ETF Tracker Newsletter For January 9, 2026
ETF Tracker StatSheet
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GOLD NEARS RECORD, SILVER SOARS 10%, AND THE BULL RUN ROLLS ON
- Moving the market
Stocks kicked off the day on a strong note after the latest jobs report, with the Dow and S&P 500 both climbing into record territory before settling back a bit.
The December employment data was a mixed bag—it showed payrolls rising by 50,000, slightly below expectations for 73,000, but still signaling that the U.S. economy is moving forward, even if slowly.
The unemployment rate ticked down to 4.4%, surprising economists who had forecast 4.5%, which traders took as a hint that the labor market has enough resilience to support growth without overheating.
Still, given the numbers’ ambiguity, the report didn’t really clear things up for the Fed—it’s strong enough to keep policymakers cautious for now but soft enough to leave the door open to further cuts later if conditions weaken.
Adding to the mix, the Supreme Court delayed its ruling on the legality of President Trump’s broad tariffs, leaving trade policy uncertainty lingering in the background. That decision could have far-reaching fiscal and market implications once it lands.
For the week, all the major indexes finished higher, led by small caps, which surged 5% thanks to a hefty short squeeze.
The “Mag 7” lagged again, as the rest of the S&P 500’s 493 stocks picked up the slack.
Meanwhile, bond yields were mixed, and the dollar had a solid week—but that didn’t stop gold from charging back toward record highs. Silver stole the spotlight, soaring 10% and outpacing everything in sight, with platinum not far behind.
Copper added a respectable 3.7%, while Bitcoin ended the week roughly flat after losing steam midweek.
With small caps ripping, metals on fire, and Bitcoin holding its ground, the setup heading into mid-January looks strong—but will the market’s broad energy and hard‑asset momentum be enough to keep the bull party going?
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