Investors hoping for traditional holiday cheer for the US stock market are encountering turbulence that ‌could keep markets on edge into year-end.Despite stock indexes remaining on track for solid performance in ‌2025, the benchmark S&P 500 has ‍edged lower so far in December, bucking historical trends that have shown it to be a strong month on average.Two themes have ⁠sparked swings in US equities in recent weeks: Scrutiny ⁠on massive corporate spending for the artificial intelligence buildout, and shifting expectations about further interest rate cuts by ‍the Federal Reserve in 2026. This week, questions about a data-centre project from Oracle weighed on tech and other AI-related stocks, while tame inflation data on Thursday gave stocks a lift. "This week's economic data solidifies expectations that the Fed will have a rate-cutting bias," said Angelo Kourkafas, senior global investment strategist at Edward Jones.While investors in the coming days may look to lock in profits after a solid year, causing some selling pressure, the latest data "likely provide a green light for the Santa Claus rally to take ‌place this year," Kourkafas said.Since 1950, the "Santa Claus rally" has seen the S&P 500 rise an average 1.3% over the last five trading days of the year and the first two in January, according to the Stock Trader's Almanac. ‍This year, that period starts Wednesday ⁠and runs through January 5.Investors this week digested a heavy batch of data that had been delayed due to the 43-day federal government shutdown. Employment data showed job growth rebounded in November but the unemployment rate stood at 4.6%, its highest level in over four years.Another delayed report on Thursday showed the US consumer price index increased less than expected in the year to November. Optimism from the cooling inflation data may be tempered by distortions, including data collection being delayed late into November, when retailers offered holiday season discounts.The Fed has cut interest rates at three consecutive meetings, leaving investors now to parse data for insight into when the central bank might be able to ease again in 2026."Going into next week... there's going to be a big question around what ​is the path ahead for the Fed," ‌given the shutdown-related data distortions, said Trevor Slaven, global head of asset allocation and multi-asset portfolio solutions at Barings."There's this unsettled argument between the direction of travel ⁠for these major central banks, the direction ‍of travel for inflation at a time when it does look like there's (more) softness" in the labour market data, Slaven said.Economic reports in the coming week include third-quarter gross domestic product, durable goods orders and consumer confidence.Focus during the holiday-shortened trading week also will likely remain on the AI trade that has helped lift stocks this year. The S&P 500 is up more than 15% so far 2025, on track for its third consecutive year ​of gains of at least 10%.More recently, however, AI-related worries - including when massive infrastructure spending will generate returns - have dented the high-flying tech sector, which carries by far the largest weighting in major indexes such as the S&P 500. "You're starting to just see this scepticism around the AI spend becoming more prominent," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. For the tech and tech-related stocks, "obviously their disproportionate representation in the cap-weighted index at large is helping to put some pressure on the tape."Other sectors that had lagged this year have helped pick up the slack. Those include economically sensitive areas such as transportation, financial and ⁠small-cap groups, which are all higher so far in December."We've seen money move away from tech," Kourkafas said. "Other areas have stepped up and have helped keep markets mostly range-bound."

The US-Qatar Business Council–Doha (USQBC Doha) and the AI Trust Foundation (AITF) jointly led a high-level US delegation to Doha during World Summit AI (WSAI) MENA 2025, reinforcing a shared commitment to responsible artificial intelligence and cross-border innovation between the US and Qatar. The mission reflects and advances the commitments established under the April 2025 Memorandum of Understanding (MoU) between USQBC Doha and AITF, led by USQBC Doha managing director Sheikha Mayes al-Thani. The 15-member delegation comprised founders and executives from small and medium-sized companies working across AI applications, infrastructure, governance, and cybersecurity. The delegation was co-led by Sheikha Mayes, AITF vice-chair Leah Perry, and AITF board member Justin Floyd, who is also CEO and co-founder of RedCloud Technologies. In addition to attending WSAI MENA 2025, the delegation participated in strategic engagements across Qatar to explore collaboration opportunities in policy, investment, business development, and talent — reflecting strong interest in deploying trustworthy AI solutions in the region. The visit opened with a welcome reception hosted by USQBC Doha and AITF, with RedCloud Technologies and GemSoft serving as strategic sponsors. The reception convened leaders from the US and Qatari AI ecosystems and focused on responsible AI adoption, data integrity, and emerging investment pathways. The mission aligned with Qatar’s national innovation agenda under the Third National Development Strategy (NDS3) and reinforced the US vision for global leadership in AI. **media[394655]**Sheikha Mayes said, “This delegation reflects the growing depth and maturity of the US-Qatar relationship in advanced technologies. Through USQBC Doha, we are enabling responsible AI collaboration that is commercially viable, policy-informed, and aligned with national priorities. Qatar’s readiness across infrastructure, strategy, and investment makes it a compelling partner for US innovators seeking to scale trusted solutions globally.” Michael Jordan, CEO at Gem Soft, added: “Gem Soft is proud to have co-sponsored this important delegation, which showcased Qatar’s readiness to lead in secure, trusted AI and digital innovation aligned with Qatar National Vision 2030. This visit laid the groundwork for concrete partnerships that will translate emerging technologies into real economic impact for both countries.” During the visit, the delegation engaged senior stakeholders shaping Qatar’s innovation landscape. These included a private luncheon with the Minister of State for Foreign Trade Affairs His Excellency Dr Ahmad bin Mohammed al-Sayed at the Ministry of Commerce and Industry (MoCI), and an exclusive US-Qatar AI Exchange hosted by YPO Qatar, in collaboration with USQBC Doha and AITF. Additional engagements included discussions with Eman al-Kuwari, director of Innovation Strategy and head of Emerging Technologies at the Ministry of Communications and Information Technology (MCIT); and Ahmad el-Dandachi, general manager of Microsoft Qatar; as well as other public- and private-sector leaders. Discussions focused on policy alignment, capacity-building, investment pathways, and scalable AI deployment. Perry said, “This delegation moved the April 2025 MoU from intent to action. By convening government leaders, global technology stakeholders, and founders building real-world AI solutions, we’re establishing practical pathways for trusted AI—grounded in strong governance, privacy, and measurable outcomes.” Delegation members also contributed as speakers and panellists at WSAI MENA 2025, including Perry; Lisa Rice, CEO of the National Fair Housing Alliance; Rami Darawsheh, CEO of Olea Health; and Floyd. The delegation’s initiatives culminated with RedCloud signing a major joint venture to deploy its RedAI platform in Turkiye’s fast-moving consumer goods (FMCG) market—an agreement valued at a minimum of $5mn annually over 10 years. The JV aims to address FMCG supply chain inefficiencies using AI-enabled intelligence and automation, with operations targeted to begin in Q1 2026. “After an impactful week in Qatar, it was exciting to take action by signing RedCloud's second joint venture. Turkiye’s $166bn FMCG sector faces a $22bn inventory gap that AI can solve. We’re creating smart infrastructure to transform trade across the country and the Mena region, demonstrating how ethical AI can be deployed to address major industry and societal challenges for the good of all,” said Floyd. The mission was organised under the 2025 MoU between USQBC Doha and AITF, which advances collaboration on responsible AI governance, investment, and talent between the US and Qatar. USQBC Doha and AITF noted that the Doha delegation precedes a broader set of planned initiatives, with additional programming and cross-border engagements to follow.