The Calendar Turns

The big things you need to know: First, after updating our models for end of year, we are reiterating our 7,750 12-month S&P 500 price target, noting that the signal from our sentiment model deteriorated since our last update in early December while the signal from our GDP model strengthened. Second, a few things that jumped out in our other updates included the recent divergence in the size and style trades, the S&P 500’s inability to recapture last summer’s peak on the rate of upward EPS estimate revisions, and the latest results of the Duke CFO survey where optimism picked up on one’s own company and the broader economy, accompanied by an optimistic view on the productivity benefits coming from AI.

You can listen to The Calendar Turns online on Radio and Podcast. Open the player on this page to stream the available audio.

The Calendar Turns is an episode from RBC's Markets in Motion by RBC Capital Markets.

This episode is 06:22 long.

This episode was published on Jan 5, 2026.

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