Falcon’s View – Week ending 5 december 2025

Performance

• S&P 500: 0,3%

• Nasdaq 100: 1,01%

• My portfolio: 0,16 %

Market pulse

U.S. equities extended their advance in the first week of December, but the path was choppy: stocks dipped Monday as a global bond selloff–sparked in part by hawkish BOJ signals–pushed Treasury yields higher and briefly tightened financial conditions. The week then pivoted back to the dominant narrative: the market continued to price a high likelihood of a December Fed cut, with delayed and substitute economic data (ADP’s surprise job decline, steady ISM services activity, and Friday’s PCE inflation/spending release) broadly consistent with a cooling economy rather than a collapse. That macro backdrop supported breadth, with small caps and other rate-sensitive pockets staying bid, while leadership inside growth rotated on company-specific catalysts– delivery outlook boosted industrials, Microsoft headlines briefly weighed on mega-cap tech, and AI-linked names drew fresh interest. By Friday, sentiment improved on stable inflation data, a strong media M&A headline (Netflix/WBD), and a consumer picture that remains resilient enough to keep the “hard landing” crowd waiting in the lobby.

Crowd vs. price
The market’s choppiness has led to a mixed picture in the relative interest in the stocks on my list, some declined in relative interest while others saw an increase.


Holdings & Watchlist Notes