Week Ending January 23, 2026

WEEKLY TOUCHPOINT

The Big Picture: Innovation Is Accelerating—Fast

Each year, ARK Invest publishes its Big Ideas research to identify the long-term technologies reshaping the global economy. Their 2026 edition carries a clear message: we are entering a period of rapid acceleration, not gradual change.

According to the report, a handful of breakthrough technologies—led by artificial intelligence—are no longer developing in isolation. Instead, they are converging, reinforcing one another, and moving from experimentation into real-world scale. That convergence is beginning to influence productivity, capital investment, and competitive advantage across nearly every industry.

At the center of this shift is AI, which ARK describes as the “central dynamo” powering progress across five major innovation platforms:

• artificial intelligence,
• robotics,
• public blockchains,
• energy storage and distributed energy, and
• advanced biology

The takeaway for investors isn’t about predicting the next headline or chasing the newest trend. It’s about understanding where long-term growth is being built—often quietly, years before it becomes obvious in markets or the economy.

As ARK puts it, the future rarely arrives all at once. But those who recognize its direction early are better positioned to navigate change thoughtfully and intentionally.

Download Ark’s Big Ideas for 2026

Tax-efficient inter-generational wealth transfer

There are 2 primary methods of transferring wealth, either gifting during lifetime or leaving an inheritance at death.

Individuals may transfer up to $15 million (as of 2026) during their lifetime or at death without incurring any federal gift or estate taxes. This is referred to as your lifetime exemption. In addition, individuals may gift up to $19,000 annually to any individual without incurring any federal gift tax liability or using the lifetime exemption. This annual gift exclusion must be used within the year and does not carry over or accumulate. For example, if you gifted your child $20,000 in 2026, the first $19,000 would be applied to your annual exclusion and the remaining $1,000 would use up part of your lifetime exemption amount.

Gifts made during your lifetime in excess of the annual exclusion reduce the amount that can be excluded from the value of your estate at death. For example, if you gave $3 million in gifts during your life on top of any annual exclusion gifts you may have made, you would only be able to exclude $12 million from the value of your taxable estate at death in 2026. Any amount of assets above that number would be subject to a 40% federal estate tax, unless transferred to a spouse or charity. Transfers to spouses in life or at death are subject to an unlimited marital deduction and assets transferred to a qualified charity are subtracted from the value of the estate when calculating the estate tax liability. In other words, the value of assets transferred to a spouse or a charity do not count against the lifetime exemption.

Download the full article from Fidelity Investments

SOURCE: Fidelity

 

Equities

• U.S. stocks finished lower during the holiday-shortened week, though markets clawed back much of the early losses by Friday.
• Volatility spiked midweek after renewed tariff rhetoric from President Trump, triggering the S&P 500’s largest single-day decline since October.
• With only a small portion of companies reporting so far, expectations for Q4 2025 earnings growth held steady at 8.2%, but forecasts for 2026 were trimmed, tempering investor enthusiasm.
• Value stocks edged out growth, even as financials lagged, while energy and materials led the market.
• International stocks quietly outperformed U.S. equities, with both developed and emerging markets posting gains.

Bonds

• Bond markets delivered modest gains amid a choppy backdrop, as Treasury yields remained largely stable.
• The 2-year Treasury ticked up slightly, while the 10-year yield was unchanged, keeping the yield curve moderately steep.
• Longer-duration, investment-grade bonds continued to shine, benefiting from steady yields.
• High-yield bonds lagged as credit spreads widened modestly, though spreads remain historically tight.
• Corporate bond yields ended the week at attractive levels, reinforcing income’s role as a portfolio stabilizer.

Macroeconomic Data

• Labor markets remain resilient: jobless claims edged higher, but continuing claims fell near last year’s lows.
• Inflation continues to cool, with headline and core PCE running near 2.8% year over year, still above—but moving toward—the Fed’s target.
• Economic growth surprised to the upside, with Q3 GDP revised higher to a strong 4.4%, driven by consumers, exports, and government spending.
• Manufacturing showed renewed momentum as durable goods orders jumped sharply in November.
• Taken together, the data points to an economy that is cooling in inflation but still firm in growth—a constructive backdrop for long-term investors.

 

(as of Monday’s Market Opening)

	Total Return (1D)	Total Return (1W)	Total Return (MTD)	Total Return (QTD)	Total Return (YTD)
S&P 500	0.69%	0.33%	1.72%	1.72%	1.72%
Dow Jones Industrial Average	0.57%	0.04%	2.73%	2.73%	2.73%
NASDAQ	0.60%	0.54%	1.73%	1.73%	1.73%
NASDAQ 100	0.70%	1.00%	2.11%	2.11%	2.11%
Russell 1000	0.54%	0.19%	1.80%	1.80%	1.80%
Russell 2000	0.25%	-0.10%	7.85%	7.85%	7.85%
Russell 3000	0.52%	0.19%	2.04%	2.04%	2.04%
ACWI	0.58%	0.69%	3.19%	3.19%	3.19%

 

Global Client Survey

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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.