This is the audio from January 2026’s Making Sense Market update. Each month, our team takes a deep dive into markets and the economy.

Link to access the video and charts: https://www.firstcitizens.com/wealth/market-outlook/2026/making-sense-january-market-update

In this month's market update, Chief Investment Officer, Brent Ciliano, and Senior Director of Market and Economic Research, Phillip Neuhart, discussed inflation trends, the slowing labor market, and a richly valued equity market.

Blake Taylor, Market and Economic Research Analyst, discusses what to watch this week.

Blake Taylor, Market and Economic Research Analyst, talks about the week ahead for markets and the economy.

Thomas O’Keefe, Managing Director of Investment Strategy and Partnership, and Phillip Neuhart, Senior Director of Market and Economic Research talked with Randall Huss, Senior Fixed Income Portfolio Manager at First Citizens Bank about the basics bond investing.

Blake Taylor, Market and Economic Research Analyst, covers items to watch in the week ahead. 1. Personal income & Spending. 2. Q4 earnings season

Blake Taylor, Market and Economic Research Analyst, covers items to watch in the week ahead.

Thomas O’Keefe, Managing Director of Investment Strategy and

We often talk about earnings growth and margins as part of market

What to watch in the week ahead:

On December 17, 2025, Chief Investment Officer Brent Ciliano, Senior Director of Market and Economic Research Phillip Neuhart, and Market and Economic Research Analyst Blake Taylor delivered our 2026 Market Outlook.

After weathering a tumultuous start to the year, the US economy and financial markets are ending 2025 close to the consensus expectations from a year ago. Where do interest rates go from here? Will markets see more volatility next year? What are the headwinds and tailwinds for 2026 and beyond?

Learn more in the 2026 Market Outlook companion commentary: https://www.firstcitizens.com/content/dam/firstcitizens/pdfs/wealth/market-outlook/2025/2026-market-outlook.pdf