NEW YORK, Jan 3, 2026, 12:42 ET — Market closed
- Tesla fell 2.6% on Friday after reporting a second straight annual drop in deliveries, while Nvidia rose 1.2% as chip stocks rallied. 1
- The Nasdaq eked out a 0.03% dip, held back by megacap tech, even as the Dow and S&P 500 closed higher. 2
- Traders are looking to next week’s U.S. labor-market data and the interest-rate outlook after a run of delayed releases following the government shutdown. 2
Big Tech stocks started 2026 on a split note on Friday, with Tesla’s drop after its delivery report offsetting strength in chipmakers led by Nvidia. 1
The mixed tape matters now because megacap tech has an outsized pull on the Nasdaq and S&P 500, and investors are using the year’s opening sessions to reset exposure after a volatile end to 2025. 2
It also comes with rates in focus. Treasury yields rose on the day, a headwind for high-valuation growth stocks because higher yields can make future profits worth less in today’s dollars. 2
The Dow ended up 0.66% and the S&P 500 gained 0.19%, while the Nasdaq slipped 0.03% for its first close of the year. 2
In Big Tech, Apple edged down 0.3%, Microsoft fell 2.2% and Amazon lost 1.9%, while Alphabet rose 0.7% and Nvidia added 1.2%, according to last close prices.
Joe Mazzola, head of trading & derivatives strategy at Charles Schwab, said investors “might be a little bit more conscious about some of the valuations” they are paying for AI-linked stocks. 3
The semiconductor group was a bright spot, with the Philadelphia SE Semiconductor index up 4% on Friday, a broad lift that helped offset weakness in some market heavyweights. 3
Tesla slid 2.6% after the company said 2025 deliveries fell 8.6% to 1.64 million vehicles, as it faced tougher competition and the expiration of U.S. federal EV tax credits. 1
Reuters reported Tesla delivered 418,227 vehicles in the fourth quarter, down 15.6% from a year earlier, while China’s BYD overtook Tesla on annual EV sales. 1
U.S. yields also stayed in view, with the benchmark 10-year Treasury yield at 4.191% in the session, a level traders often watch closely because Big Tech’s valuations can be sensitive to rate moves. 2
Before the next regular session, investors will be tracking next week’s labor-market data and other delayed indicators as releases normalize after the government shutdown, while policy headlines remain a potential source of volatility. 2
On the company calendar, Tesla is set to report quarterly results on Jan. 28, while traders also watch whether the Nasdaq can hold above the round-number 23,000 level after ending Friday at 23,235.63. 1
