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Happy Tuesday. This is TheStreet’s Stock Market Today for Jan. 6, 2026, the third trading day of the year. You can follow the latest updates on the market here in our daily live blog.

Update: 4:02 p.m. ET

Closing Bell

The market is now closed. The Russell 2000 (+1.29%) rose over one percent to 2,581.43, coming up just short of a record close.

Here was the index today:

Meanwhile, the Dow (+0.99%) came up just short of a one percent gain, but set a new record at 49,462.08. The S&P 500(+0.62%) also notched a new record at 6,944.82.

The Nasdaq Composite (+0.65%) came up short of a record at 23,547.17.

AI stocks, namely memory equities like Sandisk Corp (+28%), Western Digital (+16.77%), and Seagate (+14%), led the broader market. Among S&P 500 stocks, technology names dominated the conversation; 20 of the top 25 performers today were in the tech industry, mostly semiconductor firms and AI-adjacent trades.

Update: 2:42 p.m. ET

Farewell, Santa Rally. Hello New Year, New Market?

The Santa Rally might have faded away as 2025 turned to 2026, but could it be that “New Year, New Me” might apply to the market as well?

To start the year, the Russell 2000 and Dow have outstripped the returns of its tech-heavy large cap competition; they’re up 3.1% and 2.78% respectively in the first three days of trading. The S&P 500 and Nasdaq Composite, by contrast, are up just 0.99% and 0.26%, respectively.

The divergence might have a lot to do with the indexes’ performances in 2025. While the Nasdaq (+20.36%) and S&P 500 (+16.39%) posted returns in the high teens, the Dow (+12.97%) and Russell 2000 (+11.45%) lagged the heavily-watched benchmarks.

So what investors might be seeing now is a catchup trade. The somewhat funny contradiction is that both the small cap Russell and the large cap-focused Dow both seem to be trading in sympathy, showing that it’s less likely to be a rotation from “megacaps” to comparatively smaller assets. Rather, it might simply mean that investors are rotating away from buzzy investments in search of pockets of value.

Even more impressively, the S&P 400 MidCap Index and S&P Small-Cap 600 ETF have outstripped all of these large indexes, showing that many investors have put a premium on quality over the last few days. They’re up 4% and 3.17% respectively to start the year. Perhaps some of that pivot can be ascribed to the retreat from tech and related speculative plays.

That said, as the market day draws to a close, the Dow (+0.93%) and Russell 2000 (+0.88%) could be on track for new record closes. The S&P 500 (+0.63%) and Nasdaq (+0.62%) could also be on track for new records of their own, assuming the market can end on strong enough footing. It’d be hard for bulls to not be happy with what they have to start 2026.

Update: 1:08 p.m. ET

Midday Movers

Top of the hour (or rather, eight minutes past.) Past midday, equities are at session highs, with the Dow (+0.85%) and Russell 2000 (+0.53%) mustering an impressive comeback from the early trading session. The S&P 500 (+0.51%) and Nasdaq (+0.50%) aren’t far behind.

In other words, stocks are biased to upside in this lower-volume session: 53.6% (2,966 issues) are advancing against 43.6% (2,411) in decline. That said, it’s that time of day again where we digest the top movers in the market to identify stories making moves in the markets. Our Midday Movers list aims to capture the top and bottom 20 equities with at least a $2 billion market cap.

Let’s tee off:

Winners

Today’s top-performing stock is OneStream (+28.11%), which is soaring on news that buyout firm Hg Capital will take the company private just 17 months after its IPO. That deal will value the enterprise finance management firm at $6.4 billion.

It’s joined by Sandisk (+22.58%), Western Digital (+15.13%), and Seagate (+11.9%), which has become something of a ‘holy trinity’ of computer storage equipment recently. They’re rising on the recent revelation — although, long foreshadowed by industry analysts — that the computer memory shortage is really bad! Surely, this will result in higher prices for them.

Also one to take a look at is Fermi (+9.56%), which has had one of the more tumultuous runs on markets since its late 2025 IPO. About three weeks ago, the company plummeted after a key tenant of the aspirational data center REIT pulled funding support. It seems to be rising today ahead of a business update due next week.

Losers

At the bottom of the market at midday, SoFi Technologies (-10.59%) after announcing that underwriters will exercise their option to buy shares in the firm. The company recently sold more than $1.5 billion in stock to fund growth. Despite the recent decline, the neobank is seen as a strong candidate for possible S&P 500 inclusion in the next quarterly shakeup.

It’s joined in the list by crypto mining and holding companies IREN(-10.08%), Cipher Mining (-9.66%), TeraWulf (-8.46%), and Cleanspark (-7.67%). At the very bottom of the list, Strategy (-5.47%), arguably a forefather of the ‘bitcoin treasury as a company’ phenomenon, is also in decline. The firms might be reacting to murmurs that MSCI might choose to exclude crypto portfolio companies from their methodologies.

Update: 9:45 a.m. ET

Opening Bell

The U.S. markets have now been opened for a short bit, and like clockwork, today’s opening trade is shaping up differently than yesterday’s did.

The Russell 2000 (-0.12%) is reversing yesterday’s wins, while the Nasdaq (+0.49%), S&P 500 (+0.39%), and Dow (+0.27%) are heading higher.

In total, 49.1% (2717) of U.S. issues are advancing this morning against 46.4% (2568) in decline.

For some color on the situation (green or red, anybody?), here is the S&P 500 at last glance (15 min delayed.)

You might notice that healthcare and tech names are now flashing bright green, along with utilities in darker shade of green. Many of yesterday’s winning sectors are mixed today by contrast, including energy, industrials, and financials.

Further, continuous futures in Brent Crude (+0.31% to $61.59) are higher after this weekend’s interventions in Venezuela. At the same time, Silver (+4.58% to $80.165) continues to advance back towards records and Gold (+1.07% to $4,499) sits on the verge of $4.5K. Natural Gas (-2.25% to $2.828) continued a row of recent declines.

Both S&P Composite and Services declined month-over-month in their December report, but remained above 50, a sign that these pockets of the economy continued to grow.

This section will be updated to reflect new developments as they come available.

Update: 8:36 a.m. ET

A.M. Update

Good morning. We’ll be kicking off the third trading day of 2026 in short order. Stock futures are currently biased to the upside, continuing an upward trend post-New Year holiday. Here are the developments of note on the calendar:

Economic Data + Events

Virtually all of this morning’s economic data and events will be coming in the hour before and after the market opens. None of the reports are likely market-movers, but reports like the S&P Global Composite and Services PMI Final for December might offer some data points on the state of the economy. Here’s what is slated (updated after the results):

Earnings Today

Today, AAR Corp. is the only earnings report from a firm with at least a $2 billion market cap. Those results are expected after the bell. Still, earnings season is set to kick off later this week, so enjoy our brief reprieve from data contagion.