Late-Day Fade Ahead of Jobs Report

Wednesday, January 7th, 2026 and this was one of those sessions where the close

tells you more than the headline, because the headline is simple: stocks cooled off.

But the real story is we started sunny and ended gloomy, not because the world suddenly broke,

but because expectations got ahead of positioning and markets did what markets always do at the start

of a new year: they test the confidence. All right, let's run the global tape.

In the United States, the S&P 500 finished down about a third of a percent at 6,920.

The Dow Jones Industrial Average finished down almost 1% at 48,996. And the NASDAQ Composite

actually closed slightly higher, up around two-tenths of a percent at 23,584.