Dow Jones opens 2026 flat as chip gains, tariff pause, and leadership shifts weigh
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US equities opened 2026 on a cautious note, with the S&P 500 and Nasdaq essentially flat as strength in semiconductors offset weakness elsewhere in technology. The Dow Jones found some footing on Friday after an early plunge through the overnight session, holding steady near where the first trading day of 2026 started. Looking ahead, Wall Street strategists remain broadly bullish on US equities through 2026. The latest CNBC strategist survey points to an average S&P 500 target of 7,629, implying double-digit upside for the year. Some strategists expect market leadership to broaden beyond mega-cap technology, with rotation into regional banks and other non-tech sectors, while select richly valued tech names could lag. Semiconductors steady markets after 2025 tech splurge Chipmakers such as Nvidia (NVDA) and Micron (MU) advanced, extending momentum from a powerful 2025 driven by artificial intelligence spending, while software names including Salesforce (CRM) and CrowdStrike (CRWD) declined. Tesla (TSLA) also weighed on sentiment after reporting fourth-quarter deliveries well below expectations. Despite the subdued start to the year, 2025 closed with strong gains across major benchmarks, as the S&P 500 rose more than 16%, the Nasdaq climbed over 20%, and the Dow added roughly 13%, all reaching record highs through the year. Tariff pause sparks relief rally in furniture stocks Outside of technology, furniture and home goods stocks stood out after US President Donald Trump delayed planned tariff increases on upholstered furniture, kitchen cabinets, and vanities for one year. Wayfair (W), RH, and Williams-Sonoma (WSM) all rallied as investors reassessed cost pressures tied to trade policy. The tariff pause follows a sharp divergence within the sector in 2025, when value-oriented retailers surged while higher-end brands struggled amid sourcing concerns and volatile demand. On the economic front, US manufacturing activity cooled modestly in December as new orders slowed, according to…
Filed under: News - @ January 2, 2026 5:21 pm