S&P 500, Dow hit closing record highs; Walmart, tech climb
Mon January 12, 2026 4:44 PM
With the Trump administration threatening to indict Jerome Powell, all three indexes started in the red this morning but with Walmart announcing it will switch from the Dow to Nasdaq this month, all three indexes got a nice little boost with all three closing in the green. Tech did better than the other what with Q4 forecasts for the tech sector being an astounding 26.5% year-on-year. S&P earnings overall are seen climbing some 8.8%.
A damper, though, came to the financial sector with Trump’s latest proposal to freeze credit card interest rates at 10%, an announcement that sent bank stocks tumbling as much as 6% and the overall sector down 0.8%. As for Powell, after the initial shock, investors shrugged off the threat as not having much teeth, especially when a number of former Fed governors came out in Powell’s defense. Q4 reporting begins tomorrow with the big banks. CPI is also released tomorrow to give more clarity to rate cuts with the bets now on at least two more this year. Volume was above the 16.4 average, coming in at 17.29 billion.
DJ: 49,504.07 +237.96 NAS: 23,671.35
+191.33 S&P: 6,966.28 +44.82 1/9
DJ: 49,590.20 +86.13 NAS: 23,733.90
+62.56 S&P: 6,977.27
+10.99 1/12
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