It's been an up-and-down week for stocks. Overall, markets are looking to head into the three-day weekend (MLK Day Monday, January 19) not very far from where they began, though with a lsight lean to the downside.
Through Thursday's close, the Dow is off 61 points, the NASDAQ is down 141, and the S&P down 21 and change.
Precious metals have had another solid week, though New York traders are looking to tamp down some of the gains.
Gold was up $109 at the close of trading on Thursday, at $4619.76, but is down slightly, at $4600 just before 9:00 am ET. Similarly, silver finished up $12.78, at $92.73 Thursday, but is being treated to its regular weekly COMEX spanking prior to Friday's U.S. stock market open, at $88.54. Silver has been whipsawed back and forth between competing markets in New York, London, and Shanghai, the latter vaulting past $100/ounce Thursday.
In terms of overall health, global equity markets continue to show considerable froth in the face of uncertain geopolitical and economic stresses.
Before the open Thursday, Taiwan Semi (TSM) reported fourth quarter earnings that beat estimates and the company guided higher, sparking a nice bump to $350 before settling back to close at $341.64. The world's largest chip manufacturer is up nearly seven percent on the week, helping tech gains on Thursday.
Banks, despite spotty results, have shown strength late in the week, but overall, don't appear to be the strongest cards in the deck. Despite weakness this week, January is off to a fair start for stocks, with the Dow leading, up nearly three percent, while the NASDAQ and S&P follow, though only ahead by 1.24% and 1.48%, respectively.
Bitcoin has regained some momentum, up more than nine percent year-to-date, at $95,468.72 Friday morning.
Stock futures are positive, led by NASDAQ, up 125 a half hour before the bell.
WTI crude oil continues to hold gains near $60/barrel. The volatility in oil had much to do with President Trump's saber-rattling at Iran, though as Iran's protests were finally quelled midweek, the rhetoric changed to a more conciliatory tone. Word has it that Russian President Putin advised the Iranian leadership to tone down in terms of punishing protesters - many of which were suspected Mossad and CIA plants - with executions.
Stocks, which remain near all-time highs, have some work to do if they plan on finishing the week higher, especially in the tech sector.
At the Close, Thursday, January 15, 2026:
Dow: 49,442.44, +292.81 (+0.60%)
NASDAQ: 23,530.02, +58.27 (+0.25%)
S&P 500: 6,944.47, +17.87 (+0.26%)
NYSE Composite: 22,808.81, +87.59 (+0.39%)
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