Dec 12, 2025

Email 1 Summary:

Tom Lee of Fundstrat forecasts a 10% gain in the S&P 500 by the end of 2026, predicting the index will reach 7,700. Despite investor skepticism from three years of large gains, history shows a 12% average gain in the following year. Lee highlights risks like AI valuation adjustments, a new Fed chair, social unrest, and potential U.S. tariff decisions, but points to a dovish Fed as a positive factor. Key growth sectors include technology (AI, bitcoin, Ethereum), energy infrastructure, blockchain tokenization, and on-shoring. Fundstrat favors technology, basic materials, energy, and financials while lowering its outlook on consumer discretionary. Lee also expects 2026 to break the four-year down cycle for bitcoin.

Email 2 Summary:

The Axios Pro Rata newsletter covers several key points: Paramount and Netflix continue their bids for Warner Bros. Discovery, with Comcast out and Trump weighing in on CNN’s involvement; a new consumer tech-focused venture fund, Tactile Ventures, launched targeting $100 million; Raleigh-based medical imaging company Lumexa raised $463 million in its IPO driven by AI efficiency improvements; multiple startup funding rounds across AI, biotech, and fintech sectors; and several private equity acquisitions and liquidity events including major deals by Blackstone and General Atlantic. Disney has agreed to invest $1 billion in OpenAI as part of a content partnership.

Email 3 Summary:

Bloomberg’s Money Stuff explains how stock prices reflect a range of possibilities and implied probabilities but do not provide precise predictions of outcomes, using the Warner Bros. Discovery acquisition battle as an example. While the stock price implies expectations of a deal closure and possible higher bids, prediction markets like Polymarket give cleaner odds on who will win, currently around 42-51% between Paramount and Netflix, though these markets are small. The newsletter also touches on the reputational risks of financial firms in dealing with contentious clients like Jeffrey Epstein, ongoing regulatory findings of “debanking” practices by major banks, the German pension fund losses tied to dentists’ investments, and a rare fistfight between Chinese regulators and e-commerce company employees. It closes with updates on key market happenings and cultural notes.

Email 4 Summary:

Axios is hosting Axios House at the World Economic Forum in Davos from January 19-22, 2026. This fourth consecutive year event gathers influential leaders from business, tech, and climate sectors for networking and discussions on the global economy and future trends. Last year’s event featured top speakers like OpenAI’s chief product officer, LinkedIn’s CEO, and executives from Coca-Cola and DoorDash. Over 1700 guests attended for exclusive receptions and engaging conversations. Readers are invited to get on the list for this year’s Axios House and access past coverage.

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