S&P 500 Climbs in First Full Week of 2026, Hits New Highs
The S&P 500 index rose 1.6% this week, closing at a record high of 6,966.28, driven by the consumer discretionary sector. Homebuilders gained significantly after President Trump announced a $200 billion mortgage bond purchase plan. Economic data showed mixed results, with nonfarm payrolls rising by 50,000, below expectations, while the unemployment rate fell to 4.4%. Consumer sentiment improved but remained low. Utilities sector declined 1.6%, with NRG Energy's stock dropping 10% due to a CEO succession plan. Earnings reports from major banks are expected next week.
fidelity·