LETTER FROM WALL STREET: The “Low-Hire” Rally That Broke Records
US DAILY LETTER - TRUTH & TRADITION Saturday, January 10, 2026
While the country settles into the weekend, Wall Street is processing a Friday for the record books. The S&P 500 and Dow Jones didn’t just climb—they vaulted to all-time highs, closing a volatile first week of 2026 with a defiant surge.
Here’s what you need to know.
1. The Jobs Report: Mixed Signals, Maximum Gains
The Labor Department’s December report gave markets a “glass half full” read. Employers added just 50,000 jobs, missing expectations of 60,000+. Normally, sluggish hiring signals a cooling economy, but investors found a silver lining: the unemployment rate dropped to 4.4%.
This “low-hire, low-fire” state is exactly what the soft-landing crowd wanted to see. It suggests a resilient economy that isn’t overheating, even if it isn’t sprinting.
2. The “Trump Bump” for Intel
The biggest corporate story of the week belongs to Intel (INTC). Shares skyrocketed over 10% Friday following a high-profile White House meeting between President Trump and CEO Lip-Bu Tan. The administration’s vocal support for domestic semiconductor manufacturing and the AI cycle has revitalized investor confidence in the American chip giant.
3. The Tariff Waiting Game
Markets were braced for a Supreme Court ruling on the legality of the administration’s proposed tariffs—the so-called “Liberation Day” levies. The Court delayed the decision until January 14. Until then, trade-sensitive sectors remain in a holding pattern.
4. Energy & The Venezuela Factor
Oil prices climbed as industry executives met with the President to discuss American operations in Venezuela. Crude (WTI) settled near $59, as traders bet on a long-term shift in global supply chains under new U.S.-led energy policies.
THE CLOSING BELL
January 9, 2026
* DOW: 49,504.07 (+0.48%) – RECORD CLOSE
* S&P 500: 6,966.28 (+0.65%) – RECORD CLOSE
* NASDAQ: 23,671.35 (+0.81%)
* BITCOIN: ~$90,200 (Stable)
* GOLD: $4,515/oz (+1.3%)
THE WEEK AHEAD
Earnings season begins Tuesday with JPMorgan Chase (JPM) reporting. These results will be the first real look at how the American consumer is faring in this high-interest, high-record market. The Supreme Court’s tariff decision lands midweek—watch that space.
Stay vigilant. Stay informed.
US Daily Letter