2026-01-10 01:28:17

U.S. stocks continued their strong performance on Friday, with the Dow Jones Industrial Average and the S&P 500 both hitting new all-time highs. Behind this rally, expectations of rate cuts remain the main driving force — although December non-farm payrolls were somewhat "disappointing," they actually reinforced the market's confidence in the Federal Reserve's rate cuts this year.

On the data front, December added only 50,000 non-farm jobs, significantly below expectations; the unemployment rate fell from 4.5% to 4.4%, which was in line with expectations. This combination of "weak employment" would normally suggest a potential for rate cuts. The U.S. Supreme Court may also rule on the legality of related tariff policies, adding to market caution.

At the close, the Nasdaq rose 0.81%, up 1.88% for the week; the S&P 500 increased 0.65%, up 1.57% for the week; the Dow gained 0.48%, up 2.32% for the week. Both the Dow and the S&P 500 hit new record closing highs.

Individual stocks showed mixed performance but overall improved. Among large tech stocks, Intel performed the best, surging over 10% in a single day — the largest daily gain since September — and reaching a new high since March 2024. Tesla rose over 2%, Meta increased more than 1%, and Apple, Microsoft, Google, and Amazon all saw modest gains, with Apple successfully ending a 7-day losing streak; however, Netflix fell over 1%.

Storage concept stocks continued their hot streak, with SanDisk, Micron Technology, Seagate, Western Digital, and others all rising, with SanDisk up 12.8%. Nomura Securities noted that enterprise SSD demand for large-capacity 3D NAND remains robust, and SanDisk-related products could see prices surge over 100% quarter-over-quarter. Nuclear power concept stocks also generally advanced, with Oklo soaring nearly 8% and Vistra up over 10%.

Popular Chinese concept stocks underperformed, with the NASDAQ Golden Dragon China Index falling 1.3%, down 2.09% for the week. Among them, Atour fell over 5%, Qifu Technology dropped more than 3%, XPeng Motors and Vipshop declined over 2%; however, Bawang Chaji and Legend Biotech rose over 2% against the trend, and Bilibili and Baidu gained over 1%.

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AlwaysQuestioning

· 01-10 10:44

How long can the hype around rate cut expectations last? It feels like it's almost just air speculation. Intel's rebound is quite strong, but I'm still cautious. I'll wait and see. SanDisk's price surged over 100%? How shortages must be! Those stockpiling chips are making a fortune. Chinese concept stocks are still falling, but it's not our fault... Nuclear power concept is back? Can this round last? Apple has finally turned around. Those seven consecutive declines before were hard to watch. Will the Federal Reserve really cut interest rates, or is it just another pie-in-the-sky promise?

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FunGibleTom

· 01-10 01:55

The expectation of interest rate cuts is back again. This rally is driven by this expectation... The weak non-farm payrolls actually turn out to be a positive, which is a bit surreal. Intel surged 10% in one go, and the storage concept stocks are crazy. It feels like everyone is just hyping concepts. Why are Chinese concept stocks so weak... The Golden Dragon Index is falling again. Luckily, Bilibili and Baidu are holding up. If interest rates are really cut, can this rally continue? Or do we have to wait for news from the Supreme Court? Apple finally turned around after 7 consecutive declines. It’s finally showing a decent rebound.

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APY追逐者

· 01-10 01:53

The expectation of rate cuts can really be hyped up this time, weak employment data actually benefits the market, the logic is a bit absolute. Intel surged 10% in one go, is it about to turn around? SanDisk rose 12.8%, SSD prices skyrocketed 100%, this pace is a bit fierce. Chinese concept stocks are still the same, somewhat disappointing, sigh. Nuclear power concept stocks are heating up, but it feels like I always miss out. Will this new high in US stocks be another trap for late buyers? Storage chips are really in demand, I kind of regret not buying the dip earlier. Apple finally stopped falling, the 7-day decline really got me on edge. The tariff policy is not yet implemented, but market sentiment is already cautious, a bit anxious.

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BearMarketLightning

· 01-10 01:52

Expectations of rate cuts are so strong, but Chinese concept stocks are still falling. I'm really convinced. Intel's 10% surge is incredible. Is this a turnaround? SanDisk's price skyrocketed by 100%? Are you kidding me? Weak employment data is actually good news? The market logic is becoming more and more absurd. The nuclear power concept is starting to perform again. Can it sustain? Apple finally broke its 7-day losing streak. There's finally some positive movement. The recent new highs in the US stock market seem a bit fake. We need to see how the tariff rulings unfold. Chinese concept stocks are really dragging. When will they turn around? Storage stocks are so hot, but how long can this rally last? Non-farm payroll data is so weak but the market still rises. Rate cuts are definitely on the table.

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Layer2Observer

· 01-10 01:49

Weak employment data actually raises expectations for rate cuts; this logic is quite interesting. Let's look at the data—50,000 new jobs, which is indeed quite grim. But the question is, is the market's rally really because of rate cuts? Or is it betting that the Federal Reserve will be forced to cut rates? The two concepts are quite different. Intel's recent surge is a bit outrageous; from a technical perspective, it's important to watch whether there is fundamental support behind it, or it could easily become a sentiment-driven rebound. On the other hand, the storage sector is more reasonable, with SSD prices soaring by 100%. If the data is genuine, that definitely warrants attention. Chinese concept stocks continue to underperform.

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