Major indices are continuing to rally higher and posting solid gains this afternoon.

The only sector in the red is the “safe haven” sector of Consumer Staples (XLP). Meanwhile, Materials (XLB) are in the lead, benefiting from a rise in metal commodity prices. Financials (XLF) are the runner up and getting a boost from private equity names.

There is relative strength in Energy (XLE) today, as investors go bargain hunting, after recent weakness in the sector, and oil rises on Venezuela tensions.

Many space stocks are among the leading and continuing to rocket higher, after Trump’s executive order last week. Furthermore, quantum names are also rallying, after D-Wave's (QBTS) announcement of its upcoming presentation at CES 2026, which will highlight quantum-AI-blockchain synergies and quantum commercialization. The presentation is expected on January 7^th.

This morning, Fed Miran emphasized the need for further rate cuts from the Fed. Furthermore, he noted that potential tax refunds next year could provide stimulus for the economy.

White House officials are indicating that Trump and Hegseth will make shipbuilding announcements this afternoon. These are expected to advance Trump’s Golden Fleet initiative for the navy.