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.
- The Nasdaq eked out a 0.03% dip, held back by megacap tech, even as the Dow and S&P 500 closed higher.
- 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.
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.
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.
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.
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.
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. Reuters
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.
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.
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.
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.
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.
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.
