Risk Managed Strategy Funds

John Hancock: Weekly Market Recap Weed Ended December 19

December 23, 2025

Inflation surprise

U.S. stock indexes climbed on Thursday after a report showed weaker-than-expected inflation, potentially giving the U.S. Federal Reserve more room to consider further rate cuts in 2026. The Consumer Price Index rose at a 2.7% annualized rate in November, below economists’ consensus forecast for a 3.1% figure.

 

Precious metals shine

Precious metals prices continued to rise, with silver surpassing $67 per ounce for the first time ever and gold eclipsing a record set two months earlier. With less than two weeks left in 2025, silver was up more than 130% year to date based on Friday’s prices, and gold was up 64%.

 

Earnings outlook

Earnings for companies in the S&P 500 are projected to post double-digit growth for the second year in a row. With about a month to go before fourth-quarter results are released, FactSet reported that analysts expect full-year 2025 earnings to grow by an average of 12.1% over 2024’s results. Energy is the only sector that’s forecast to post an earnings decline.

 

Buyback comeback

Stock buybacks by U.S. companies rebounded in the third quarter after slipping in the previous quarter amid heightened uncertainty over issues such as tariffs. Share repurchases by companies in the S&P 500 totaled $249 billion in the July to September period, up more than 6% from the second quarter’s figure, according to S&P Dow Jones Indices.

 

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