top of page
Search

Weekly Market Update – December 1, 2025

Price Return Last Week

S&P 500 +3.7%   S&P Mid Cap  +3.9%    Russell 2000   +5.6%   

MSCI EAFE   +3.3%     MSCI EM +2.5%   

10 Yr US Treasury Rate – fell from 4.06% to 4.02%

Source: Refinitiv Eikon

Recent News


Jobs Report – Sep: 119k (Reuters Poll est. 50k) Aug: -4k

After being delayed over 6 weeks due to the government shutdown, the Labor Department reported that payrolls rose by 119,000 jobs in September.  This was partially offset by a reduction in the number of jobs added in August from a gain of 22,000 to a loss of 4,000.  A jobs report for October will not be released as the Labor Department noted that they were unable to collect the necessary data during the shutdown.  The next jobs report is scheduled for release on December 16 and will show the change in payrolls for the month of November.  The odds of an interest rate cut in December by the Federal Reserve fell to approximately 33% after the report was released but have since rebounded to over 90%.

Source: The Wall Street Journal, Refinitiv Eikon


Black Friday Sales – American shoppers spent a record $11.8 billion online on Black Friday, up 9% from a year ago.  By comparison, in-store sales grew just 2% compared to last year.  Traffic from AI tools to U.S. retail websites was up over 800% versus 2024 with Salesforce estimating that approximately $3 billion of online sales in the U.S. were influenced by AI or AI agents.  Despite the record sales figures, volumes were down 1% year-over-year, but this was more than offset by higher prices.

Source: Thomson Reuters


Fed Minutes – Newly released minutes from the Federal Reserve’s meeting in October show that “many” officials did not believe an additional interest rate cut would be needed in December but more cuts in 2026 would be likely.  The release underscores the divisive opinions currently present at the Fed and the uncertain path that interest rates will take from here.

Source: The Wall Street Journal


Digital Driver’s License in IL – Illinois launched digital IDs and digital driver’s licenses on November 19.  iPhone users can now add their driver’s license to their Apple Wallet and the ID will be valid at TSA checkpoints and restaurants and bars, but they will not be accepted by law enforcement officials.  Users will be allowed to decide what personal information to share when presenting their digital ID, allowing those purchasing alcohol or renting a car to hide unnecessary personal information such as their address.  Illinois will be the thirteenth state to offer digital driver’s licenses.

Upcoming Events


12/1 – ISM Manufacturing PMI


12/3 – ADP National Employment Report, ISM Non-Manufacturing PMI, Notable Earnings Reports: Salesforce


12/4 – Notable Earnings Reports: Kroger, Ulta Beauty


12/5 – PCE, Consumer Sentiment

Source: Refinitiv Eikon

bottom of page