economy
January 2, 2026
'Queen City' Charlotte was the king of the stock market in 2025
Lithium and steel outshined A.I. in 2025, at least when it comes to CNBC's exclusive Power City Indexes.
TL;DR
- Charlotte, North Carolina, had the best-performing Power City Index (PCI) in 2025 with a median return exceeding 22%.
- Silicon Valley came in second with a median return of over 21%, despite the hype around AI.
- Washington D.C.'s PCI ranked third with a median return of approximately 17%, boosted by defense contractors.
- The worst-performing PCI was Dallas, Texas, with a median return of negative 10%.
- The Power City Indexes are built from the 11 or 12 largest market cap companies in 36 U.S. city and metro areas, with equally weighted stocks tracked on FactSet.
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