Tyler Long

Markets are starting the final full week of trading in 2025 with mixed sentiment but constructive breadth. Major U.S. stock futures are modestly higher this morning after last week’s rotation out of heavily weighted tech names and into broader market participation. Futures for the Dow, S&P 500 and Nasdaq are all in positive territory — a sign that market participants are positioning ahead of a packed economic calendar. Here are the key themes we are watching: 🔹 Sector Rotation & Leadership: The Dow and broader indexes are showing resilience while tech and AI-related stocks continue to face headwinds following recent earnings and sentiment disruptions. This dynamic is creating a classic rotation environment, where value and cyclicals are gaining relative strength. 🔹 Macro Data on the Horizon: This week brings a slate of important U.S. reports — including jobs, inflation, and retail sales — that could significantly influence market positioning and the rate outlook. These data points will be focal for risk assets and interest-rate forecasts. 🔹 Safe Havens & Commodities: Gold and silver are rallying with yields softer and the dollar subdued — a typical response in uncertain environments and a reminder that non-correlated assets can matter even in equity-friendly periods. 🔹 Global Sentiment: International markets are largely cautious, with Asian equities facing pressure following global sell-offs and mixed economic signals abroad, underscoring the interconnected risk environment.