (Nasdaq: MODD., $.3550, +.42%), a leader in innovative insulin delivery technology targeting the $3 billion adult “almost-pumpers” diabetes market with user-friendly, affordable patch pumps, announced (Dec. 10) that it had priced an underwritten public offering (the “offering”) of 12,173,000 shares of its common stock and accompanying warrants to purchase 6,086,500 shares of its common stock. Each two shares of common stock are being offered and sold together with one accompanying warrant at a combined offering at a price of $0.77, yielding an effective price of $0.38 per share and $0.01 per warrant. The warrants will have an exercise price of $0.45 per share, are exercisable immediately upon issuance and will expire five years following the date of issuance. In connection with the offering, Modular Medical has granted the underwriter a 30-day option to purchase up to an additional 15% of common shares and/or warrants at the public offering price, less underwriting discounts and commissions. The over-allotment option may be elected with respect to, at the underwriter’s sole discretion, shares and warrants together, solely shares, solely warrants, or any combination thereof. Newbridge Securities Corporation is acting as the sole bookrunner for the offering. Assuming no exercise of the over-allotment option, the gross proceeds to the Company from the offering are expected to be approximately $4.68 million, before deducting underwriting discounts, commissions, and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering to fund operations and for working capital and general corporate purposes, including capital expenditures.

On Nov. 17, Modular announced Institutional Review Board (“IRB”) approval to conduct an in-house study of its next-generation Pivot™ insulin delivery system using insulin on people with diabetes (the “Study”). Pursuant to U.S. Food and Drug Administration (“FDA”) regulations, an IRB is a group that has been formally designated to review and monitor biomedical research involving human subjects. The Study will simulate real-world conditions by delivering insulin to adult participants to gather critical data on device function and usability and obtain user feedback. Modular Medical’s Pivot tubeless patch pump aims to enhance accessibility for underserved patients with diabetes and drive market penetration and expansion.

On Nov. 14, Modular Medical announced the 510(k) premarket submission of its next generation Pivot™ tubeless patch pump to the U.S. Food and Drug Administration (the “FDA”). The Company expects to commence the commercial launch of its Pivot pump in Q1 2026. On Nov. 3, Modular Medical the successful validation of its Pivot controller line, a critical milestone in preparing for the commercial launch of its Pivot patch pump targeted for Q1 2026. The Pivot controller line validation further demonstrates manufacturing readiness for high-volume production, positioning Modular Medical to meet the growing demand in the diabetes treatment market for advanced technology.

Eupraxia Pharmaceuticals Inc. (NASDAQ: EPRX, $6.25, -.64%), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology to optimize local, controlled drug delivery for diseases with significant unmet need, announced (Nov. 13) the second set of 52-week follow up data from its ongoing Phase 1b/2a RESOLVE trial evaluating a single administration EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). James A. Helliwell, Chief Executive Officer of Eupraxia stated,“These data further highlight the strong durability and tolerability profile of EP-104GI, reinforcing its potential to become a convenient, once-a-year treatment that fits seamlessly into routine disease management by aligning with annual patient endoscopies. The Cohorts 5 & 6 patients – the only groups to have reached 52 weeks in the trial – are demonstrating levels of symptom relief that is durable and clinically meaningful – we are very encouraged by this outcome. We’re also pleased that our previously announced 52-week data were presented as a late-breaking presentation at the American College of Gastroenterology Annual Scientific Meeting (ACG). These new results build on that momentum. Given that current EoE therapies often struggle with long-term adherence, we believe a durable, once-yearly treatment could meaningfully improve patient outcomes and establish EP-104GI as a preferred option for both physicians and their patients.”

GeoVax Labs, Inc. (Nasdaq: GOVX, $.2401), a clinical-stage biotechnology company developing multi-antigen vaccines and immunotherapies for infectious diseases and cancer, announced (Dec. 18) the publication of a peer-reviewed article in Frontiers in Immunology titled: “Multi-antigen MVA-vectored SARS-CoV-2 vaccine, GEO-CM04S1, induces cross-protective immune responses to ancestral and Omicron variants.” The study provides definitive preclinical evidence that GeoVax’s multi-antigen COVID-19 vaccine candidate, GEO-CM04S1, delivers full cross-variant protection, driven predominantly by robust T-cell responses, even in the absence of neutralizing antibodies. The findings reinforce the design philosophy behind GeoVax’s MVA-based, multi-antigen platform and provide mechanistic insight that is increasingly relevant for immunocompromised individuals, who often fail to respond optimally to the first-generation COVID-19 vaccines.

GeoVax announced (Dec. 17) the successful completion of fill-finish for the initial clinical batch of GEO-MVA, its next-generation Mpox/smallpox vaccine. The product has now entered final release evaluation, the concluding quality-control and compliance process required before shipment for clinical use, positioning the Company for Phase 3 immunobridging trial start-up activities in Q1 2026. Fill-finish – the sterile, cGMP-regulated process of filling, sealing, and packaging vaccine vials – marks the last manufacturing step before a vaccine may enter clinical study supply channels. With fill-finish complete and GEO-MVA now undergoing final release evaluation, GeoVax has moved into the final pre-clinical-deployment phase of its EMA-aligned clinical program. In June 2025, the European Medicines Agency (EMA) Scientific Advice confirmed that a single Phase 3 immunobridging study demonstrating immune comparability to the approved MVA vaccine, Imvanex(R), would be sufficient to evaluate GEO-MVA’s efficacy. This provides a clear, accelerated regulatory path to licensure. This milestone coincides with increasing Mpox activity globally – including expanding Clade I outbreaks in Africa and emerging cases in the United States – exposing vulnerabilities associated with global dependence on a sole foreign MVA vaccine supplier. GEO-MVA is designed to expand supply, diversify sources, and strengthen biodefense infrastructure.

GeoVax announced (Dec. 16) that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. Patent Application No. 17/888,131, titled “Recombinant Modified Vaccinia Ankara (rMVA) Expressing Spike, Membrane, and Envelope Proteins of SARS-CoV-2.”

Volato Group, Inc. (NYSE American: SOAR, $1.10, +5.77%) and M2i Global, Inc. (MTWO, $.075), a company specializing in the development and execution of a complete global value supply chain for critical minerals, today announced key developments in its pending all-stock merger with M2i Global, Inc.. Volato has filed the Registration Statement on Form S-4 with the U.S. Securities and Exchange Commission (the “SEC”), following the SEC’s completion of its review of the initial confidential submission. With the reopening of federal agencies following the recent government shutdown, both companies now anticipate closing the merger in the first quarter of 2026, pending completion of SEC review and shareholder approval.

On Dec, 18 Volato Group, Inc. (NYSE American: SOAR, $1.10, +5.77%) and M2i Global, Inc. (MTWO, $.075) announced that they applaud the recent December 11, 2025 announcement from the U.S. Department of State whereby Pax Silica, a U.S.-led strategic initiative to build a secure, prosperous, and innovation driven silicon supply chain—from critical minerals and energy inputs to advanced manufacturing, semiconductors, AI infrastructure, and logistics, was formed.

Volato Group, Inc. (NYSE American: SOAR) announced today that it has set a preliminary date of February 26, 2026 and preliminary record date of January 17, 2026 for a special meeting of shareholders to vote on the proposed merger with M2i Global, Inc. (MTWO) and related matters. The preliminary meeting date and record date remain subject to applicable regulatory and exchange requirements, including the effectiveness of Volato’s Registration Statement on Form S-4 (File No. 333-292132) (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission (“SEC”) and the mailing of definitive proxy materials to shareholders. The proposed merger creates a combined company built for scale. M2i Global brings a platform focused on critical minerals and national supply chain resilience, while Volato contributes proven aviation technology, software capability, and an established track record of operational execution. Together, the companies aim to participate in a U.S. critical minerals market estimated at more than $320 billion annually.

Volato Group, Inc. (NYSE American: SOAR) with M2i Global, Inc. (MTWO) announced on Nov. 19 that Nimy Resources (“Nimy”) and M2i will collaborate with the aim of forming commercially binding contract terms for the respective sale and purchase of gallium production. They also announced (Oct. 16) the next phase of development of the digital and commercial infrastructure underpinning the U.S. Strategic Mineral Reserve (SMR). M2i initiated the SMR framework and technical specifications earlier this year. Volato is now applying its proven enterprise-software expertise to build and operationalize the secure technology backbone that will support critical mineral traceability, contracting, and compliance across the United States and allied nations. This infrastructure is being developed to serve as the market-facing layer of the U.S. Strategic Mineral Reserve initiative, providing miners, refiners, recyclers, manufacturers, and government entities with a trusted environment for physical critical mineral transactions—with verified provenance, end-to-end custody visibility, and regulatory compliance at its core.

Serina Therapeutics (NYSE American: SER, $2.64), Alabama-based biotech is betting its proprietary POZ platform and reimagined approach to apomorphine delivery may redefine the treatment paradigm for patients who have exhausted standard oral therapies. On Dec. 11, Serina announced the appointment of Joshua Thomas, Ph.D., as Vice President and Head of Chemistry. He will oversee internal and external chemistry efforts to optimize POZ-based candidates, supporting efficient translation from discovery through development.

On Dec. 10,Serina announced that it has submitted a complete response to the U.S. Food and Drug Administration’s (“FDA”) clinical hold letter for SER-252, the Company’s lead program for advanced Parkinson’s disease. As previously disclosed, the FDA placed the Company’s Investigational New Drug (“IND”) application for SER-252 on clinical hold pending additional information related to a commonly used formulation excipient. On November 25, 2025, the FDA issued a formal full clinical hold letter specifying the information required to permit initiation of the planned Phase 1b registrational study, SER-252-1b. The issues identified by the FDA do not relate to the apomorphine active drug substance, its mechanism of action, the use of the enFuse device (Enable Injections) or the broader 505(b)(2) NDA development pathway previously discussed with the Agency.

The InterGroup Corporation (NASDAQ: INTG, $29.08) reported (Nov. 17) results for the three months ended September 30, 2025. John V. Winfield, Chairman and Chief Executive Officer, said: “We continue to observe signs of stabilization and recovery across the San Francisco hospitality market, including improving convention calendars, tourism indicators, and business travel activity. On the investment side, our marketable securities activity remained modest with a small net gain, consistent with our emphasis on liquidity and risk discipline.”

DoubleVerify Holdings Inc. (DV) closed at $11.33, +.71%. DoubleVerify, which built its franchise on media verification and ad performance analytics, is now the first badged TikTok Marketing Partner focused specifically on attention measurement, tapping impression-level signals from the platform. Brands gain a granular view of how exposure and user interaction come together across TikTok formats, ad sets, creatives, and objectives, effectively treating every swipe as a tiny A/B test.

Rocket Lab Corporation (Nasdaq: RKLB, $59.92, +11.05%), a global leader in launch services and space systems, today successfully launched the STP-S30 mission for the U.S. Space Force’s (USSF) Space Systems Command (SSC) – completing the launch five months ahead of schedule and playing a critical role in advancing technologies that ensure U.S. superiority in space.

Sources

1. https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-micron-cool-inflation-nike-fed-earnings/
2. https://www.interactivebrokers.com/campus/traders-insight/securities/macro/colossal-cpi-miss-keeps-hope-of-santa-alive-dec-18-2025/
3. https://tradingeconomics.com/commodity/gold
4. http://virginiabusiness.com/wall-street-rallies-soft-inflation-micron-ai/
5. https://www.seattlepi.com/business/how-major-us-stock-indexes-fared-thursday-a21250812
6. https://www.indexbox.io/blog/us-stock-market-nears-all-time-high-in-december-2025/
7. https://ycharts.com/indicators/20_year_treasury_rate
8. https://ycharts.com/indicators/10_year_treasury_rate
9. https://tradingeconomics.com/united-states/30-year-bond-yield
10. https://coingape.com/fomc-meeting-december-2025-schedule-key-expectations-and-interest-rate-outlook/
11. https://en.wikipedia.org/wiki/2025_United_States_federal_government_shutdown
12. https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
13. https://www.npr.org/2025/11/15/nx-s1-5609367/trump-government-shutdown-what-to-know-longest
14. https://www.5paisa.com/blog/us-fed-fomc-meeting-calendar-schedule
15. https://ca.investing.com/news/commodities-news/goldman-sees-gold-at-4900-by-december2026-projects-oil-price-decline-copper-remains-favored-industrial-metal-4372263
16. https://www.youtube.com/watch?v=vOA2qud–Bw
17. https://www.investors.com/research/ibd-stock-of-the-day/eli-lilly-weight-loss-pill-novo-nordisk-cagrisema/
18. https://finance.yahoo.com/news/why-eli-lilly-lly-stock-165049332.html
19. https://www.ainvest.com/news/eli-lilly-lly-buy-opportunity-analyst-consensus-strong-earnings-momentum-2512/
20. https://www.bloomberg.com/news/articles/2025-12-17/stock-market-today-dow-s-p-live-updates
21. https://finance.yahoo.com/news/us-high-growth-tech-stocks-113815628.html
22. https://www.marketbeat.com/instant-alerts/technology-stocks-to-keep-an-eye-on-december-17th-2025-12-17/
23. https://www.marketbeat.com/instant-alerts/large-cap-stocks-worth-watching-december-16th-2025-12-16/
24. https://theoptionsinsider.com/news/most-active-options/hotoptions-report-for-mid-day-december-17-2025-tsla-nvda-avgo-nflx-pltr-orcl-googl-amd-amzn-aapl-mstr-crwv-goog-mara-hood-mu-wbd-meta-intc-sofi/
25. https://www.youtube.com/watch?v=QOjOHKHUZCQ
26. https://fintel.io/sofStockWeeklyLeaderboard
27. https://www.townebank.com/trust/resources/market-commentary-december-2025/
28. https://stockanalysis.com/ipos/calendar/
29. https://www.iposcoop.com/ipo-calendar/
30. https://finance.yahoo.com/calendar/ipo?day=2025-12-18
31. https://www.marketwatch.com/tools/ipo-calendar
32. https://www.marketbeat.com/stocks/NYSE/LLY/news/
33. https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates&field_tdr_date_value=2025
34. https://fred.stlouisfed.org/series/DGS10
35. https://www.ustreasuryyieldcurve.com
36. https://www.federalreserve.gov/releases/h15/
37. https://www.investing.com/rates-bonds/usa-government-bonds
38. https://www.federalreserve.gov/newsevents/2025-december.htm
39. https://www.whitehouse.gov/government-shutdown-clock/
40. https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics
41. https://www.mnimarkets.com/calendars/fomc-meeting-calendar
42. https://www.opb.org/article/2025/12/18/under-trump-federal-job-losses-soared-as-firings-chaos-prevailed/
43. https://abcnews.go.com/alerts/governmentshutdown
44. https://fred.stlouisfed.org/series/T10Y2Y
45. https://www.indexbox.io/blog/us-stocks-fall-for-fourth-straight-day-marking-worst-run-in-a-month/
46. https://www.wsj.com/livecoverage/cpi-report-today-inflation-stock-market-12-18-2025/card/s-p-nasdaq-on-pace-for-best-cpi-day-since-january-E4CsRcTNeFGZLwKrVZsO
47. https://www.marketwatch.com/livecoverage/stock-market-today-sp500-dow-to-break-4-day-losing-streak-micron-earnings-cpi-inflation-nike/card/s-p-500-futures-rise-as-tech-stocks-look-to-rally-after-sell-off-LPYrOWwj6vJZUeqLqNz6
48. https://fsinsight.com/members/market/
49. https://abcnews.go.com/Business/wireStory/major-us-stock-indexes-fared-tuesday-11182025-127646575
50. https://finance.yahoo.com/quote/%5EGSPC/history/
51. https://tradingeconomics.com/united-states/stock-market
52. https://seekingalpha.com/news/4533101-market-voices-lillys-new-obesity-pill-nyse-owner-eyes-crypto-firm
53. https://www.cnbc.com/2025/12/18/why-eli-lilly-shares-should-be-higher-plus-our-wishlist-for-nike.html
54. https://www.marketbeat.com/instant-alerts/filing-woodstock-corp-buys-1825-shares-of-eli-lilly-and-company-lly-2025-12-18/
55. https://www.nasdaq.com/articles/better-pharmaceutical-buy-eli-lilly-vs-novo-nordisk
56. https://www.lilly.com/news/press-releases
57. https://www.investors.com/news/technology/eli-lilly-stock-buy-now/
58. https://www.disruptionbanking.com/2025/12/08/eli-lilly-hit-1-trillion-and-still-cant-get-into-the-dow/
59. https://finance.yahoo.com/news/eli-lilly-company-lly-expands-174647208.html