"With market-moving data on the way this morning in the form of the December non-farm payrolls report, and a slew of economic reports plus the start of fourth-quarter earnings next week, as large-cap money center banks report, the next move for the market could be data-dependent. After getting blasted on Wednesday, the Dow Jones Industrials returned to the winners' circle, gaining 0.55% to finish the session at 49,266, while the S&P 500 closed the day at 6,921, up 0.53%."
"Yields were higher across the Treasury curve as sellers were active in almost all maturities, except for short T-bills, which saw some buying. Wall Street analysts pointed to the potential for an expansion of the nation's debt as President Trump seeks $1.5 trillion for the 2027 military budget. This increases trader and investor concerns over the already high national debt. In addition, markets were skeptical that the proposed tariffs could fully fund the additional spending, which led to selling pressure on Treasuries."
"The Nasdaq fell 0.44% to close at 23,480, as both NVIDIA Corp. ( NASDAQ: NVDA) and the tech-heavy Invesco QQQ Trust ( NASDAQ: QQQ) finished the day lower. Profit-taking and worries about lofty valuations in the AI/Data center trade are weighing on investors. The big winner once again was the Russell 2000 ( Exchange: RUT), as the rotation to small and mid-cap stocks continues to gain steam; the index closed up 1.11% at 2,603."
Futures traded modestly higher as the first complete trading week of 2026 neared its close, with December non-farm payrolls and a slate of economic data set to influence the market. Large-cap indexes rebounded, with the Dow up 0.55% at 49,266 and the S&P 500 up 0.53% at 6,921, while the Nasdaq fell 0.44% to 23,480 amid weakness in NVIDIA and QQQ. Profit-taking and concerns over high AI/data-center valuations pressured tech names. The Russell 2000 rose 1.11% to 2,603 on a small- and mid-cap rotation. Treasury yields climbed across the curve as sellers dominated, aside from short T-bills, driven by concerns about rising national debt tied to a proposed $1.5 trillion 2027 military budget and doubts that tariffs would fully fund the spending; the 30-year closed at 4.84% and the 10-year at 4.17%. Oil and gas prices moved higher following a larger-than-expected U.S. crude inventory draw.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]