S&P 500 ends lower, AI stocks buoy Nasdaq
Wed January 7, 2026 4:31 PM
Tech had a pretty good morning but a lousy afternoon. The Nasdaq was up almost 200 before starting an afternoon tumble and barely breaking even with the S&P in negative digits and the Dow down big. The possible triggers were an anemic jobs report which failed to budge the meter on future rate cuts.
AI also came back in favor after a period of fear over stretched valuations but the overall sentiment seems to be “buy and hold” regardless of the ups and downs; in fact, “buy it and then ignore it” as an antidote to the volatility. Q4 remains pricey with the S&P trading at 22x earnings vs a 19 average. After the recent big boosts in industrials, both the banking and defense sectors took a slump today. Volume was above the 16.2 average, coming in at 17.4 billion.
DJ: 49,462.08 +484.90 NAS: 23,547.17
+151.35 S&P: 6,944.82
+42.77 1/6
DJ: 48,996.08 -466.00 NAS: 23,584.28
+37.10 S&P: 6,920.93
-23.89 1/7
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