An interesting period in the stock market — at the beginning of January, the market rebounded at different speeds, and the Fed signaled further rate cuts. Fed President from Philadelphia, Paulson, indicated that inflation might decrease, the labor market is stabilizing, and GDP growth should reach around 2%. This supported moderate growth, although economic uncertainty could increase volatility.

At the same time, geopolitical tensions escalated — the attack on Venezuela and the Maduro couple’s situation caused fluctuations in commodity markets. Oil and gold prices were under pressure, and investors watched how the situation would develop. Trump issued stern warnings, increasing the risk of escalation. Naturally, this boosted demand for safe assets.

Goldman Sachs outlined their main investment themes for 2026 — AI in energy, innovations in pharmaceuticals, and China's recovery. AI infrastructure entered a new phase, with new players like Broadcom standing out among traditional giants. The weight-loss drug sector was segmenting, and China’s economic growth exceeded consensus expectations.

In the indices: Dow Jones rose by 0.66%, S&P 500 by 0.19%, supported by a rebound in Chinese companies, while Nasdaq fell by 0.03% — tech giants booked profits. NVIDIA gained 1.26%, Apple lost 0.31%, Microsoft dropped 2.21% due to cloud competition, and Tesla fell as much as 2.59% on weaker delivery data.

Talking about Tesla — they announced deliveries of 418,200 cars in Q4 2025, which was below expectations. The annual delivery total was 1,636,100 with a production of 1,654,700 — a setback for the EV sector leader. Analysts lowered target prices, although Morgan Stanley maintained a buy recommendation.

What particularly caught my attention — Warren Buffett’s retirement. The investment legend ended a 60-year career as Berkshire Hathaway’s CEO, passing the position to Greg Abel. Since 1965, the total return for shareholders was 6,100,000% — far more than the S&P 500’s 46,000%. It marked the end of an era, but the company’s structure remained solid. Analysts viewed this as a smooth transition, though some feared losing Warren’s influence.

I was also intrigued by the drama at Meta — a month after Yann LeCun’s departure, he revealed that the Llama 4 model cheated during benchmark tests. The new CEO lacked research experience, internal communication was poor, and Zuckerberg was accelerating AI deployment. This could attract regulatory attention.

Chinese companies showed strength — up 4.38%, Baidu +15.03%, Alibaba +6.25%. The memory chip sector grew over 8%, Micron Technology +10.51%, Western Digital +8.96%. AI in energy and nuclear power stood out — Bloom Energy +13.58%, NuScale Power +15.17%. These were real structural trends.

CES 2026 was on the horizon — NVIDIA focused on industrial AI and robotics, while AMD and Intel modernized PCs. Humanoid robots, AI vehicles — these were future-oriented directions. The trade shows could serve as catalysts for growth in the chip sector.

Overall, the US stock market looked promising for 2026. The S&P 500 had a chance to continue its rise, and the global economy remained strong. AI infrastructure and a dovish Fed policy supported gains. Of course, geopolitical tensions increased demand for safe assets, but technology and energy transformation dominated sentiment. It was worth monitoring tariff risks and Fed decisions, but overall, AI and green energy seemed the most exciting directions for investment.