The major averages closed out the first full week of the year year on a high note, with the S&P 500 closing at a record high. The Dow Jones Industrial Average rose 237 points or 0.48%. The S&P 500 rose 44 points or 0.65% while the Nasdaq rose 191 points or 0.82%.

The three major averages posted a winning week. The S&P 500 rose more than 1%. The Dow and Nasdaq rose 2.3% and 1.9%, respectively.

On the economic front, the December Employment Situation report showed slightly weaker-than-expected growth in payrolls, while the unemployment rate dipped to 4.4% from 4.5% and average hourly earnings growth accelerated to 3.8% from 3.6%. Interest rates inched lower as the report pushed back the market’s expectation of the next rate cut from April to June according to CME FedWatch Tool.

Nine S&P 500 sectors captured gains with the consumer discretionary sector up over a percent with homebuilder names like Lennar up 8% and D.R. Horton up 7.80% as President Trump ordered Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds, reinforcing expectations for increased mortgage-market support.

Tech rebounded today with Sandisk up 12% on news of sharply increasing enterprise SSD pricing in early 2026 as AI demand grows. Intel jumped 10% after President Trump touted a great meeting with CEO Lip-Bu Tan yesterday evening.

Not many stocks were lower today. Lululemon athletica fell 3.9% on disappointment that the US Supreme Court did not issue a decision on the legality of President Trump’s IEEPA tariffs today. GM and Ford were lower as well.

In the commodity space, oil was up over a 1% on protests in Iran and possible oil deals in Venezuela. Gold was up a percent while the crypto space was modestly lower.

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