December 4, 2025 – Simeon Wallis, Chief Investment Officer and Partner at Aprio, joined New York Stock Exchange TV Live to break down the key forces shaping the markets as the year draws to a close.
He highlighted the central role of AI‑driven capital spending, particularly from the major hyperscalers, as a crucial driver of market momentum, noting that continued investment should help maintain market strength, while any slowdown could raise concerns about future growth. Simeon also pointed to the December 10th Federal Reserve rate decision as a major focal point, saying markets are closely watching both the expected quarter‑point cut and the Fed’s (Federal Reserve System) tone on inflation and employment.
Looking ahead to 2026, Simeon shared his outlook that the Fed is likely to move gradually, with two rate cuts: one in the first quarter and another in the second. He described a constructive environment for mid‑cap and small‑cap companies as earnings strengthen and rates ease, with a weaker dollar and fiscal stimulus adding further support. He noted that unique events in 2026, including the U.S. 250th anniversary and the World Cup, could provide meaningful economic tailwinds.
To watch the full interview, visit New York Stock Exchange on YouTube.