Stock Market Today: Dow Jones, Nasdaq, S&P 500 Futures Slip As Trump Names Kevin Warsh As New Fed Chair Pick— SanDisk, Robinhood In Focus (UPDATED) – State Street SPDR S&P 500 ETF Trust (ARCA:SPY)
(Editor’s note: The future prices of benchmark tracking ETFs, the lede, the headline, and the economic data were updated in the story.)
U.S. stock futures fell on Friday following Thursday’s mixed close. Futures of major benchmark indices were lower.
President Donald Trump announced Kevin Warsh as his nominee to succeed Jerome Powell as Chair of the Federal Reserve early Friday.
Following a delay caused by a Federal government shutdown in late 2025, the Producer Price Index (PPI) for final demand rose 0.5% in December. Despite these logistical hurdles, the index concluded the year with a 3.0% unadjusted increase for 2025.
The 10-year Treasury bond yielded 4.26%, and the two-year bond was at 3.56%. The CME Group’s FedWatch tool‘s projections show markets pricing an 84.7% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.
| Index | Performance (+/-) |
| Dow Jones | -0.84% |
| S&P 500 | -0.92% |
| Nasdaq 100 | -1.13% |
| Russell 2000 | -1.51% |
Stocks In Focus
Apple
- Apple Inc. (NASDAQ:AAPL) was 0.34% lower despite reporting stronger-than-expected financial results for the first quarter of fiscal 2026 after the market closed on Thursday.
- AAPL maintains a stronger price trend over the long term but a weak trend in the short and medium terms with a solid quality ranking, as per Benzinga’s Edge Stock Rankings.
SanDisk
- Benzinga’s Edge Stock Rankings indicate that SNDK maintains a strong price trend in the medium, short, and long terms.
Rocket Lab
- RKLB maintains a stronger price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings.
Deckers Outdoor
- Deckers Outdoor Corp. (NYSE:DECK) jumped 12.85% after reporting record revenue and profit for the third quarter.
- Benzinga’s Edge Stock Rankings indicate that DECK maintains a strong price trend over the short, medium, and long terms with a good quality ranking.
Robinhood Markets
- HOOD maintains a stronger price trend over the long term but a weak trend in the short and medium terms, with a solid growth ranking, as per Benzinga’s Edge Stock Rankings.
Cues From Last Session
Real estate, communication services, and financial stocks led most of the S&P 500 sectors higher, though consumer discretionary and information technology shares closed lower.
Insights From Analysts
Scott Wren, Senior Global Market Strategist at Wells Fargo Investment Institute, maintains an optimistic outlook for the U.S. economy and stock market in 2026, despite some media narratives suggesting a “sell America” mentality.
He expects the American economy to remain resilient, forecasting a “moderate 2.4% growth rate in the U.S. this year.” This steady growth, combined with moderating inflation, creates what he describes as “a good environment for stocks.”
Regarding the stock market, Wren anticipates a milestone year for corporate performance. He notes that the S&P 500 Index has achieved three straight years of record earnings, and he expects “2026 to be the fourth.” He attributes this continued momentum to several factors:
In summary, Wren expects international investors to “continue to vote with their feet” by investing in U.S. assets due to the nation’s deep, liquid markets and rule of law.
Upcoming Economic Data
Here’s what investors will be keeping an eye on Friday.
- The Producer Price Index (PPI) for final demand rose 0.5 percent in December
- January’s Chicago Business Barometer (PMI) will be out by 9:45 a.m., St Louis Fed President Alberto Musalem will speak at 1:30 p.m., and Fed Vice Chair for Supervision Michelle Bowman will speak at 5:00 p.m. ET.
Commodities, Gold, Crypto, And Global Equity Markets
Crude oil futures were trading lower in the early New York session by 1.21% to hover around $64.63 per barrel.
Gold Spot US Dollar fell 6.18% to hover around $5,040.83 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.48% higher at the 96.7450 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 6.28% lower at $82,225.86 per coin.
Asian markets closed lower on Friday, except South Korea’s Kospi index. Hong Kong’s Hang Seng, China’s CSI 300, Australia’s ASX 200, Japan’s Nikkei 225, and India’s Nifty 50 indices fell. European markets were mostly higher in early trade.
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