The S&P 500 index registered a decline in early trading activity, dropping 30.10 points to close at 6,936.18 points following the market opening. This movement represents a percentage decline of 0.43% from the previous session's levels.

Market Performance Overview

The benchmark US equity index's performance reflects early session trading dynamics, with the index experiencing downward pressure during the opening period. The decline demonstrates modest weakness in the broader market sentiment as captured by this widely-tracked market indicator.

Trading Session Activity

The S&P 500's movement during the opening session indicates the market's initial response to prevailing conditions. The index, which serves as a key barometer for US equity market performance, showed this measured decline as trading commenced for the session.

The 30.10-point drop brings the index to its current level of 6,936.18 points, representing the market's valuation following the opening period's trading activity.

Wall Street closed the first full week of 2026 on a strong note, with the S&P 500 rallying to a record high close driven by robust performance from chipmakers and other technology stocks. The benchmark index gained 0.65% to end at 6,966.28 points, while a weaker-than-expected jobs report had minimal impact on market expectations for Federal Reserve interest rate cuts.

Semiconductor Sector Leads Market Rally

Chip stocks dominated Friday's trading session, with the PHLX semiconductor index surging 2.70% to reach a record high. Several major technology companies contributed significantly to the market's upward momentum:

Vistra emerged as another standout performer, jumping 10.50% after Meta Platforms announced an agreement to purchase power from the company's nuclear plants, highlighting the growing intersection between technology and energy infrastructure.

Broad Market Performance and Sector Rotation

The market rally extended beyond technology stocks, with nine of the eleven S&P 500 sector indexes posting gains. Materials led the sector performance with a 1.80% increase, followed by utilities which gained 1.24%. This broad-based strength reflected a notable shift toward previously underperforming sectors.

The S&P 500 value index has climbed approximately 2.00% in 2026, outpacing the 1.00% gain in the S&P 500 growth index, underscoring the recent rotation toward previously lagging sectors.

Housing and Mortgage Sector Surge

Mortgage lenders experienced significant gains following Trump's announcement of plans to purchase $200.00 billion in mortgage bonds to reduce housing costs. The sector responded enthusiastically to this policy initiative:

• LoanDepot surged 19.30%
• Rocket Companies gained 9.60%
• Opendoor Technologies rallied 13.10%
• Philadelphia Housing index rose 5.70% to its highest level since October

Market Dynamics and Trading Activity

Trading volume reached 17.00 billion shares, exceeding the 20-session average of 16.40 billion shares. Market breadth remained positive, with advancing issues outnumbering declining ones within the S&P 500 by a 1.3-to-one ratio. The index recorded 48 new highs against only 6 new lows, while the Nasdaq posted 140 new highs compared to 62 new lows.

Current valuations show the S&P 500 trading at approximately 22 times expected earnings, down from 23 in November but still above the five-year average of 19. General Motors provided a notable exception to the day's positive sentiment, falling more than 2.00% after announcing a $6.00 billion charge to unwind certain electric-vehicle investments.