NEW YORK, Jan 11, 2026, 12:13 (EST) — Market closed.
- Global shares closed Friday at record highs, powered by gains on Wall Street and in Europe.
- This week, investors brace for a quick reset as U.S. CPI inflation figures drop and major banks report earnings.
- Tariff risk remains on the table with a U.S. Supreme Court opinion set for Jan. 14.
Global stock markets start the week at record levels following new highs on Wall Street and in Europe last Friday, though the calm appears precarious.
Early U.S. inflation figures and the initial major wave of bank earnings hit the tape, directly impacting rate expectations and stock prices.
On Friday, the S&P 500 climbed 0.65% to 6,966.28. The Dow added 0.48%, while the Nasdaq rose 0.82%. MSCI’s global stock index gained 0.53%, closing at 1,034.87. This came after U.S. payrolls increased by just 50,000 in December, with the unemployment rate dipping to 4.4%. “Payrolls were a little bit light relative to consensus, but still fairly strong numbers,” noted Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder. Source
Chip stocks led the charge in the U.S. session once again, with Intel climbing roughly 11% after President Donald Trump announced a meeting with CEO Lip-Bu Tan. Broadcom also gained nearly 4%. The Philadelphia SE Semiconductor index rallied 2.7%, hitting a new high. Vistra jumped following Meta’s deal to buy power from its nuclear plants. “Investors are getting granular and picking the winners and losers,” said Zachary Hill, head of portfolio management at Horizon Investments. Source
Europe wrapped up at a record high as the STOXX 600 climbed about 1%, fueled by a 10% surge in Glencore following Rio Tinto’s confirmation of early talks on a potential deal. Tech shares notched their best week in nearly two years, buoyed by strong TSMC results and positive broker calls. ING’s James Knightley cautioned that a likely “hot” inflation print next week could push the Fed to hold off on action until March. Source
Fund flows painted a calmer picture on risk appetite: global equity funds recorded a $6.07 billion net outflow for the week ending Jan. 7. Meanwhile, money market funds attracted $161.27 billion, LSEG Lipper data showed. “Quality bonds should continue to play an important role as a source of yield and diversification,” said Mark Haefele, chief investment officer at UBS Global Wealth Management. Source
Bulls face a timing crunch Tuesday, when two market-shaping events collide: the U.S. Consumer Price Index (CPI) and major bank earnings reports. LSEG IBES forecasts a roughly 13% rise in S&P 500 earnings for 2025 and over 15% for 2026. Yet, Michael Arone of State Street finds the calm “a little too quiet,” while Nanette Abuhoff Jacobson at Hartford Funds flagged that “all the inflation numbers are going to be critical” for Fed moves. Natixis’s Jack Janasiewicz is zeroing in on banks for signs of consumer strain, since “they’re on the front lines.” Meanwhile, Matthew Miskin from Manulife John Hancock labels the market as “priced near perfection.” Source
Trade policy remains the biggest unknown. The U.S. Supreme Court is set to release new decisions on Jan. 14, including a high-profile case challenging the legality of Trump’s broad global tariffs. Lower courts ruled he overstepped his authority.
Investors have been factoring in a tougher geopolitical backdrop, from Venezuela to renewed chatter about territorial ambitions, yet they’ve largely continued buying stocks. That kind of resilience can backfire—it keeps downturns mild until suddenly it doesn’t, especially when bets are heavily skewed one way.
Markets kick off Monday with U.S. stocks and European shares perched at record highs. The real challenge arrives Tuesday, Jan. 13, when CPI data and JPMorgan’s earnings hit. Then on Jan. 14, the Supreme Court’s opinion day could stir tariff-related swings.
