Why ‘affordability’ became the defining market word of 2025

Here’s the summary content:

Welcome to Stocks and Translation, Yahoo Finance’s video podcast that cuts through the market mayhem, the noisy numbers, and the hyperbole to give you the information you need to make the right trade for your portfolio. I’m Jared Blickery, your host, and Yahoo Finance’s head of news is with me, Miles Ud, who’s here to cut through the news fire hose and focus on what really moves your money. Today we’re going to be focusing on some of the top 2025 themes and memes that have led the year as well as a little 2026 look ahead. Our word of the day, affordability. It’s Investopedia’s top search term of the year and ever important because when affordability is tight, people change behavior and fast. And on today’s market show and tell, we are digging into Yahoo Finance’s 11th annual company of the year, Open AI. Investors are salivating over a potential trillion dollar IPO. We do a deep dive into the AI poster child. And this episode is brought to you by the number 202 billion. That is the dollar amount of tariffs collected by Uncle Sam this fiscal year. Political forces will shape finances in 2026. I mean, a broadening of the rally, everything’s going to be all about earnings, double digit growth once again, yada yada, a move away from the AI trade.

You know, it’s been a pretty good year despite all the noise. It’s been a pretty good three years since this bull market started running in November of 2022.

Here’s a breakdown of the key themes and memes that have led the year:

• Open AI: The company struck mega deals with Microsoft, AMD, Oracle, and Nvidia. It amassed $1.4 trillion in committed spending over the next eight years. It pushed ambitions to build its own data centers and hardware products and it converted to a for-profit company with a potential for a trillion dollar IPO. This is a huge deal for the tech industry.

• Affordability: It’s the gap between prices and paychecks and everything from housing, groceries, insurance, car payments, mortgages, and so on. It’s the one thing that people are looking up. It’s the investment public is looking for.

• The AI Trade: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of Value Stocks: The value-based ETFs are hitting record highs, and small caps and micro caps are becoming more popular as rates come down. People are looking for opportunities to buy dips in some of the biggest AI related stocks.

• The Tokenization Trend: There’s a real itch that people are trying to scratch because there’s a lot of interest among these companies to get involved in it.

• The AI Trend: AI is rewriting how companies spend, build, and compete. It’s also the first time in a while we’ve seen a lot of people looking at the AI trade.

• The Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Retail Crowd: The retailization of stocks is coming, and it’s becoming more popular as rates come down. People are looking for opportunities to buy dips in some of the biggest AI related stocks.

• The AI Trend: AI is rewriting how companies spend, build, and compete. It’s also the first time in a while we’ve seen a lot of people looking at the AI trade.

• The Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of the year, even if it’s looking at you straight in the face, but the consensus view from Wall Street is that this is what 2026 was going to look like.

• The Rise of the Metaverse: The market never correctly anticipates some of the biggest market stories of