On Friday, Eastern Time, data showed that December US non-farm employment growth slowed more than expected, but the unemployment rate dropped to 4.4%, indicating that the labor market has not deteriorated rapidly. This further reinforces the market's view that the US employment market is in a state of "low hiring, low layoffs," boosting confidence that the economy may avoid falling into a recession.

The weaker-than-expected US non-farm payroll report has not significantly changed the market's expectation of a rate cut by the Federal Reserve this year. According to CME data, the market currently prices in only a 5% chance of the Fed cutting interest rates at the next meeting, down from 11% on the previous trading day. However, the overall market still expects the Fed to cut rates at least twice this year.
The three major US stock indices all closed higher. In the first full trading week of 2026, Wall Street's three major indices all surged significantly.