The stock market winners and losers of 2025
Chips, gold and guns have triumphed while ad companies and private equity struggled
Related reading
Business trends, wild cards and companies to watch in 2026
Where power, profits and pressure points are likely to lie across five key sectors
Who won big in the FT’s stockpicking competition?
Portfolios holding precious metals performed well in last year’s rollercoaster market
US stocks ride AI hype and trade truce to 6-month winning streak
S&P 500 and Nasdaq post longest runs of monthly gains in years
US stocks eclipsed by rest of world in 2025 as investors diversify
Chinese artificial intelligence advances and the effects of Trump’s trade war have boosted markets outside the US
Bullish investors pile into stocks as cash levels sink to record low
Fund managers most optimistic since 2021 despite worries over tech valuations, Bank of America survey shows
Stock trading surge helps Wall Street navigate dealmaking trough
Volatility is keeping market-making desks active at a time when mergers and issuance have slowed