Week Ending December 19, 2025

WEEKLY TOUCHPOINT

A Christmas Message from Our Team to Yours

The Santa Claus Rally refers to the tendency for stocks to rise during the last 5 trading days of December and the first 2 days of January. This is often attributed to lighter trading volumes, holiday optimism, and year-end positioning.

But as the year winds down and Christmas settles in, we’re reminded that the most meaningful forms of wealth rarely show up scrolling tickers or on your  statement:

• Time together is still the most valuable currency we know—especially when it’s unhurried and shared with the people who matter most.
• Peace of mind is the quiet dividend of thoughtful planning, discipline, and alignment with what truly matters.
• Purpose gives direction to wealth, ensuring money serves life—not the other way around.
• Stewardship is our shared mission: caring wisely for what you’ve built so it can support the lives, values, and legacies you envision.

At Cestia, our wealth mission has always been about more than performance or projections. It’s about helping you engineer clarity, confidence, and comfort—so you can fully enjoy moments like these, today and for generations ahead.

From our family to yours, we wish you a Christmas filled with warmth, reflection, and gratitude. May the season bring rest to your mind, joy to your home, and renewed perspective for the year ahead.

Merry Christmas & Warmest Wishes!

 

Equities

• Markets moved sideways overall as investors balanced heavy economic data with lingering questions around AI valuations.
• Large- and mid-cap stocks finished roughly flat, while small-caps took a step back.
• Growth stocks continued to lead value year-to-date, extending a trend that’s quietly defined 2025 so far.
• Sector performance was split down the middle, with consumer discretionary leading and energy lagging on lower oil prices.
• Internationally, developed markets edged higher on improving European data, while emerging markets slipped under renewed pressure from China.

Bonds

• Fixed income provided a bit of ballast as Treasury yields moved lower across the curve.
• The yield curve steepened modestly, with short-term rates falling faster than long-term rates.
• Longer-duration government and investment-grade bonds outperformed as yields declined.
• High-yield bonds lagged as credit spreads widened slightly, reflecting a more cautious tone.
• Yields ended the week near 4.8% for investment-grade corporates and just above 7% for high yield—still attractive for income-focused investors.

Macroeconomic Data

• A backlog of delayed data painted a mixed economic picture following the government shutdown.
• Job growth resumed modestly, led almost entirely by healthcare and construction, while prior months were revised lower.
• The unemployment rate ticked up to 4.6%, signaling some cooling in the labor market.
• Core inflation surprised to the downside, with shelter inflation slowing to its lowest level since 2021.
• Retail sales were flat on the surface, but stronger “control group” data suggested the consumer is still spending beneath the headlines.

(as of Monday’s Market Opening)

	Total Return (1D)	Total Return (1W)	Total Return (MTD)	Total Return (QTD)	Total Return (YTD)
S&P 500	0.64%	1.15%	0.43%	2.84%	16.95%
Dow Jones Industrial Average	0.47%	0.52%	1.35%	4.23%	13.68%
NASDAQ	0.52%	1.37%	0.27%	3.39%	21.33%
NASDAQ 100	0.46%	1.31%	0.11%	3.17%	21.18%
Russell 1000	0.69%	0.95%	0.59%	3.05%	17.84%
Russell 2000	1.11%	0.99%	2.28%	5.15%	16.05%
Russell 3000	0.73%	0.98%	0.63%	3.07%	17.75%
ACWI	0.59%	0.84%	1.07%	3.43%	22.63%

 

Global Client Survey

We’re inviting you to take part in a quick, anonymous client survey. Your feedback helps us fine-tune our process, elevate your experience, and ensure we’re delivering what matters most to you. This isn’t just about checking a box—it’s about shaping the future of how we serve you. Your voice helps guide our next steps. We’re listening. We’re learning. And we’re grateful for your trust.

 

Take Our Survey Now (click here)

---

Disclosures

1. Wealth Mechanics™ is a registered trademark of Cestia Wealth Management. Unauthorized use of the trademark, including but not limited to commercial use, reproduction, or imitation without explicit written permission from Cestia Wealth Management, is strictly prohibited.
2. Market commentary provided by NewEdge Advisors
3. Charts concerning market data are provided by Exhibit A.
4. Guides and other downloadable firm material respective to financial planning processes and data are provided and powered by fpPathfinder.
5. Advisory services offered through NewEdge Advisors, LLC, a registered investment adviser. Securities offered through NewEdge Securities, LLC. Member FINRA/SIPC. NewEdge Advisors, LLC and NewEdge Securities, LLC are wholly owned subsidiaries of NewEdge Capital Group, LLC.
6. Cestia Wealth Management is not a legal tax professional. We offer tax gap analysis for clients who desire to have a comprehensive financial plan, which requires in-depth tax strategy and planning as a distinct part of the overall customized solution. Please consult your tax professional on all matters addressed in this report.
7. Information about annuities are not to be considered a recommendation. The information provided should not considered a recommendation to purchase or sell any particular security.
8. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results. Please note that individual situations can vary. Therefore, the information presented here should only be relied upon when coordinated with individual professional advice.