Market Performance - The S&P 500 rose 0.19% to 6,858.54, while the Dow Jones Industrial Average climbed 0.66% to 48,382.38, indicating strong performance in blue-chip stocks [1] - The Nasdaq Composite slipped 0.03% to 23,235.63, reflecting softness in the tech sector [1][2] Sector Analysis - Cyclical and industrial strength contributed to the Dow's outperformance, while the Nasdaq experienced a decline from its early gains [2] - Semiconductor stocks showed significant gains, with Sandisk rising 16%, ASML up 9%, and Intel increasing by 7%, driven by optimism regarding AI demand [3] Company-Specific Developments - Tesla's stock fell 3% due to vehicle deliveries falling short of expectations, and BYD has now surpassed Tesla as the world's largest electric vehicle seller [4] - Greg Abel officially took over as CEO of Berkshire Hathaway, succeeding Warren Buffett after his 60-year tenure [4]
Stock Market Today, Jan. 2: Dow Climbs After Industrials Outperform on Rotation Away From Mega Cap Tech
Yahoo Finance·2026-01-02 22:45