Stock Indexes Ride Momentum Despite Political RiskE-mini S&P 500 Futures (Dec 2025)CME_MINI:ESZ2025LegendSinceSeptember was a month of resilience for U.S. equities. Despite fears of a government shutdown, mixed economic data, and cautious signals from the Fed, the S&P 500, Nasdaq, and Dow Jones managed to hold their ground. Early in the month, strong corporate earnings and cooling inflation data fuelled optimism, sending tech stocks higher as investors bet on a soft landing. But that momentum was repeatedly tested — hawkish Fed remarks and political gridlock triggered waves of volatility, trimming gains into month’s end. By the final week, investors had shifted focus from fear to fundamentals: easing inflation, steady consumer spending, and falling yields offered just enough support to keep the rally alive. It wasn’t a runaway month, but the message was clear — Wall Street is learning to thrive in uncertainty.