Tech Giants Propel Nasdaq, S&P 500 to Modest Gains; Dow Retreats Amid Mixed Economic Data

Market Performance - The U.S. stock market had a mixed trading session on January 7, 2026, with the Nasdaq Composite and S&P 500 showing modest gains, while the Dow Jones Industrial Average declined [1] - The S&P 500 rose by 0.03% to close at 6,946.92 points, after reaching an intraday high of 6,965.69 points [2] - The Nasdaq Composite increased by 0.48% to finish at 23,660.86 points, driven by renewed investor confidence in technology and AI-related companies [2] - The Dow Jones Industrial Average fell by 0.54% to close at 49,193.37 points, retreating from its previous intraday record of 49,509.92 [3] Economic Data - The ADP National Employment Report indicated a recovery in private sector hiring with 41,000 payroll additions, missing the estimate of 47,000 [5] - The ISM Services Index for December reached a 14-month high of 54.4, exceeding expectations and indicating strong services sector activity [5] - The Job Openings and Labor Turnover Survey (JOLTS) reported a decline to 7.146 million openings, below the anticipated 7.648 million [5] Upcoming Earnings Reports - The fourth-quarter earnings season is underway, with notable companies reporting after the market close, including Constellation Brands (STZ) with estimated earnings of $2.64 per share on revenue of $2.17 billion, and Jefferies Financial Group (JEF) with estimated earnings of $0.90 per share on revenue of $1.96 billion [4] Sector Developments - The technology sector saw significant gains, particularly in AI-related companies, with NVIDIA Corporation (NVDA) experiencing a positive trading session following new developments announced at CES [7][8] - The semiconductor and storage sectors had explosive gains, with SanDisk (SNDK) surging nearly 28%, Western Digital (WDC) rising 16.8%, and Seagate Technology Holdings (STX) increasing by 14% [9] - The energy sector reacted to geopolitical news, with oil prices falling after an announcement regarding Venezuelan oil supply to the U.S., leading to declines in shares of Exxon Mobil Corporation (XOM) and Chevron (CVX) [10] Company-Specific News - UnitedHealth Group Incorporated (UNH) gained 2% as healthcare emerged as a strong sector, while Moderna (MRNA) jumped 10.9% following a positive assessment from Bank of America [11] - JPMorgan Chase (JPM) fell 2.4% after a downgrade, and American International Group, Inc. (AIG) plunged 7.5% following the announcement of its CEO stepping down [11] - Warner Bros. Discovery (WBD) rose 0.5% after rejecting a buyout bid from Paramount and advising shareholders to consider a rival offer from Netflix [11]