Kim Kahn

Three years into the boom, the only ones making money are Nvidia and AI consultants.

Big tech eventually gets its digital god, but even the sum of all human knowledge, aka stuff that people wrote on Reddit between 2017 and 2019,

Can't figure out how to make a return on a $400 billion annual project depreciated over two years.

The digital god's ultimate solution?

Turn everyone into paperclips.

Which, they added, for certain economists, fighting an endless battle against people who are wrong on the internet is a relief.

Wall Street Lunch is taking some time off and will be back in a week.

In the meantime, be sure to sign up for Steve Kress's Top Stock Picks for 2026.

That'll be held on January 6th, and I'll put the sign-up link in show notes.

Hello, today is Sunday, December 21st, and I'm your host, Kim Kahn.

It's the most wonderful time of the year for stock market bulls.

Here comes Santa Claus right down Maiden Lane, then left on NASA, heading straight for Wall and Broad.

The Santa Claus rally, the last five trading days of December and the first two of January, is set to kick off on Wednesday, with markets closing early for Christmas Eve and shut on Thursday for Christmas.

Historically, the S&P 500 has been higher 77% of the time during the Santa rally, according to Subutrade.

They note that the last two years were negative, but there's never been a third straight down Santa rally time.

Alexander Giuliano, CIO at Resident Wealth Partners, says despite choppy trading over the past six weeks, the backdrop remains strong and the recent valuation pullback is creating opportunities for underinvested bulls.

So far in December, the S&P is slightly lower, the NASDAQ is down about 0.25%, and the Dow is up 1%.

For the year, the S&P is up 16%, the NASDAQ 21%, and the Dow 13%.

The earnings calendar is light, but traders won't be bored.

The key data point is the Q3 GDP report on Tuesday.