Inside the ICE House

Michael Reinking breaks down a volatile week marked by tariff headlines, rising global yields, and a sharp tech‑led selloff that quickly reversed. Early weakness gave way to a rebound as shifting rhetoric on Greenland and tariffs helped small and mid caps hit new highs. Macro uncertainty persisted with delayed Supreme Court action, ongoing Fed Chair speculation, and surging natural gas prices. Earnings season remained mixed as margin concerns surfaced while crypto news took center stage with BitGo’s NYSE debut. With earnings, the FOMC decision, and geopolitical risks ahead, markets enter next week with a packed agenda.

Bryon Lake, Chief Transformation Officer at Goldman Sachs Asset Management, joins Bilal Little to discuss how ETFs are reshaping the future of investing. Drawing on nearly two decades in the ETF industry, Lake explains why the ETF wrapper has become the preferred technology for delivering active strategies at scale. He highlights Goldman’s growth in active ETFs, the rise of defined-outcome strategies, and the firm’s agreement to acquire Innovator to expand those capabilities. Lake also explores how digital tools, democratization, and access to alternatives are changing the investor experience

Phil Rosen joins Inside the ICE House to unpack why booming GDP is colliding with weaker job growth. He explains how AI-driven productivity lets companies boost earnings without expanding headcount. Rosen also discusses how boomer wealth and strong markets continue powering consumer spending. He shares why big banks remain well‑positioned as AI and tokenization transform finance. Looking ahead, he expects rate cuts, a Bitcoin rebound, and improving job prospects for young workers.

Orla Mining is building a modern gold company through disciplined growth and responsible operations. CEO Jason Simpson goes Inside the ICE House to discuss Orla’s evolution, the strategy behind its diversified portfolio, and the drivers of its strong long-term returns. He also shares how sustainability, AI, and rising global demand for critical minerals are shaping the company’s path toward its next phase of growth.

Eric Criscuolo, NYSE Market Strategist, breaks down a week defined by Supreme Court uncertainty, shifting sector leadership, and the kickoff of earnings season. Cyclicals led the tape as tech lagged early, helping small and mid caps outperform while financials slid on policy pressure and mixed bank results. Geopolitical tension boosted oil and precious metals, though easing headlines cooled crude by week’s end. Tech regained momentum Thursday on strong semiconductor earnings and major AI platform news. With a heavier earnings slate, key inflation data, and global events ahead, markets head into next week with a full macro calendar.

Chris Edmonds, President of Fixed Income and Data Services at ICE, joins Kevin McPartland of Coalition Greenwich to explore the future of market structure and data innovation. From prediction markets and sentiment analytics to the evolving role of ETFs in fixed income, Edmonds shares how technology and transparency are reshaping trading. He dives into ICE’s advances in mortgage data, climate risk integration, and the modernization of CDS clearing. Plus, a look ahead at regulatory-driven changes in Treasury and repo markets and what they mean for liquidity and efficiency.

Chipotle is celebrating a major milestone—4,000 restaurants strong—while charting its course for global growth. CEO Scott Boatwright goes Inside the ICE House to reflect on the brand’s evolution and the strategies that keep customers craving more. He explains how Chipotle balances scale with flavor, adapts to shifting consumer expectations, and leverages technology to enhance the dining experience.

Michael Reinking, NYSE Senior Market Strategist, kicks off 2026 with a look back and ahead. After a volatile Q1, the S&P 500 closed 2025 up 16.4%, marking a third straight year of double-digit gains driven by AI. Fed easing and rotation into small and midcaps shaped Q4, raising questions about whether broadening continues. Geopolitical headlines, including U.S. action in Venezuela, barely rattled markets as oil held steady. With indices near record highs and key data and earnings season ahead, investors enter the new year with cautious optimism.

Armando Pantoja, financial futurist and self-made millionaire, joins Bilal Little to discuss the technologies shaping the future of wealth. He shares how early work in computer science, crypto, and AI led to building and selling an AI-powered platform in 2017. Pantoja breaks down major long-term themes including AI, nuclear energy, quantum computing, and crypto, and why energy sits at the center of the next market cycle. He explains how ETFs can help investors access these emerging trends with diversification and risk management

Blackstone is marking 40 years of growth while positioning itself for the next era of global investing. President and COO Jon Gray goes Inside the ICE House to reflect on the firm’s evolution, his 33-year journey, and the culture that has scaled alongside the business. He explains how Blackstone identifies long-term investment tailwinds, from digital infrastructure to global real estate, while cutting through market noise with data and discipline. Gray also outlines how AI, energy infrastructure, and broader access to alternative investments are shaping Blackstone’s strategy for the years ahead.