S&P 500 Ends Year Up About 17% as New Year's Eve Session Declines
Stocks had a down New Year's Eve session to close out a strong year for the market. The typical year-end rally didn't materialize, but the S&P 500 still finished the year up about 17% as AI optimism, lower borrowing costs, and strong earnings fueled a rally despite the hurdles of trade policy, geopolitical tensions, and valuation concerns.Get caught up quickly on the top news and calls moving stocks with this Midday Fly By.1. STOCK NEWS:Nvidiascrambling to meet strong demand for H200 AI chip in China, Reuters reportsShares of Vanda Pharmaceuticalsjumped after thefor prevention of vomiting induced by motion sicknessShares of Corcept Therapeuticswere halved after the company received afrom the FDA regarding relacorilant as a treatment of hypertension secondary to hypercortisolism, citing the need for additional evidence of effectivenessHyatt (H) said it expects FY25 EBITDA at the low end of its previously guided rangein October2. WALL STREET CALLS:Keefe BruyetteTeraWulfon its high performance compute transitionWedbushGlobalFoundriesamid an elongated down cycleClear StreetPlug Powerto Buy on the path seen to profitabilityWedbushTower Semiconductorto Neutral on valuation3. AROUND THE WEB:Brookfieldplans to launch a cloud business that leases chips inside data centers directly to AI companies, Information reportsWhile an exact viewership total for December 25 was not provided, Netflixreports that the second volume of "Stranger Things" Season 5, two NFL games and other holiday viewing helped it achieve its highest Christmas Day viewership of all time this year, Variety reportsDrugmakers including Pfizer, Sanofi, Boehringer Ingelheim, Novartisand GSKplan to raise U.S. prices on at least 350 branded medications, Reuters reportsA CSXtrain that derailed in a rural area of southern Kentucky leaked a flammable chemical and sparked a fire, after which authorities issued a shelter-in-place order for residents who were close by, AP saysAhead of Meta Platforms'acquisition, Manus positioned itself for U.S. investment by creating distance from its Chinese roots and moving to Singapore, WSJ says4. MOVERS:Ondasincreases after securing $10M inTrump Mediagains after announcing plans toto shareholdersServe Roboticshigher after Freedom Capitalof the stock with a Buy ratingRobinhoodfalls after Barclays said preliminary December metrics indicate its transaction revenue5. EARNINGS/GUIDANCEOne Stop Systemsfor FY25Constellation Brandstoon January 7, 2026RPM Internationaltoon January 8, 2026Jefferies Financialtoon January 7, 2026INDEXES:The Dow fell 303.77, or 0.63%, to 48,063.29, the Nasdaq lost 177.09, or 0.76%, to 23,241.99, and the S&P 500 declined 50.74, or 0.74%, to 6,845.50.
