Markets close out 2025’s last full week of trading on a cheerful note

Stocks rallied for the second day in a row, with the S&P 500, Nasdaq 100, and Russell 2000 all closing higher

Your Evening Briefing December 19, 2025 Markets close out 2025's last full week of trading on a cheerful note The markets rallied on Friday to close the final full week of trading on a holly jolly holiday note, with the S&P 500, Nasdaq 100, and Russell 2000 all finishing in the green, buoyed by a return to optimism around the AI trade. Stocks that moved higher: Oracle soared after TikTok signed an agreement Thursday night to sell its US operations to a consortium that includes the cloud computing giant. The data center companies colloquially known as the "neoclouds" — CoreWeave, Nebius, IREN, and Cipher Mining — all shot back into the stratosphere following a steady drumbeat of positive news for the AI theme. After a "sell the news" moment following President Trump's executive order directing regulators to reclassify marijuana as a less dangerous drug, the AdvisorShares Pure US Cannabis ETF soared on Friday as investors bet "institutional capital will go into the underlying names" Rivian rose double-digits for the second day in a row to hit a high not seen since December 2023. Carnival rode a wave of good news with its latest earnings report, which beat analyst expectations and delivered a strong full-year outlook for 2026. Stocks that moved lower: Lyft sank following a downgrade from Wedbush, which said the market is underestimating the negative impact that autonomous vehicles and robotaxi services will have on companies like Lyft and Uber. Nike plunged on weak guidance after China sales slid, tariffs hit its margins, and direct-to-consumer sales stumbled. Lamb Weston suffered after management warned of pressures on profits ahead even though it did report generally positive quarterly results. Health insurers such as Humana, UnitedHealth, Cigna, and Elevance Health dipped following President Trump's statement that he plans to lobby insurers for lower prices. 6 major trends to keep watching in 2026 We've made a lot of charts this year — here are some of the biggest trends of 2025 and where we think they might go in the 12 months ahead. And no, it's not just about AI. Read more. Marijuana rescheduling could mean more investment in US weed stocks. There aren't many ways in. "Yes, institutional capital will go into the underlying names. The question is: How fast?" one weed company CEO said. Read more. What is OpenAI actually worth? This week we've read multiple reports that OpenAI is in early discussions with potential investors about a significant fundraising round of up to $100 billion, and the company's estimated valuation keeps changing. Read more.  There are lots of naughty elves out there, so watch out for the four common scams this holiday season. What's the difference between fusion and fission anyway? An illustrated tale of what happens when hyperscalers bring AI to small-town America. 💥🏈 We've kicked off a new newsletter: Scoreboard 🏀🏅 Stay ahead of the curve on games, stats, and sports news with Sherwood News' latest daily markets dispatch. Sign up here! Was this email forwarded to you? Don't miss out on future stories — subscribe to The Wrap and get your daily dose of financial news straight to your inbox.  Craving more insights in your inbox? Subscribe to Chartr and Snacks for quality reads. We care what you think! If you have any feedback or comments, feel free to reply and let us know your thoughts!  Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more Sherwood Terms and Conditions Our Editorial Standards Contact Us Advertise With Us Unsubscribe Privacy Policy SHERWOOD MEDIA, LLC, 85 Willow Road, Menlo Park, CA 94025