It feels like those lazy summer days, when all the wealthy folks from Wall Street have camped out in the Hamptons or somewhere even more glamorous. It's tricky to decipher a valid message beyond ‘let’s rest up’ for January 5, 2026. The market will close near the all-time high, as the ball drops tonight.

No Fear, No Greed?

It's kind of cool that the so-called Fear & Greed Index is closing out right smack dab in the middle. A week ago, it was in the “greed” zone; a month ago, in the “extreme fear” zone.

There is a vast gulf between names down only fractionally from 52-week highs, and those down a country mile (Oracle Corp (ORCL), UnitedHealth Group (UNH)). It will be interesting to see which fetches the most action going into 2026.

Happy New Year

It's been an honor and a privilege to help so many investors.

We pledge to continue the commitment and work.

Thank You

Charles V. Payne

Today’s Session

There has been a never-ending avalanche of news from Nvidia (NVDA), focused on dominating for years to come, while the financial media and shorts scream about AI bubbles.

The latest news is the demand for the company’s H200 chip. If reports are correct, this not only supports the thesis that spending in the AI race isn’t stalling anytime soon, but also that China has no comparable chips (this is an older chip and far below the computational capacity of chips in the company’s queue).

By the way, one of the big stories next year will be inflation coming in below consensus.

It would be nice to end 2025 with a bang, but remember this is a long journey, so avoid measuring your success against the calendar. That’s a Wall Street marketing construct.

There will be no afternoon note today, and as a reminder, the market will be closed tomorrow for New Year's.