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President Donald Trump is taking his pressure campaign to the next level against Venezuelan President Nicolás Maduro and making it clear he doesn’t believe the strongman should be leading the country — all while China and Russia are speaking out on the escalating conflict involving their ally.

The Trump administration has launched a series of strikes targeting alleged drug boats off the coast of Latin America in recent months and announced this month a ‘complete blockade of all sanctioned oil tankers going into and out of Venezuela’ as his administration has significantly beefed up its naval assets in the region. 

While the Trump administration has said that these efforts align with the administration’s effort to curb the influx of drugs into the U.S., the campaign also appears geared toward removing Maduro from power. This isn’t the first attempt by Trump to squeeze out Maduro. He previously imposed sanctions on Venezuela and backed opposition leader Juan Guaidó during his first term. 

As a result, Trump said Monday that Washington’s pressure campaign against Venezuela would ‘probably’ be sufficient to coerce Maduro to step down and made it clear he believes that’s something Maduro should be doing.

‘That’s up to him, what he wants to do,’ Trump said Monday. ‘I think it would be smart for him to do that. But, again, we’re going to find out.’

The White House has historically refused to comment on whether it is pursuing regime change in Venezuela even though it does not recognize Maduro as a legitimate head of state and insists he is the leader of a drug cartel. 

China and Russia are speaking out about U.S. actions in the region, accusing the U.S. of breaking international law after the U.S. seized multiple oil tankers off the coast of Venezuela. The first seizure occurred Dec. 10, and Trump confirmed Monday that the U.S. is still pursuing another oil tanker that a U.S. official told Fox News Digital is a ‘sanctioned dark fleet vessel that is part of Venezuela’s illegal sanctions evasion.’

‘The U.S. practice of arbitrarily seizing other countries’ vessels grossly violates international law,’ Chinese Foreign Ministry spokesman Lin Jian told reporters Monday. Jian said Beijing opposes anything that ‘infringes upon other countries’ sovereignty and security, and all acts of unilateralism or bullying.’

Meanwhile, Russia’s Foreign Ministry said Foreign Minister Sergey Lavrov and Venezuela’s Minister of Foreign Affairs Yván Gil spoke over the phone Monday, and the ‘Russian side reaffirmed its all-out support and solidarity with the leaders and people of Venezuela in the current context.’ 

‘The ministers expressed grave concern in connection with Washington stepping up its escalation actions in the Caribbean, actions fraught with far-reaching consequences for the region and creating a threat for international shipping,’ the statement said.

Katherine Thompson, a senior fellow in defense and foreign policy studies at the libertarian think tank the Cato Institute, previously told Fox News Digital that adversaries like Russia and China are likely perplexed as to why the Trump administration has zeroed in on the Maduro regime. That’s because Caracas doesn’t jeopardize U.S. interests as much as other actors, in addition to the Trump administration’s ‘American First’ mantra, Thompson said. 

‘I imagine, for them, it’s probably a bit puzzling if they’re looking at it through a real, brass tacks, realist lens why this administration would be prioritizing ousting the Maduro regime as opposed to conflicts in other theaters,’ Thompson said earlier in December. 

The Trump administration has conducted nearly 30 strikes in Latin American waters since September as part of its hard-line approach to crack down on the influx of drugs into the U.S. 

For example, the Trump administration designated drug cartel groups like Tren de Aragua, Sinaloa and others as foreign terrorist organizations and bolstered its naval assets in the region in recent months, including signing off on the unprecedented step of sending the aircraft carrier USS Gerald R. Ford to the region.

In addition to the strikes against alleged drug vessels, Trump has suggested for months that strikes on land could be the next step.

‘We’re knocking out drug boats right now at a level that we haven’t seen,’ Trump said Dec. 3. ‘Very soon we’re going to start doing it on land too.’

Although the Trump administration has said it has the authority to conduct these attacks against alleged drug boats, Democrats and some Republicans have questioned the legality of the strikes.

Senate Minority Leader Chuck Schumer, D-N.Y., and senators Tim Kaine, D-Va., Adam Schiff, D-Calif., and Rand Paul, R-Ky., introduced a war powers resolution this month to bar Trump from using U.S. armed forces to engage in hostilities within or against Venezuela.

Fox News’ Lucas Tomlinson contributed to this report. 

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The president of the Kennedy Center on Friday sharply criticized longtime jazz musician Chuck Redd for canceling his Christmas Eve performance days after the White House announced that President Donald Trump’s name would be added to the iconic performing arts institution in Washington, D.C.

Kennedy Center president Richard Grenell said Redd’s decision financially harmed the nonprofit institution, and he would seek $1 million in damages, accusing him of carrying out a ‘political stunt.’

‘Your decision to withdraw at the last moment — explicitly in response to the Center’s recent renaming, which honors President Trump’s extraordinary efforts to save this national treasure — is classic intolerance and very costly to a non-profit Arts institution,’ Grenell wrote in a letter to Redd, obtained by Fox News Digital.

Fox News Digital could not immediately reach Redd for comment.

Redd, who has hosted holiday Jazz Jams at the venue since 2006, abruptly canceled his Christmas Eve performance after Trump’s name was added to the facility.

‘When I saw the name change on the Kennedy Center website and then hours later on the building, I chose to cancel our concert,’ Redd told The Associated Press on Wednesday.

On Dec. 18, the Kennedy Center’s board voted unanimously to rename the institution the ‘Trump-Kennedy Center.’

The update was immediately criticized by members of the Kennedy family who argued it undermined the legacy of President John F. Kennedy.

Maria Shriver, Kennedy’s niece, reacted harshly to the decision, saying it was ‘beyond comprehension.’

Several artists have canceled performances at the Kennedy Center since Trump’s return to office, including Lin-Manuel Miranda, who called off a production of ‘Hamilton.’

Kennedy Center vice president of public relations Roma Daravi told Fox News Digital Friday that Redd was politicizing art by calling off his performance.

‘Any artist canceling their show at the Trump Kennedy Center over political differences isn’t courageous or principled—they are selfish, intolerant, and have failed to meet the basic duty of a public artist: to perform for all people,’ she said in a statement.

Daravi stated that art is ‘a shared cultural experience meant to unite, not exclude,’ calling the venue ‘a true bipartisan institution that welcomes artists and patrons from all backgrounds.’

She added that ‘great art transcends politics,’ and that ‘America’s cultural center remains committed to presenting popular programming that inspires and resonates with all audiences.’

Last week, workers added President Trump’s name to the building’s exterior, and the website header was updated to read, ‘The Trump Kennedy Center.’

The Associated Press contributed to this report.

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White House Press Secretary Karoline Leavitt is expecting a baby girl, Fox News Digital has learned. 

Leavitt and her husband Nick are expecting their second bundle of joy to be born in May 2026. Their first son, Niko, was born in July 2024.

‘My husband and I are thrilled to grow our family and can’t wait to watch our son become a big brother,’ Leavitt told Fox News Digital. ‘My heart is overflowing with gratitude to God for the blessing of motherhood, which I truly believe is the closest thing to Heaven on Earth.’

Leavitt told Fox News Digital that she is ‘extremely grateful to President Trump and our amazing Chief of Staff Susie Wiles for their support, and for fostering a pro-family environment in the White House.’

‘Nearly all of my West Wing colleagues have babies and young children, so we all really support one another as we tackle raising our families while working for the greatest president ever,’ Leavitt said.

Leavitt added: ‘2026 is going to be an amazing year for the President and our country, and personally, I am beyond excited to become a girl mom.’ 

A senior White House official told Fox News Digital that Leavitt will remain in her post as press secretary.

Leavitt will be the first pregnant press secretary in U.S. history.

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President Donald Trump said he will call the final shots on a peace deal to end the conflict between Russia and Ukraine, with Ukrainian President Volodymyr Zelenskyy preparing to unveil a new peace plan when the two meet Sunday. 

‘He doesn’t have anything until I approve it,’ Trump told Politico Friday. ‘So we’ll see what he’s got.’

Zelenskyy told reporters Friday he will meet with Trump Sunday in Florida and will share a 20-point peace proposal for the president to review. 

Additionally, Zelenskyy said the meeting will likely focus on security guarantees for Ukraine, adding it was unclear if ‘territorial issues will be discussed.’

‘The 20-point plan that we worked on is 90% ready. Our task (is) to make sure that everything is 100% ready. It is not easy, and no one says that it will be 100% right away, but nevertheless we must bring the desired result closer with each such meeting, each such conversation,’ Zelenskyy told reporters Friday.

The White House did not respond to a request for comment from Fox News Digital to confirm the meeting. 

Trump voiced optimism about the meeting with Zelenskyy and future conversations with Putin. 

‘I think it’s going to go good with him. I think it’s going to go good with [Vladimir] Putin,’ Trump told Politico. Trump also said that he expects to speak with Putin ‘soon.’

Trump said in November he would not meet with Zelenskyy again — or Putin — unless a deal to end the war was in its final stages. 

Zelenskyy has indicated progress is being made and touted that he had a ‘a very good conversation’ with Jared Kushner and U.S. special envoy Steve Witkoff Thursday. Specifically, Zelenskyy said, talks focused on ending the war and efforts to ensure lasting peace in the region.

Trump has met with Zelenskyy multiple times since taking office in January, including in February when Zelenskyy sparred openly with Trump and Vance in the Oval Office over engaging in diplomacy with Russia to end the conflict. Additionally, Trump met with Putin in Alaska in August. 

Fox News’ Rachel Wolf contributed to this report. 

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As a writer, there are times when I read something and think, ‘Wow, that’s good, this cat has chops.’ Very rarely do I read something that’s new, that I didn’t know was possible. Ben Sasse, he just wrote one of those.

The former Republican senator from Nebraska was informing the nation that he has stage four cancer and is going to die soon.

‘Advanced pancreatic is nasty stuff; it’s a death sentence,’ he write. ‘But I already had a death sentence before last week too — we all do.’

It may seem trivial, or even cruel to ponder Sasse’s written words when we know the pain he and his family must feel, but it is not trivial to me, and never has been in the history of man.

Shakespeare called death the undiscovered country, but Sasse preferred to focus on what we know, writing, ‘To be clear, optimism is great, and it’s absolutely necessary, but it’s insufficient. It’s not the kinda thing that holds up when you tell your daughters you’re not going to walk them down the aisle. Nor telling your mom and pops they’re gonna bury their son.’

‘Kinda,’ as a writer, this casual usage that my editors often change when I employ it is the embodiment of what Sasse has wrought here. His words make me think that beauty always portends tragedy, but that’s okay. To invoke a New Yorkism, it is what it is.

Sasse, who went from the Senate to serve as president of University of Florida until last year, goes on to say, ‘A well-lived life demands more reality — stiffer stuff. That’s why, during Advent, even while still walking in darkness, we shout our hope — often properly with a gravelly voice soldiering through tears’

Aside from a few modern references, Sasse’s letter to our nation would have been understood perfectly 2,500 years ago in Athens, where such writing of the examination of the human condition was born.

Sasse tells us that, ‘Remembering Isaiah’s prophecies of what’s to come doesn’t dull the pain of current sufferings. But it does put it in eternity’s perspective: 

‘When we’ve been there 10,000 years…We’ve no less days to sing God’s praise.’

Maybe what stands out the most in this incredible piece of writing is that it is not performative at all, in an age in which everything is. In the law, a dying declaration holds special weight. In Sasse’s pen, it holds our hearts.

Much of our languages’ great work involves death, Dylan Thomas imploring his father in poetry: ‘Do not go gentle into that good night.

Rage, rage against the dying of the light.

As I read his profound letter to us, I couldn’t help but see the image of Sasse in his running clothes, stooped on a stone wall at the capitol, chopping it up with Schumer and McCain. Just a regular guy, one of us.

Reading his words about his own mortality, I see now he is much more than that. I spend almost the whole time I’m awake reading, when I’m not writing. At 50, little surprises me. This did.

My mother died of damnable cancer when I was 24, her final request of me was to write and deliver her eulogy, and I’ll be honest the request felt too hard. But when she died, I had a job to do, and for two days I did nothing but write, it was her last gift, she knew me, and she got me through it.

I’m so grateful for Sasse’s words, and that at a time when everything is so ugly, he took the occasion of personal horror to buck us up. His great-great-grandchildren will know of it and feel rightful pride.

God bless Ben Sasse and his family, and may his profound and beautiful words echo down the centuries as the epitome of grace in a falling world.

As a writer, I want to say, thank you senator, I know right now it must seem completely insignificant, but there is a scribe in West Virginia today who will be forever changed by those words, and I’m grateful for it.

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North Korea showed off its apparent progress in the development of a nuclear-powered submarine. State media released photos of North Korean dictator Kim Jong Un and his daughter, a potential heir, as they inspected what appears to be a largely completed hull.

The Korean Central News Agency (KCNA), North Korea’s official state media, said Kim and his daughter visited the shipyard to examine the construction of what it describes as an 8,700-ton-class nuclear-propelled submarine, The Associated Press reported. Pyongyang has signaled that it plans to arm the submarine with nuclear weapons, the AP noted. Kim has said the development of the submarine is a crucial step toward the modernization and nuclear armament of his country’s navy.

The Christmas Day release of the photos marks the first time North Korean state media has shown an update on the nuclear-powered submarine since March. Earlier images mostly showed the lower sections of the vessel, the AP noted. The KCNA did not say when the photos released on Thursday were taken.

Moon Keun-sik, a submarine expert at Seoul’s Hanyang University, told the AP that the photos of a largely completed hull indicate that many of the core components are already in place, as submarines are typically built from the inside out. However, it was not immediately clear exactly how much progress Pyongyang had made.

‘Showing the entire vessel now seems to indicate that most of the equipment has already been installed and it is just about ready to be launched into the water,’ Moon, who also served as a submarine officer in the South Korean navy, told the AP. Moon added that North Korea’s submarine could be ready for testing at sea within months.

While at the shipyard, Kim condemned South Korea’s efforts to develop its own nuclear-powered submarine as an ‘offensive act,’ despite the fact that President Donald Trump has backed Seoul’s push toward the technology. Kim said South Korea’s efforts violate North Korea’s security and maritime sovereignty, according to the AP.

In October, during his tour of Asia aimed at securing investments, Trump said that the U.S. would share technology with South Korea that would allow it to build a nuclear-powered submarine. The president posted on Truth Social that the vessel would be built in Philadelphia.

‘South Korea will be building its nuclear-powered submarine in the Philadelphia shipyards, right here in the good ol’ U.S.A. Shipbuilding in our country will soon be making a BIG COMEBACK,’ the president wrote.

The White House underscored the point when it released a fact sheet in November which directly referenced Washington and Seoul’s efforts to ‘further our maritime and nuclear partnership.’

The Associated Press contributed to this report.

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Craig Hemke, publisher of TFMetalsReport.com, shares his thoughts on the gold and silver markets heading into 2026, outlining why he remains bullish.

‘Just keep adding some — it’s your protection against the madness. It’ll get you through the storm,’ he said. ‘It preserves your net worth from the destruction of these bankers and politicians.’

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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Altius Minerals (TSX:ALS,OTCQX:ATUSF) is making a bet on a lithium market recovery, agreeing to acquire Lithium Royalty (TSX:LIRC) in a C$520 million deal that will expand its exposure to battery metals.

Under a definitive agreement announced by the two companies on Monday (December 22), Altius plans to purchase all of the issued common and convertible common shares of Lithium Royalty for C$9.50 each.

The amount will be paid as either C$9.50 in cash or 0.24 of a common Altius share, according to shareholders’ election.

For Altius, the acquisition will allow it to bring a portfolio of 37 lithium royalties into its fold. None of them involve streams, and they span projects from production through early exploration.

Four of the royalties are tied to producing assets, three of which were commissioned in 2025 and are currently ramping up or expanding. Another 12 projects are in advanced stages with completed economic studies, while three to five additional assets are targeting startup between 2026 and 2030.

The company said the portfolio is geographically concentrated in lower-risk jurisdictions, with most assets located in Canada, Australia and South America, and diversified across both brine-based and hard-rock lithium production.

At the current spot price, Altius expects the acquired royalties to contribute between US$29 million and US$43.7 million in annual revenue by the end of the decade. Lithium carbonate equivalent prices fell to multi-year lows in 2025, holding below US$9,000 per metric ton for most of the year, even as demand continues to expand beyond electric vehicles.

Altius said global lithium demand is expected to exceed 1.5 million metric tons of lithium carbonate equivalent in 2025, with supply deficits potentially re-emerging as early as 2026 after years of oversupply.

Altius Chief Executive Brian Dalton said lithium has “emerged as a mainstream scale mined commodity,” and described the acquired portfolio as featuring “very long resource lives,” strong cost positioning and low jurisdictional risk.

A special shareholders’ meeting is scheduled to happen no later than March 10, 2026.

If approved, the deal is expected to close in the first quarter of 2026, after which Lithium Royalty shares will be delisted and the company will cease to be a reporting issuer in Canada.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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The biotech sector is entering 2026 with a positive outlook, characterized by reasonable valuations, robust oncology momentum and supportive policy tailwinds. This combination is setting the stage for a continued recovery, driven in part by the integration of artificial intelligence (AI).

However, this sectoral resurgence must navigate a tug-of-war between supportive stimulus and structural risks, which have the potential to challenge the pace of recovery.

Biotech sector rebounding after US uncertainty

According to Song, biotech has rebounded since its lows in April of this year.

Company valuations are trading at a 15 percent discount to broader markets on forward price-to-earnings, with secular demand intact for oncology, obesity and chronic diseases. In Song’s view, the biotech industry’s rebound stems from reduced uncertainty under the administration of US President Donald Trump.

Song added that valuations across healthcare are reasonable, noting rotational flows from cooling AI hype.

“I can’t deny that there have been some rotational effects that not just biotech has benefited (from), but healthcare in general,’ he commented. “While AI is an important driver in healthcare, to our view, it certainly is not priced in to the largest extent in many pockets of healthcare.”

Key biotech sector catalysts in 2026

Song sees healthcare’s recovery extending into 2026, with oncology remaining the primary growth engine.

He characterized the current sector resurgence as a durable structural shift being fueled by key developments that present tangible investment opportunities, including anticipated positive clinical trial outcomes, such as those for Revolution Medicines’ (NASDAQ:RVMD) pancreatic cancer drug.

“They have a lead drug that blocks an important pathway called RAS … and they could have a potential breakthrough in pancreatic cancer. They’re running a Phase III trial to demonstrate a potential survival benefit. There could be meaningful progress there,” Song noted. A data readout is expected next year.

Outside oncology, Song flagged high-profile biotech catalysts that could broaden the sector’s 2026 rally.

“Non-peptide oral GLP-1s … are clearly going to be an important data set readout and launch that could occur next year,” he explained, citing Eli Lilly’s (NYSE:LLY) orforglipron, a daily pill that hit Phase III success for type 2 diabetes and obesity in 2025. Approval is expected in 2026, and he believes it could be a potential game changer in obesity and chronic disease treatments, an area dominated by biotech innovators.

Song also sees validation ahead for platform technologies.

A dual-track recovery for biotech

While macro analysts see a broad cyclical recovery in 2026, Song predicts that the market will be defined by a dual-track recovery: a diagnostics-led initial public offering (IPO) surge, and a biopharma M&A environment focused on companies with the clinical validation required to alter the current standard of care.

Renaissance Capital predicts a faster pace for biotech IPOs, with a strong pipeline of companies such as Aktis Oncology, a radiopharma diagnostics firm targeting solid tumors, ready to list for US$100 million.

Additionally, AlphaSense forecasts steady M&A flow as companies rebuild their pipelines in the new year, a trend that Song sees as a structural necessity rather than a simple trend. “It’s an important pillar where Big Pharma needs to replenish their pipelines, and they can’t all do it internally,” he explained.

Consequently, he believes the primary “hunting ground” for these deals is mid-cap territory, where acquiring one or two proven drugs can effectively move the needle for a large pharmaceutical giant.

AI in the biotech sector

Song maintained that AI has not reached full valuation in the sector, and its role is expected to grow, with significant future productivity gains predicted in biopharma, drug discovery, clinical development and healthcare delivery.

“We’ve done some preliminary work that that that suggests there could be … productivity gains in areas like biopharmaceuticals and drug discovery and clinical development,” Song explained, adding that these are long-term projections. He sees a more immediate economic impact in how care is managed.

“Since healthcare is a large part of the US and global economy, and growing quickly in terms of healthcare costs, there are also opportunities for efficiency gains, which could lead to margin and consumer gains,” he noted. This revolution in delivery is already a key focus for his firm’s Tema Oncology ETF (NASDAQ:CANC).

However, life science market analyst Anastasia Bystritskaya warned that valuation and productivity are not synonymous, as high-performing models do not automatically become revenue-producing products. For investors, the real inflection point is operational integration rather than operating as a standalone prototype.

Drive for efficiency is expected to take a practical form in 2026 through what Sergey Jakimov, managing partner at longevity and biotech venture capital firm LongeVC, described as the “doctor in your hand.”

This AI companion manages routine, low-complexity tasks between clinic visits.

LongeVC anticipates that this shift to a regulated digital workflow will allow AI to identify meaningful clinical signals continuously without overburdening primary care teams.

This democratization of discovery creates a new competitive landscape for the hunting ground Song described; if AI-enabled teams can dissect complex pathways without a billion-dollar balance sheet, the traditional R&D model of Big Pharma faces a permanent disruption. In this new era, the innovation gap could be filled by agile players who use technology to act with the scale of a giant, but the speed of a startup.

Investor takeaway

Despite sector momentum, headwinds remain, particularly regarding the stability of clinical research funding.

A November report in JAMA Internal Medicine reveals that 383 clinical trials recently had their grants terminated, disrupting progress for over 74,000 participants. Dr. Gary K. Zammit, founder of Clinilabs, warned these reductions in National Institutes of Health funding risk slowing future commercial development of innovative therapies.

Macroeconomic headwinds, including rising tariffs and early labor market weakness, also present a material challenge.

Ultimately, the 2026 biotech outlook balances promising catalysts with the need for strategic capital deployment and a focus on clinically validated platform technologies, ensuring a durable expansion for the sector.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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The holiday season brings more than festive cheer, as for investors, it may signal the start of the so-called Santa Claus rally.

The Santa Claus rally is a period between the final trading days of December and the first days of January when stocks tend to climb. While this seasonal uptick isn’t guaranteed, historical data shows that markets rise more often than not during this window, driven by investor optimism, low trading volumes and year-end portfolio adjustments.

Historically, the last five trading days of December and the first two of January have been a period of above-average stock gains, offering a short, sharp rally for markets heading into the new year.

According to the Stock Trader’s Almanac, the Santa Claus rally has delivered an average gain of 1.3 percent for the S&P 500 (INDEXSP:.INX) since 1950. The phenomenon was first documented in 1972 by Yale Hirsch, founder of the Almanac, and continues to shape investor expectations today.

As for whether 2025 will deliver a Santa Claus rally to close out the year, after a choppy first half for December, markets have shown signs that a late-year recovery is possible.

When does the Santa Claus rally start?

The Santa Claus rally typically occurs over the final five trading days of December and the first two trading days of January. For 2025, the rally window begins on Wednesday, December 24, and runs through Monday, January 5, if historical patterns hold.

This narrow window often yields modest, yet consistent, returns for investors who time the market correctly.

While the rally’s timeframe is traditionally short, its effects can ripple through the market into early January. Essentially, a strong performance during this period can set the tone for January.

However, the exact timing of the Santa Claus rally can vary. Some analysts suggest that the rally has started earlier in recent years as investors attempt to front run the effect by increasing their positions in mid-December. This shift may blur the lines between the Santa Claus rally and broader December market upswings.

Will 2025 deliver a Santa Claus Rally?

This year, the S&P 500 fell during the middle of the month following a cooler-than-expected, albeit controversial, inflation report, which raised hopes for additional interest-rate cuts next year.

Despite this downturn, analysts note that a weak start to December has often failed to derail Santa’s run. Since 1950, the S&P 500 finished the Santa Claus rally period higher in 77 percent of years, even after early-month declines. By the end of the week, the index had already regained some ground, and it continued higher in the days leading up to Christmas.

“Barring any major shocks, it will be hard to fight the overwhelmingly positive seasonal period we are entering and the cleaner positioning set-up,” Goldman Sachs’ (NYSE:GS) trading desk team wrote in a note to clients, as reported by Bloomberg. ‘While we don’t necessarily see a dramatic rally, we do think there is room to go up from here into year end.”

Jeffrey Hirsch, editor-in-chief of the Stock Trader’s Almanac and Yale Hirsch’s son, also weighed in on the markets.

“It looks like (the Santa Claus rally) is set up and we can make another high by the end of the year,” he told MarketWatch. Hirsch cited cooler inflation readings and slower job growth in November, which may give the Federal Reserve room to cut interest rates in 2026.

It remains to be seen whether these predictions will come true, or if the market will be weighed down by factors including recent volatility in technology and artificial-intelligence-linked stocks.

Is the Santa Claus rally reliable?

Despite skepticism in some quarters, historical data supports the existence of the Santa Claus rally, and it is well documented.

Historically, the Santa Claus rally has been a relatively consistent period of gains. That said, historical patterns do not guarantee results, and not every year delivers the expected results. The S&P 500 lost about half a percentage point during the Santa rally period in 2024, and consecutive losses are rare but possible.

Columnist Mark Hulbert has expressed skepticism about the event in the past, noting that there is no definitive evidence that the market consistently outperforms during this period.

“An analysis of the past century reveals that the stock market in the weeks prior to Christmas is no more likely to rally than at other times of the year. (I suggest investors) ignore any arguments based on an alleged Santa Claus Rally,” Hulbert warned in an opinion piece posted on MarketWatch in 2018.

In 2019, for example, the market experienced volatility in December, defying the usual pattern.

In a December 2025 interview with CNBC, Jeffrey Hirsch cautioned that failure to rally is not an immediate bear-market signal, but rather “a flag to start looking at the other data — whether it’s seasonal indicators or other fundamental or technical measures.”

Despite the varying takes, many investors view the rally as a psychological phenomenon — one that influences market sentiment even if the returns are marginal.

Strategies for the Santa Claus rally

Now that the Santa Claus rally seems to be underway, investors interested in joining in have a variety of options, including domestic markets, international diversification or targeted sector plays such as mega-cap tech stocks.

As always, consulting with a financial advisor and conducting thorough research remains essential. While the Santa Claus rally offers potential rewards, market conditions can shift quickly, making flexibility and prudence key to success.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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