NEW YORK, January 2, 2026, 13:33 ET — Regular session
- U.S. stocks were mixed in early afternoon, with chip gains offset by Tesla and Amazon declines.
- Nvidia and Taiwan Semi climbed as chip demand headlines kept the sector in focus; Micron jumped about 9%.
- Traders are watching the Jan. 9 jobs report and Jan. 13 CPI and bank earnings for clues on 2026 rate cuts.
Wall Street’s main indexes were mixed in early afternoon on Friday as the first trading day of 2026 opened without a clear risk-on push, despite a sharp rebound in chip shares.
The muted start matters because stocks enter the new year near record highs after a strong 2025, leaving little room for disappointment on growth, earnings and interest rates. Investors are looking for an early read on whether last year’s leadership can extend into January.
A crowded January calendar could set the tone quickly, with fresh labor-market and inflation data and the start of fourth-quarter earnings season. Investors are also awaiting a U.S. Supreme Court decision on President Donald Trump’s tariffs and his choice of a new Federal Reserve chair, Reuters reported.
The Dow Jones Industrial Average was up 49.71 points, or 0.1%, at 48,113, while the S&P 500 slipped 0.04% and the Nasdaq Composite fell 0.13%, according to Reuters. The S&P 500 and Nasdaq were also at risk of extending their run of daily losses, undercutting hopes for a “Santa Claus rally,” a seasonal tendency for stocks to rise in late December and early January. Reuters
Semiconductors led the gainers, with Nvidia up 1.7% and Micron jumping about 9% in afternoon trading. Taiwan Semiconductor’s U.S.-listed shares rose about 5%.
The sector has stayed in focus since Reuters reported on Dec. 31 that Nvidia approached TSMC to ramp up production of its H200 artificial-intelligence chips to meet Chinese demand. Reuters said Chinese firms had ordered more than 2 million H200 chips for 2026 while Nvidia held about 700,000 units in inventory.
Industrials helped keep the Dow afloat, with Boeing up about 3.5% and Caterpillar up about 4.1%. Consumer-focused names weighed, with Amazon down about 2.1%.
Furniture-related retailers rallied after Trump signed a proclamation to delay tariff increases on upholstered furniture, kitchen cabinets and vanities for another year, the White House said. Wayfair climbed about 5.8% and RH rose about 9.6%.
Tesla slid about 2.4% after reporting a second consecutive annual decline in deliveries and ceding the title of top global EV seller to China’s BYD, Reuters reported. Tesla said it delivered 1.64 million vehicles in 2025 versus 1.79 million in 2024, and it is set to report quarterly results on Jan. 28.
Outside equities, traders tracked higher Treasury yields and a rebound in precious metals, as markets positioned for a return of key U.S. data after a government shutdown disrupted releases. The 10-year yield was around 4.18% and spot gold rose about 0.5% to $4,336 an ounce, Reuters reported.
Investors see monetary policy as the main swing factor for 2026. “The next Fed Chair is probably going to be much more dovish than Jerome Powell,” said Dennis Dick, chief market strategist at Stock Trader Network, using a term for policymakers more inclined to cut rates. Reuters
Next week’s U.S. jobs report on Jan. 9 is expected to show payrolls rose 55,000 in December and the unemployment rate held at 4.6%, a Reuters poll found. The consumer price index is due Jan. 13, the same day JPMorgan is set to report results, with analysts expecting S&P 500 earnings to rise 15.5% in 2026, according to LSEG IBES data cited by Reuters.
For now, the market remains range-bound: Reuters noted the S&P 500 is near record highs but roughly around late-October levels. Traders will watch whether stocks can break decisively higher — or whether data and earnings force a reset in early-year risk appetite.
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