Nasdaq slightly green, S&P 500 ~flat, Dow dips
Jan S&P Global Mfg PMI 51.9 vs 52 est;; Services PMI 52.5 vs 52.8 est
Jan Final UMich sentiment 56.4 vs 54.0 est
Euro STOXX 600 index off ~0.3%
Dollar, bitcoin slip; gold up slightly; crude up ~3%
US 10-Year Treasury yield edges down to ~4.24%
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US STOCKS MIXED EARLY FRIDAY, BUT ON PACE FOR WEEKLY DIPS
U.S. stocks are mixed early on Friday, setting the S&P 500 .SPX and Nasdaq .IXIC up for a second consecutive weekly drop, as Intel INTC.O tumbled on a downbeat outlook and lingering geopolitical concerns kept risk appetite in check.
However, after opening weakness, the S&P 500 and Nasdaq are now flat to slightly positive in the wake of an above-estimate final read on January University of Michigan sentiment.
A majority of S&P 500 sectors are higher with Energy .SPNY the leading gainer. Financials .SPSY are the weakest group.
The Mag Seven group of stocks .MAGS.K is positive, and Gold/Silver miners .XAU are continuing their winning ways. Chips .SOX, on the back of the Intel drop, small caps .RUT and banks .SPXBK, .KRX are among the weaker groups.
For the week, the S&P 500 is tracking to decline around 0.4%, the Nasdaq is off about 0.15%, and the Dow .DJI is down about 0.6%.
Meanwhile, the recent run of small-cap outperformance is at risk of ending. The RUT/S&P 500 ratio is turning down after 14 straight days of gains through Thursday's close. The longest stretch of small-cap outperformance in history was a 16-day run that ended in May 1996.
Here is a snapshot of where markets stood around 10:08 a.m. ET.
(Terence Gabriel)
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EARLIER ON LIVE MARKETS:
BREWERY SHARES MAY GET THEIR BEST ASSIST YET FROM FIFA WORLD CUP THIRST CLICK HERE
S&P 500 ENERGY SECTOR STOKED FOR A STRONG 2026? CLICK HERE
UK RETAIL SALES REBOUND IN DECEMBER, BUT OUTLOOK FRAGILE CLICK HERE
EARNINGS CAN SHIELD EQUITIES FROM GEOPOLITICAL NOISE CLICK HERE
EUROPE'S BANK BUYBACK BOOST FADING - UBS CLICK HERE
SOFT END TO HECTIC WEEK CLICK HERE
EUROPE BEFORE THE BELL: FUTURES LOWER, STOCKS SET FOR WEEKLY FALL CLICK HERE
TRUMP'S ARCTIC PANTOMIME CHILLS THE DOLLAR CLICK HERE
EarlyTrade01232026 https://fingfx.thomsonreuters.com/gfx/buzz/myvmqrrbnvr/EarlyTrade01232026.png
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)
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