Opening Comment — Friday, January 02, 2026
DJIA: 48,063.29, down 303.77
S&P 500: 6,845.50, down 50.74
NASDAQ: 23,241.99, down 177.09
Stocks higher to start off the year
Stock futures are higher Friday morning as investors are awaiting the finalized December manufacturing purchasing managers’ index (PMI) from S&P Global. As of 7:18 AM ET, the Dow is rising 0.4%, while the S&P 500 is up 0.5%. The Nasdaq 100 is increasing 0.9% relative to fair value on the GLOBEX.
U.S. equities were lower on Wednesday as both initial and continuing jobless claims declined. The Dow was down 0.6%, while the tech-heavy Nasdaq Composite fell 0.8%. The S&P 500 decreased 0.7% with all 11 sectors finishing in negative territory. The Communication Services sector was the top performer, falling just 0.4%, while the Real Estate sector was the bottom performer, falling 1.0%.
Technical Analysis
None at this time
On the data front, the finalized reading of S&P Global’s manufacturing PMI for December is expected to come in at 51.8, similar to the prior month’s reading.
Across the pond, European stocks are higher in mid-day trading as the finalized December manufacturing PMIs for Germany, the eurozone, and the U.K. declined slightly to 47.0, 48.8 and 50.6, respectively, while the reading for France increased slightly to 50.7. Meanwhile, the U.K.’s Nationwide House Price Index for December unexpectedly declined 0.4% month-over-month and increased by 0.6% year-over-year (YOY). The eurozone’s M3 (a broad measure of the money supply) for November expanded by 3.0% YOY, outpacing projections.
Overnight in Asia, stocks were mixed as South Korea’s trade surplus widened more than expected in December, as both imports and exports rose more sharply than anticipated. The country’s manufacturing PMI increased in December to 50.1. Meanwhile, Australia’s finalized December manufacturing PMI fell slightly to 51.6.
In FOREX trading, the U.S. dollar is higher ahead of PMI data.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 0.4% lower at $57.21/barrel.
In the metals complex, gold is 1.7% higher at $4,392.59/ounce despite a strengthening dollar.