Closing Bell: What 2026 Will Hold for Your Money 12/22/25

Closing Bell

CNBC

News, Business

4.8 • 118 Ratings

🗓️ 22 December 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

What could be in store for your money in the new year? We discuss with Fundstrat’s Tom Lee, Hightower’s Stephanie Link and CIBC Capital Markets’ Chris Harvey. Plus, Jeff DeGraaf from Renaissance Macro tells us which three sectors he is avoiding right now. And, Former Dallas Fed President Richard Fisher tells us what he thinks is next for rates.

Transcript

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0:00.0	All right, guys, thanks so much. Welcome to Closing Bell. I'm Scott Wobner, live from Post 9, here at the New York Stock Exchange. This make or break hour begins with another stellar year for stocks. The third in a row begging the question, can this bull market stay stronger again in 2026? We'll ask our experts over this final stretch. In the meantime, we'll show you the scorecard here with 60 to go in regulation. We're green across the board, as you see.
0:21.4	Pretty good day, led by the Russell 2000, financials, materials, industrials, among the best sectors today.
0:28.0	And how about some individual names?
0:29.5	Invidia, Tesla Micron, all having a pretty good one.
0:32.9	Citigroup is leading the banks higher.
0:35.1	Bitcoin's up, gold and silver hitting new record highs, so a lot of
0:38.3	positive stories as we begin this holiday shortened week, which leads us to our talk of the
0:43.9	tape. What 2026 will hold for your money? Let's ask our panel. Everyone here at Post 9 today,
0:49.7	FundStrat's Tom Lee, I Tower, Stephanie Lincoln, CIBC Capital Markets, Chris Harvey, Tom and Steph both CNBC
0:55.8	contributors. One and all. It's good to have you right in front of us on the desk today.
1:00.8	All right, Tom. So, 2023, we turned in 24%.
1:05.8	2024, we turned in 23%. Pretty good this year, too. 17%. Next year, we fill in the blank with what
1:13.6	sounds reasonable to you. I think it's still possible to have a double-digit year. There have
1:19.4	been 12 times in the last 100 years where markets posted three years of 20% gains. This year
1:25.1	hasn't finished yet. Globally, half of the time markets do even
1:30.3	better in the following year. So I think next year is a year where the debate's going to be,
1:36.3	is the bull cycle over or is it going to extend? I think it's going to create quite a lot of volatility
1:41.3	in the first half, but I think GDP growth stronger. We have a
1:44.9	devilish fed. Valuations are reasonable, so I think we end up exiting very strong.
1:49.6	Why a lot of volatility in the first half then? Part of it is the Trump tariffs could get overturned.
1:57.9	There is a possibility of an extended government shutdown. The nomination and then
2:03.6	confirmation of a new Fed chair is going to take three months. That could be very controversial.
	...

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