The stock market's best and worst days tend to arrive together, and the early months of 2026 offered a timely reminder. It is a well-documented pattern: trying to avoid the worst days often means missing the best days. Acting on impulse might mean missing the recovery that follows.

Economic Activity Remains Solid Despite Weak Sentiment. Economic data continues to highlight a widening gap between how people feel and how the economy is performing. Measures of real activity, such as retail sales and industrial production, indicate the economy ended 2025 with solid momentum.

Markets navigated a complex environment throughout 2025 it what ended to be a tale of two halves. After a trepid first half to the year markets climbed higher.

Over the past several months, we’ve explored the transformative potential of artificial intelligence from multiple angles. First, we laid the groundwork by describing what AI is and how it may be poised to reshape the way we work and live. We then turned our focus to where AI is already showing up in markets and portfolios, highlighting key inputs in the buildout and the best ways for investors to gain exposure to this emerging investment theme.