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Record S&P 500 High Amid Weak Jobs Data and Fed Cuts

1/10/2026

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Summary

Story summary

The U.S. stock market opened 2026 with the Standard & Poor's 500 index (S&P 500) at a record high, led by technology and materials.
Weak jobs data showed slower growth, while unemployment fell to 4.4%.
Investors expect Fed rate cuts.
General Motors announced a $6 billion charge as it pivots away from electric vehicles, following Ford.
The Supreme Court's upcoming tariffs decision remains a focus for traders.

History

Historical Context

The U.S. stock market crash of 1929 marked the onset of the Great Depression, with unemployment peaking at 25% by 1933. President Franklin D. Roosevelt's New Deal aimed to restore economic stability. Today, the S&P 500's record high reflects recovery from this turmoil, yet recent weak job data and General Motors' $6 billion charge highlight ongoing economic vulnerabilities.

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Story summary

The U.S. stock market opened 2026 with the Standard & Poor's 500 index (S&P 500) at a record high, led by technology and materials.
Weak jobs data showed slower growth, while unemployment fell to 4.4%.
Investors expect Fed rate cuts.
General Motors announced a $6 billion charge as it pivots away from electric vehicles, following Ford.
The Supreme Court's upcoming tariffs decision remains a focus for traders.

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