Dow, S&P 500, Rise; Nasdaq Slides; Silver Price; Nvidia, Tesla, Micron, Intel, Palantir, Super Micro Computer, NIO, XPeng, and More Movers
The start of the new year brought mixed results for the stock market.
The Dow Jones Industrial Average rose 317 points, or 0.7%. The S&P 500 closed up 0.2%. The Nasdaq Composite closed down slightly.
The Dow and S&P both snapped their four-day losing streaks, but the Nasdaq couldn’t seal the deal. It finished just below breakeven to bring its own skid to five days. The tech-heavy index last fell five days in a row in early 2025.
Stock market breadth was solid on Friday. Energy, industrials, materials, and utilities all shined. Consumer discretionary, communication services, and consumer staples were the laggards.
Tech featured strong gains from chip stocks, but software stocks struggled to start the new year.
“For Software, we’ve yet to see a single data point causing the move,” writes Jeffrey Favuzza, vice president of equities trading at Jefferies.
He writes that it could be a case of liquidity being sucked out of software stocks and into stocks linked to the artificial intelligence trade ahead of the CES trade show, which kicks off next week.
