The S&P 493 has a lot of catching up to do, and 2026 could be key turning point.

This article will be updated throughout the day, so check back often for more daily updates. Today’s the day. For the past 48 hours or so, the Federal Open Market Committee has been meeting and debating whether to lower interest rates one final time this year.

Follow all the latest U.S. market action for Wednesday here to see if the Federal Reserve can ignite an end-of-year stock rally.

Wall Street forecasters expect the stock market to grind higher in 2026 as earnings grow, the Fed cuts rates, and the US avoids a recession.

The S&P 500 will have a so-so year. As of Dec. 8, the S&P 500 is up by about 16% for the year. This is certainly lower than the 26% and 25% gains we saw in 2023 and 2024, respectively, but is still better than the historical average.

Follow along for live updates on the Dow, S&P 500, Nasdaq and other markets.

Wall Street’s sentiment toward companies associated with artificial intelligence is shifting, and it’s all about two companies: OpenAI is down, and Alphabet Inc. is up.

Investors are rotating out of the technology behemoths that drove virtually all of this year’s 17% advance in the S&P 500 Index and snapping up shares of risky small companies and old-economy transportation names that have lagged behind all year.

Michael Burry predicted a Netscape-style fate for OpenAI. He also defended his bearish calls from critics in a weekend posting spree on X.