Market Summary - January 02, 2026

On the first trading day of 2026, U.S. stocks showed signs of recovery after a four-day losing streak, although there was a pullback in the last half hour of trading. The S&P 500 index experienced fluctuations, initially rising but ultimately closing down slightly. The market had been closed the previous day for New Year’s Day.

Market Indices Performance

• DJ Industrials: -125.80 points (-0.26%) at 47,38
• S&P 500: +1.11 points (+0.01%) at 6,846
• Nasdaq: +41.88 points (+0.18%) at 23,284
• Russell 2000: +9.50 points (+0.38%) at 2,491

Sector Highlights

The Technology sector led the market, with notable early gains from major companies such as NVIDIA (NVDA), Google (GOOGL), and Apple (AAPL). The sector initially rose by 1.6% but later moderated to a 0.5% increase. Semiconductor stocks surged, with the SOX index rising over 4%. However, the software sector faced declines.

Economic Indicators

The 10-year Treasury yield increased to 4.17%, while oil prices dipped below $57 per barrel. Bitcoin showed signs of recovery, trading around $89,500 after a significant drop in 2025. The S&P Global December final manufacturing PMI was reported at 51.8, slightly above the expected 51.7.

Stock Movements

Gainers

• Baidu (BIDU): +12% after its AI chip unit filed for a Hong Kong stock exchange listing.
• Iridium Communications (IREN): +4% as data center stocks gained traction.
• Ironwood Pharmaceuticals (IRWD): +44% after raising its revenue forecast for 2026.
• RH: +5% following tariff delays on furniture.
• Southern California Gas (SOC): +18% after receiving a permit to restart its pipeline.
• Vertex Pharmaceuticals (VRT): +7% after an upgrade from Barclays.

Losers

• Las Vegas Sands (LVS): -1% despite a year-over-year revenue increase in Macau.
• ServiceNow (NOW): -4% as software stocks faced pressure.
• Outlook Therapeutics (OTLK): -61% after the FDA declined to approve its drug application.

Conclusion

Overall, the market opened the new year with a mix of optimism and caution, as investors reacted to both macroeconomic indicators and corporate news. The technology sector remained a focal point, while some stocks faced significant volatility.