NEW YORK, Jan 10, 2026, 12:22 EST — Market closed
- World shares closed the week at record highs, boosted by chip stocks and a weaker-than-expected U.S. jobs report
- The dollar climbed, while two-year Treasury yields rose amid steady rate-cut expectations
- Tuesday kicks off with the U.S. CPI release, followed by the start of major bank earnings next week
Global stock markets wrapped the week on a high note Friday, with U.S. and European indexes hitting record closes. The MSCI world index also notched a fresh intraday peak, climbing 0.53% to 1,034.87.
Rates and currencies shifted alongside stocks. The dollar index climbed 0.26% to 99.13. The U.S. two-year yield, a close Fed barometer, ticked up to 3.538%, while the 10-year slipped to 4.171%.
Here’s the scene heading into Monday’s reopen: stocks seem to expect a smooth ride, but the schedule suggests otherwise. Inflation figures and the quarter’s first major earnings reports are looming fast, while geopolitical tensions haven’t faded.
Some strategists suggest the market is behaving as if headlines don’t matter. “It just seems a little too quiet,” said Michael Arone from State Street Investment Management. Matthew Miskin at Manulife John Hancock described it as “a bit numb,” noting the VIX, Wall Street’s gauge for expected volatility, remains unusually low. Reuters
Friday’s December jobs report landed softer than expected but didn’t spook the market. Employers added 50,000 jobs, short of the 60,000 forecast, while the unemployment rate slipped to 4.4%. Traders held steady on their bets for rate cuts.
Chipmakers carried the day. The Philadelphia SE Semiconductor index surged 2.7% to hit a new high. Intel climbed nearly 11% after President Donald Trump described a “great meeting” with CEO Lip-Bu Tan, while Broadcom gained 3.8%. Reuters
Some stocks showed sharp moves on deal news. Vistra jumped 10.5% after Meta Platforms struck a deal to buy power from its nuclear plants. GM dropped, though, after announcing a $6 billion charge tied to unwinding certain EV investments.
Europe’s STOXX 600 hit a new high, boosted by Glencore surging 10% after Rio Tinto confirmed early talks on a potential takeover. ING’s James Knightley pointed out that falling unemployment combined with a probable “hot” inflation reading next week might rule out Fed moves “before March.” Reuters
Records don’t always hold. A stronger CPI number might push markets to dial back the number of Fed cuts priced in for 2026. Early bank earnings will also offer a gauge on whether credit stress is making a comeback after months of patchy signals.
Traders are zeroing in on the S&P 500 approaching the 7,000 mark, a key round number that tends to draw in momentum buyers as well as prompt some quick profit-taking.
Tuesday brings the next big event: December’s U.S. Consumer Price Index, due at 8:30 a.m. ET. After that, the first major bank earnings reports roll in. Then, on Wednesday, the U.S. Supreme Court is set to release opinions on Trump’s tariffs.
