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Happy Friday. This is TheStreet’s Stock Market Today for Jan. 2, 2025. You can follow the latest updates on the market here in our daily live blog.

Update: 9:30 a.m. ET

Opening Bell

The first opening bell of 2026 is ringing. The Nasdaq (+1.11%) is up more than one percent, while the Russell 2000 (+0.52%) and S&P 500(+0.47%) are also advancing. The Dow (-0.04%), meanwhile, appears to be falling into decline — nearing that center line on the chart as of this writing.

You can quickly identify why the Nasdaq and S&P 500 are doing so well this morning. One word: technology. Check out the heat map — or rather, the green map. It’s Mag7 or bust to start 2026…

However, it doesn’t just stop at the Mag7. Zoom out and you’ll see that the Russell 2000 and its growth-centric crowd has an affinity for tech stocks, too. However, they’re also bidding up industrials, materials, and pockets of other sectors. Here’s how that looks right now:

We’ll add some more context here once the market starts moving and shaking. Check back soon!

Update: 9:06 a.m. ET

Tesla Falls Short of Delivery Expectations

Electric vehicle firm Tesla fell far short of analyst expectations in its latest quarterly report, coming in at 418,227 deliveries. Analysts were looking for a number closer to 440,907.

The tepid showing comes after the Trump administration and Congress moved to retire a federal EV credit, setting off a boom in sales before its expiration at the end of the third quarter, which made the fourth quarter the first full quarter of sales without the credit to help move its inventory.

How this will ultimately boil down to the company’s earnings remains to be seen. However, some transitory pain is expected. The company has looked to pivot from its roots as an energy firm to an autonomy company, embracing the promise of its Robotaxi business and Optimus humanoid robot.

Those businesses are unlikely to contribute much to the company’s coming quarterly report, expected later this month, but the report might offer commentary on the progress of key programs.

Update: 8:27 a.m. ET

A.M. Update

Happy 2026. It’s the first trading day of the year, which means fresh beginnings for the markets. Analysts have stacked expectations for this year, with market hawks widely expecting another year of returns — many polled by TheStreet are even banking on a fourth consecutive double-digit showing this year.

For many versed in the here and now, the end of the fourth quarter will also herald the first major test of 2026: bank earnings. We’ll get those lined up next week, but in the meantime, the bulls seem to be warming up. This morning, futures for the the Nasdaq (+0.97%) are up nearly one percent, while the Russell 2000 (+0.64%), S&P 500 (+0.55%), Dow (+0.36%) are also tipped to the upside for the first trading session of 2026.

Economic Data + Events

This morning, we’ll get our first data point of 2026 in the S&P Global Manufacturing PMI for December. It’s out at 9:45 a.m. PT. Last month, it came in at 52.2.

Aside from that, we’ll get the Fed Balance Sheet for the last week of 2026 at some point later in the day. Then, we’ll call it a wraps for the first trading day of 2026.

In business data, Tesla‘s latest delivery data will also be carefully scrutinized; it’s due out before the market open and we’ll do an update once that comes out.

Next week, we’ll get the big boys as ISM Manufacturing and Services, JOLTS Job Openings, and Payrolls are slated to report.

Earnings Today

There are no earnings today. Enjoy the day off!