Global equity markets closed at record highs on Friday, while the U.S. dollar strengthened after data showed U.S. job creation slowed modestly in December, reinforcing expectations that the Federal Reserve is still on track to cut interest rates later this year.
Major U.S. indexes—including the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite—ended the session at all-time highs. European shares also surged, with the STOXX 600 marking a record close and extending its longest weekly winning streak since May.
U.S. labor data showed employers added 50,000 jobs in December, slightly below forecasts of 60,000, according to economists surveyed ahead of the report. The unemployment rate edged lower to 4.4%, in line with expectations. While hiring slowed, the figures were not weak enough to alter the broader outlook for monetary policy.
“Job growth came in a bit under consensus, but the numbers still point to a stable labor market,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder. “Markets appear comfortable that the economy is cooling without slipping into recession.”
Wall Street extends gains
The Dow Jones Industrial Average rose 238 points, or 0.5%, to 49,504, while the S&P 500 gained 0.7% to 6,966. The Nasdaq Composite climbed 0.8% to 23,671, with all three indexes posting gains for the first full trading week of 2026.
Chipmakers led U.S. stocks higher after President Donald Trump said he had a “great meeting” with Intel’s chief executive. Intel shares jumped more than 10%, while Broadcom added nearly 4%, lifting the broader technology sector.
Global equities followed suit, with MSCI’s world stock index rising 0.5% to a record intraday level. In Europe, mining stocks boosted sentiment, with Glencore shares rallying and helping push the STOXX 600 up nearly 1%.
Dollar firms, yields mixed
In currency markets, the U.S. dollar gained ground after the jobs report. The dollar index was last up 0.26%, after briefly giving up earlier gains as investors assessed the data.
U.S. Treasury yields moved unevenly. The rate-sensitive two-year yield climbed about 5 basis points to 3.54%, reflecting steady expectations for future Fed policy, while the 10-year yield slipped slightly to around 4.17%.
Commodities rise
Oil prices surged, with Brent crude jumping more than 2% to settle above $63 per barrel, while U.S. crude gained a similar amount to close near $59. Analysts said concerns over Venezuelan supply recovery under U.S. oversight continued to support prices.
Base metals also advanced. Copper extended recent gains on expectations of stronger future demand, while aluminum touched its highest level since April 2022.
Tariffs remain in focus
Investors continued to monitor developments around President Trump’s tariff policies. Markets had been bracing for a potential U.S. Supreme Court ruling on their legality, but the court is now expected to issue decisions later in January, according to its updated schedule.
With economic data returning to a regular release cycle following earlier government disruptions, investors are increasingly focused on inflation trends and signals from the Federal Reserve as markets begin the new year on strong footing.