NEW YORK, Jan 3, 2026, 3:19 PM ET — Market closed
- Shopify’s U.S.-listed shares fell 2.34% on Friday, the first trading session of 2026.
- A Canadian appeals court ordered Shopify to retain certain merchant data sought by the Canada Revenue Agency.
- Investors head into Monday watching U.S. yields and a busy U.S. jobs-data week.
Shopify Inc. shares closed down 2.34% at $157.20 on Friday, the first U.S. session of 2026. U.S. markets are shut on Saturday. Shopify Investors
The move matters because Shopify sits in the high-growth corner of the market, where valuations are sensitive to interest rates. Treasury yields ticked higher on Friday as investors looked ahead to a heavy run of U.S. labor data next week. Reuters
Shopify also faced fresh scrutiny in Canada after a Federal Court of Appeal order tied to a dispute with the Canada Revenue Agency (CRA). The court ordered the company to retain data at the center of the case. CityNews Calgary
The Minister of National Revenue sought the retention order, arguing Shopify has a policy of deleting information from inactive accounts after two years, while the CRA has been seeking six years of merchant data since 2023, the report said. A lower-court ruling last June declined to force Shopify to hand over the records, and the CRA has appealed. CityNews Calgary
On Wall Street, the S&P 500 and Dow ended higher while the Nasdaq was little changed, as losses in consumer discretionary names including Amazon weighed on the tech-heavy index. The 10-year U.S. Treasury yield rose to 4.191%, Reuters reported. Reuters
Commerce-related stocks were mixed: Amazon closed down 1.88% and Wix.com fell 2.78%, while Etsy rose 3.36%.
Joe Mazzola, head of trading and derivatives strategy at Charles Schwab, said investors were becoming more selective: “Investors might be a little bit more conscious about some of the valuations that they’re paying for some of the AI plays.” Reuters
Treasury yields are the interest rates investors demand to hold U.S. government debt. When yields rise, high-growth stocks can come under pressure because future earnings are discounted more heavily and financing costs across the economy tend to move higher.
Shopify, which sells tools that let merchants run online stores, payments and other commerce services, last reported results on Nov. 4. At the time, it forecast holiday-quarter revenue growth in the mid-to-high twenties percentage range, Reuters reported. Reuters
With the next earnings report expected in February on several market calendars, investors will be looking for updates on gross merchandise volume (GMV) — the total value of goods sold through Shopify’s platform — and whether expense growth stays in check after a year of heavy investment in new features. Reuters
Before Monday’s open, traders will be watching for U.S. data that can move rate expectations, including the JOLTS job openings report on Jan. 7 and the Employment Situation report on Jan. 9, according to the U.S. Bureau of Labor Statistics schedule. Bureau of Labor Statistics
Market attention is also likely to stay on yields and Federal Reserve policy expectations after Friday’s higher-rate backdrop, with investors scanning next week’s releases for signs of cooling or renewed inflation pressure. Reuters
On the technical picture, Shopify ended Friday about 13.7% below its 52-week high of $182.19 and about 125% above its 52-week low of $69.84. The stock is also below its 50-day moving average of $161.30, according to Yahoo Finance data. Yahoo Finance
In the next session, traders will watch whether SHOP can reclaim the low-$160s area or drifts back toward Friday’s intraday low near $155, as headlines on rates and the Canadian tax dispute shape risk appetite in growth stocks. Shopify Investors
