Weekly Market Commentary: Stocks and Bonds Largely Unchanged in Busy Week

Sunflower Bank Weekly Market Commentary: December 22, 2025

Each week, our Wealth Management team analyzes the U.S. stock market and bond market activity and news of the previous week, summarizing their findings into a weekly market update report. The key points of this week's commentary, "Stocks and Bonds Largely Unchanged in Busy Week," include:

• Equity markets were largely unchanged during a busy week of economic data and earnings. The S&P 500 rose +0.1%, the Nasdaq 100 increased +0.6% and the MSCI ACWI was unchanged. Treasury yields were stable across the curve.
• Micron Technologies, a company that designs and manufactures memory chips, reported blockbuster results last week. Revenue and EPS for the company’s most recent quarter came in well above consensus expectations as companies continue to invest heavily in training AI models. Nike reported disappointing results as the company continues to struggle with changing consumer preferences and a dynamic macro environment.
• The BLS released nonfarm payrolls data for both October and November. Payrolls fell by -105,000 in October and rose by +64,000 in November. The October decline in payrolls is the largest since 2020. The report also included the November unemployment rate. The unemployment rate rose to 4.6%, higher than expected. The unemployment rate has now increased 0.5% since June.

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