Charts & Chat - December 14, 2025

Eric Boyce • December 15, 2025

This week, CEO Eric Boyce, CFA discusses:

1. estimates heading into 2026 call for 8.7% stock growth off 12-14% earnings growth - estimates are a guide but a by no means an absolute

2. Fed cuts rates for the last time in 2025, what are the implications

3. the nuts and bolts behind the K-shaped economy for consumers, investors, businesses etc.

4. reasons behind recent improvement in trade; downtrend in employment costs

5. international equity outlook positive for 2026, risk appetite higher in all global markets

6. Mag 7 not uniformly beating the broader index; some improvements in breadth

7. yield curve positive, but longer term rates are higher than when the Fed began cutting short term rates. May see more volatility in bonds in 2026

8. commodity trends mixed; crude/distillate stocks lower, implying higher prices ahead




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