It was another good session yesterday, but still indecisive, as has been the case when the S&P 500 (SPX) is in the shadow of its all-time high. Communication Services (XLC) is back on top. There was also a fair amount of bottom fishing.

The third-quarter of 2025 (3Q25) Gross Domestic Product (GDP) was revised slightly higher, and in the fourth-quarter of 2025 (4Q25) GDP is currently at 5.3%.

The Street expects the GDP to come in well below 5.3%, but the Street has been wrong. Bottom line is there was no recession last year, and 2026 is poised for strong sequential growth.

Meanwhile, inflation is coming down, even if it's doing so more slowly in official government data, but the spike the experts promised hasn’t materialized.

After the close, Intel (INTC) laid an egg. It's odd because the consensus for the last quarter wasn’t as high as the stock price. Guidance for the current quarter missed across the board - consensus: revenue $12.56 billion, gross margin 36.5%, and earnings per share $0.08.

Today’s Session

The market opened lower as investors digest earnings.

Interestingly, China has reportedly cleared Alibaba (BABA), Tencent, and ByteDance to start prepping Nvidia (NVDA) H-200 purchase requests.