Overview

The U.S. stock market concluded 2025 on a high note, with major indexes achieving significant double-digit gains despite a slight dip on the year's final trading day. The S&P 500 rose 16%, the Nasdaq surged 20%, and the Dow gained 13%, driven by optimism surrounding artificial intelligence and resilient corporate earnings. However, challenges like tariff concerns and market dependency on tech remained. Looking ahead, analysts predict continued market strength in 2026, though risks from AI and economic uncertainties persist.

Novo Nordisk's FDA approval for its oral weight-loss drug, Wegovy, marks a significant milestone for the company and the obesity market. The pill, which showed superior weight-loss results in trials, offers a convenient alternative to injectables and aims to expand access for millions of patients. This development could help Novo regain market share amidst competition from Eli Lilly and others in a rapidly growing $150 billion obesity market.

November saw a modest 0.5% rise in U.S. home sales compared to October, but sales were down 1% year-over-year. High mortgage rates, limited housing supply, and elevated prices continue to weigh on potential buyers. Inventory levels dropped 5.9% month-over-month, while the national median home price reached $409,200, a 1.2% increase from the previous year. First-time buyers remain at 30% of sales, below the historical average of 40%. Experts highlight the importance of mortgage rates and economic conditions for a potential market rebound in 2025.

TikTok and its parent company ByteDance have agreed to create a joint venture, granting American investors majority control of its U.S. operations. Key investors include Oracle, Silver Lake, and MGX, holding a 45% stake collectively. ByteDance retains 20% ownership, with the deal expected to finalize by January 2026. The new entity will oversee data security, content moderation, and algorithm integrity, addressing U.S. national security concerns. This agreement marks a significant step in resolving tensions over TikTok’s Chinese ownership.