If 2025 was a year of disruption, the next looks more like a year of reckoning.

Following the U.S. military operation in Venezuela over the weekend, discussion of the country’s energy resources has taken center stage. Venezuela accounts for roughly 0.1% of global GDP and approximately 1% of world oil supply. Despite holding significant reserves of oil, natural gas, and other commodities, years of mismanagement have severely degraded production capacity. A meaningful recovery would require sustained investment and structural reform, making any near-term impact on the global economy negligible as any meaningful increase in production would likely take several years.

A what-to-know guide for advisors and investors.

Investors are focused on geopolitical tensions, changes at the Fed, and the AI theme.

Eric Stein and Erin Orekhov discuss the weekend's developments involving Venezuela and what they might mean for investors.

The start of a new year is a natural time to reassess your DC plan’s effectiveness. But rather than chasing the latest trends, the most impactful improvements often come from building on what already works.

Artificial intelligence (AI) is driving a surge in infrastructure spending. Today’s hyperscalers are racing to build data centers and compute capacity, pushing capital expenditures (capex) sharply higher to unsustainable levels. While the market has rewarded these capex leaders, history suggests that as capital cycles mature and spending stabilizes, market leadership often shifts.

Highlights from the week of December 12 –December 18, 2025.

Billions of dollars are pouring into artificial intelligence as companies jockey for dominance.

AI, the labor market, and inflation dominated headlines as U.S. equities were mixed and corporate bonds rose.