Skip to contentHome page Seeking Alpha - Power to InvestorsDec. 27, 2025 10:21 PM ETSPDR® S&P 500® ETF (SPY), SPX, SP500, IVV, VOO, QQQ, IWM, DIA, NDX, DJIErik Conley12.8K FollowersCommentsS&P 500 achieved two new highs last week, extending the bull run to a potential seven-month streak and an 87.5% gain since October 2022.Non-U.S. markets outperformed U.S. equities, with investors rotating from small caps and domestic stocks into large caps and foreign equities.Precious metals, especially silver, led asset class returns, while Bitcoin and Consumer Staples lagged; Materials outperformed among equity sectors.Momentum favored mega-cap growth, notably Nvidia, while Tesla and Bitcoin saw notable declines; AI-driven names remain central to market leadership.SlavkoSereda/iStock via Getty ImagesLast week we got two new market highs and 3 up days out of 4. Not bad for a holiday week. The usual suspects led the way higher (Mag 7, Large Caps, Growth) but there were some interesting crosscurrents going onThis article was written byErik Conley12.8K FollowersFor 28 years, I was a professional trader, analyst & portfolio manager. I ran the equity trading desk at Northern Trust Co. in Chicago. Now I am a private investor, the founder of a nonprofit investor advocacy firm, and a private investing coach. My average annual return is 17.2%. The time period is from January 2009, when I first began publishing my stock picks, to the end of 2024. I publish my picks in newsletter format and send them directly to subscribers on a weekly basis. For my complete market outlook and model portfolio updates, visit zeninvestor.org.Analyst’s Disclosure:I/we have a beneficial long position in the shares of NVDA, AVGO, GOOGL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.CommentsTo ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.Is this happening to you frequently? Please report it on our feedback forum.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.