NEW YORK, Jan 3, 2026, 15:00 ET — Market closed
- Uber shares closed up 1.4% on Friday, ending at $82.86.
- A report said Uber rewrote UK driver contracts outside London as new VAT rules took effect.
- Investors now look to U.S. data next week and Uber’s expected early-February earnings update.
Uber Technologies Inc shares closed up 1.4% on Friday at $82.86. The stock traded between $81.47 and $83.66, with about 13.1 million shares changing hands. 1
A report said Uber has revised driver contract terms outside London to limit the impact of Britain’s new “taxi tax” rules that took effect this week. The Guardian said the change recasts Uber as an agent rather than the supplier of transport services outside London, shifting any value-added tax (VAT) — a sales tax — onto drivers who contract directly with passengers. Uber’s UK general manager Andrew Brem called it “absurd” that “a trip in London will be taxed at a different rate than a trip anywhere else in the UK.” 2
Why it matters now: the UK is a large, tightly regulated market for ride-hailing, and changes in tax treatment can quickly feed into fares, driver earnings and ride demand. Uber is expected to report quarterly results on Feb. 4, offering investors the next read on how regulatory and pricing shifts are flowing through to margins. 3
Uber’s move came as U.S. stocks started 2026 with modest gains, led by chipmakers and industrial names. The Dow and S&P 500 ended higher on Friday, snapping a four-session losing streak.
Peers were mixed. Lyft Inc, Uber’s closest U.S. ride-hailing rival, ended Friday up about 2.2%, while DoorDash Inc slipped about 3.0%.
The UK tax issue revives a familiar pressure point for the sector: how quickly regulators and tax authorities can change the economics of platform work. Uber has battled over VAT treatment in Britain before, including a 2025 UK Supreme Court decision tied to how rival operators are treated outside London. 4
Macro also stayed in focus on Saturday after Philadelphia Fed President Anna Paulson said further U.S. rate cuts may take time as policymakers assess inflation and labor-market trends. Rate expectations matter for high-growth stocks, including consumer platforms, because they can influence valuations and risk appetite. 5
Before the next session
U.S. markets reopen on Monday, and traders will watch early-January data for clues on growth and consumer demand. The ISM manufacturing PMI for December is due Jan. 5, followed by the ISM services report on Jan. 7. 6
Inflation remains the other near-term swing factor for equities. The U.S. Bureau of Labor Statistics has scheduled the December 2025 CPI release for Jan. 13. 7
The Federal Reserve’s next policy meeting is set for Jan. 27–28, according to the central bank’s calendar. 8
For Uber, investors will likely key on commentary around pricing, demand trends in Mobility and Delivery, and how region-specific rule changes — including the UK VAT split between London and the rest of the country — may affect growth and profitability in 2026. Uber enters the week within a 52-week range of roughly $60.63 to $101.99, leaving the stock about 19% below its high as traders map near-term technical levels. 9
