US close: Dow and S&P 500 set new records, Nasdaq hits two-month high

9th Jan 2026 19:11

(Sharecast News) - US stocks pushed higher on Friday with the Dow and S&P 500 both setting new records and the Nasdaq closing in its own all-time high despite a mixed bag of economic data, which included weaker-than-expected non-farm payrolls.

The Dow finished up 0.5% at 49,504.07 while the S&P 500 rose 0.7% to 6,966.28, with both indices edging past earlier peaks set on Tuesday. The Nasdaq, meanwhile, gained 1.0% to settle at 23,702.88, its highest since 3 November.

Data released before the opening bell showed that US jobs growth slowed more than expected in December. While the unemployment rate fell more than predicted, wage inflation also picked up more than analysts' forecasts.

"The US labour market report for December was both dovish and hawkish," said Kathleen Brooks, research director at XTB.

Non-farm payrolls rose by 50,000 last month, the Bureau of Labor Statistics reported, coming in less than the 60,000 additions expected by analysts. December's figures were lower than a 56,000 gain in November, which was revised down from the initial estimate of 64,000.

December's data - the first 'clean' jobs report unaffected by October's record government shutdown - also revealed that the unemployment rate reduced to 4.4% in December, down from a four-year high of 4.6% the month before, while the annual increase in average hourly earnings jumped to 3.8% from 3.6%.

"There is now only a 5% chance of a Fed rate cut on 28th January, down from an 11% chance of a cut before the NFP reading," Brooks said. "Overall, the market still expects two cuts this year, but the drop in the unemployment rate and the pick-up in wage growth could cause the hawks to take back some control at the Fed after three rate cuts at the back end of 2025."

In other macro news, the University of Michigan's consumer sentiment index rose to a four-month high of 54.0 in January, up from 52.9 in December and ahead of the 53.5 consensus estimate. Meanwhile, the Census Bureau reported that US housing starts dropped 4.6% to 1.246m in October, the lowest since mid-2020 and under the 1.246m forecast, while building permits slipped 0.2% to 1.412m.

In other developments, Donald Trump claimed to have cancelled a second wave of attacks on Venezuela, in return for Caracas continuing to cooperate with Washington. Trump is due to meet with oil company executives later, and said that a social media post that "at least 100 Billion Dollars will be invested by BIG OIL" in the South American nation.

Meanwhile, investors were nervously awaiting a Supreme Court ruling on the legality of Trump's trade tariffs, though no official timeline has been given. A decision could have been announced as soon as Friday, but reports suggest it could still take weeks for the court to decide.

Meta unveils nuclear-power plans

Facebook owner Meta Platforms was in focus after announcing new agreements with three companies to back the next generation of American nuclear power plants, which it claims will help "power our AI future".

Meta announced new partnerships with nuclear power developers Oklo and TerraPower to support new nuclear reactors and the development of nuclear technologies. The firm is also providing financial support through a deal with Vistra to extend the lifespan and energy production at two plants across Ohio and one in Pennsylvania.

Meta was trading 1% higher, while shares in Vistra and Oklo surged 10% and 8% respectively.

Southwest Airlines was flying 4% higher after JPMorgan double-upgraded its rating on the stock from 'underweight' to 'overweight', lifting its price target from $36 to $60.

Defence stocks were continuing to rise after Trump called for a military budget of $1.5trn from next year, around three times the current amount, with peers Lockheed Martin and Northrop Grumman both on the up.

Dow Jones - Risers

Home Depot Inc. (HD) $372.83 4.19%

Boeing Co. (BA) $234.40 3.14%

Chevron Corp. (CVX) $162.48 1.80%

Coca-Cola Co. (KO) $70.40 1.64%

Dow Chemical Co. (DOW) $26.33 1.58%

Caterpillar Inc. (CAT) $617.81 1.56%

Walt Disney Co. (DIS) $114.93 1.50%

Nike Inc. (NKE) $65.64 1.01%

International Business Machines Corporation (CDI) (IBM) $304.18 0.50%

Goldman Sachs Group Inc. (GS) $938.40 0.44%

Dow Jones - Fallers

American Express Co. (AXP) $375.64 -1.92%

Amgen Inc. (AMGN) $326.10 -1.21%

Unitedhealth Group Inc. (UNH) $345.53 -0.83%

Travelers Company Inc. (TRV) $282.16 -0.78%

Visa Inc. (V) $350.17 -0.70%

Johnson & Johnson (JNJ) $205.00 -0.66%

McDonald's Corp. (MCD) $306.74 -0.51%

Merck & Co. Inc. (MRK) $111.05 -0.41%

Verizon Communications Inc. (VZ) $40.68 -0.27%

Salesforce.Com Inc. (CRM) $259.75 -0.23%

S&P 500 - Risers

Lennar Corp. Class A (LEN) $118.38 8.85%

D. R. Horton Inc. (DHI) $156.13 7.80%

PulteGroup Inc. (PHM) $132.22 7.34%

Weyerhaeuser Co. (WY) $25.66 7.25%

KLA-Tencor Corp. (KLAC) $1,400.00 5.69%

Micron Technology Inc. (MU) $345.09 5.53%

Northrop Grumman Corp. (NOC) $616.63 4.74%

Lockheed Martin Corp. (LMT) $545.15 4.72%

Oracle Corp. (ORCL) $200.02 4.68%

Martin Marietta Mtrl (MLM) $661.27 4.48%

S&P 500 - Fallers

Under Armour Inc. Class A (UAA) $5.64 -6.00%

Under Armour, Inc. (UA) $5.45 -5.86%

Kohls Corp. (KSS) $20.63 -5.61%

Nektar Therapeutics (NKTR) $39.71 -4.17%

Equity Residential (EQR) $60.38 -3.87%

Illumina Inc. (ILMN) $141.07 -3.26%

CenturyLink Inc. (LUMN) $8.04 -3.18%

American International Group Inc. (AIG) $75.10 -3.17%

Valero Energy Corp. (VLO) $185.54 -3.16%

Mattel Inc. (MAT) $21.48 -3.07%

Nasdaq 100 - Risers

Asml Holdings N.V. (ASML) $1,273.88 6.66%

KLA-Tencor Corp. (KLAC) $1,400.00 5.69%

Micron Technology Inc. (MU) $345.09 5.53%

Broadcom Inc. (AVGO) $344.97 3.76%

Cadence Design Systems Inc. (CDNS) $327.31 2.67%

O'Reilly Automotive Inc. (ORLY) $93.80 2.37%

Microchip Technology Inc. (MCHP) $75.22 2.30%

Tesla Inc (TSLA) $445.01 2.11%

Synopsys Inc. (SNPS) $525.18 2.08%

Mondelez International Inc. (MDLZ) $55.09 2.04%

Nasdaq 100 - Fallers

Illumina Inc. (ILMN) $141.07 -3.26%

Biomarin Pharmaceutical Inc. (BMRN) $58.95 -2.32%

Vodafone Group Plc ADS (VOD) $13.50 -2.32%

QUALCOMM Inc. (QCOM) $177.78 -2.25%

Liberty Global plc Series C (LBTYK) $10.48 -1.96%

Henry Schein Inc. (HSIC) $77.64 -1.72%

Liberty Global plc Series A (LBTYA) $10.60 -1.72%

Expedia Group Inc. (EXPE) $296.18 -1.70%

Adobe Systems Inc. (ADBE) $333.95 -1.50%

Workday, Inc. (WDAY) $207.18 -1.24%