2025 Q4 Review and Outlook – Stocks Follow Profits

The market capped a strong year with a positive fourth quarter as stocks (as measured by the S&P 500 SPDR ETF – SPY) rose 2.7%. The U.S. bond market (as measured by the US Aggregate Bond ETF – AGG) gained 0.9%, and a 60% stock/40% bond portfolio earned a 2.0% total return. For the full…