The S&P 500 Index is up 0.27%, while the Dow Jones is down 0.06%, and the Nasdaq 100 is up 0.46% as of today. March E-mini S&P futures have risen 0.25%, and March E-mini Nasdaq futures are up 0.47%. In economic news, December manufacturing production increased unexpectedly by 0.2% month-over-month, exceeding forecasts of a 0.1% decline.
Chip stocks are experiencing gains driven by optimism in artificial intelligence spending, following Taiwan Semiconductor Manufacturing Co’s announcement of an increased 2026 capital expenditure forecast. Notable movers include Micron Technology, which is up over 7%, and other companies like Lam Research and ASML Holding, up over 3% and 2%, respectively. Conversely, power supply companies are under pressure, with Talen Energy down over 9% due to policy changes advocated by President Trump.
The market anticipates the January NAHB housing market index to rise by 1, reaching 40, while current odds for a 25 basis point rate cut by the Federal Reserve at the January 27-28 meeting are estimated at just 5%. European markets are lower, with the Euro Stoxx 50 down 0.42% and Japan’s Nikkei 225 down 0.32%.
