Here’s what’s happening in the stock market today:
The stock market opened higher today, January 2, 2026, kicking off the new year with optimism driven by AI enthusiasm and positive futures after three straight years of double-digit gains in 2025. 📈🚀 The S&P 500 rose 0.76% to 6898 points, while Nasdaq led with nearly 1% gains amid a tech rally, though some intraday pullbacks occurred later. Global markets also trended up, with Asian indices like Korea's Kospi hitting records. 🌍
Major Indices Performance 📊
S&P 500 climbed 0.76% to 6898, building on its 16.6% 2025 gain.
Nasdaq Composite advanced about 1% early, fueled by semiconductors like Nvidia and Intel.
Dow Jones saw modest 0.36-0.43% upside in futures but slight intraday dip.
Market Movers 🚀
Axsome Therapeutics surged 22.75% to $182.64 on strong volume.
Semiconductor leaders Nvidia, Intel, and Micron rallied amid AI momentum.
Trump Media & Technology Group rose 5.33%; Nike gained over 4% on insider buying.
Losers included Corcept Therapeutics down 50.42% and NIO dropping 7.27%.
Key Events Driving the Market 🗞️
Investors eye upcoming bank earnings next week and jobs data that could influence Fed rate path amid Trump administration policy shifts. 🏦 President Trump plans to nominate a new Fed chair to replace Jerome Powell this month, adding uncertainty to rates expected to hold steady soon. Tariff clarity and AI growth sustainability remain top risks alongside persistent Fed divisions.
Investor Sentiment 👀
Sentiment leans bullish with risk appetite returning post-holidays, though traders watch economic data and policy risks closely. 🐂 Markets blend 2025 momentum optimism with caution on potential U.S. economic surprises and Fed transitions.
Wall Street Highlights:
News Beyond the Numbers
Saks Global is preparing to file for bankruptcy after missing a debt payment exceeding $100 million on bonds tied to its Neiman Marcus acquisition. Read more.
Warren Buffett stated in his final interview as CEO that Berkshire Hathaway has the best odds of any company lasting a century, as he hands over to Greg Abel. Read more.
Meta's Reels feature has reached a $50 billion annual revenue run rate, outpacing competitors like YouTube and TikTok through short-form video ads. Read more.
Tesla reported a larger-than-expected drop in Q4 deliveries amid declining EV demand following the end of tax subsidies, marking a second year of annual sales declines. Read more.
Bankers anticipate a surge in monster deals for 2026, including more spinoffs, crypto M&A, and greater private equity participation. Read more.
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