Bank rally, TikTok deal inked, Nike stumble, AI moves beyond Big Tech

US index futures were steady Friday after a quiet week of delayed data and selective earnings reactions. Investors head into the final full trading week of 2025 watching for a soft-landing read on 2026 growth, Fed rate-cut timing, and whether breadth can keep expanding beyond mega-cap tech. Big banks led 2025’s surprise winners: the KBW Bank Index rose about 28%, powered by strong trading and dealmaking, a less restrictive regulatory backdrop, and a yield-curve un-inversion that supports net interest income. The debate now shifts to 2026: can loan growth reaccelerate, and does a pickup in regional-bank M&A reward stock pickers over index exposure? AI also broadened into “picks-and-shovels.” The playbook focuses on data-center construction, cooling, grid and nuclear-linked utilities, plus defense and late-stage biotech as potential 2026 tailwinds tied to spending and M&A cycles. Trending tickers: Oracle (ORCL) jumped on a signed TikTok US joint-venture deal, Nike (NKE) slid on weak guidance, FedEx (FDX) rose after topping estimates and lifting its profit-floor outlook. Takeaways: Banks outperformed in 2025; 2026 hinges on lending and deal flow. Deregulation expectations stay a key financials catalyst. AI leadership may rotate toward infrastructure and power. Nike’s reset highlights uneven consumer and China demand. FedEx cost actions show up in guidance, not just headlines. Yahoo Finance's flagship show, Morning Brief, is your go-to source for smarter investing and market moves. Thoughts? Questions? Fan mail? Email us at [e-mail]. Learn more about your ad choices. Visit megaphone.fm/adchoices