economy
January 9, 2026
The struggles of luxury chain Saks is another retailer's gain
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- S&P 500 closed at a record high in the first full trading week of 2026.
- December Nonfarm Payrolls showed 50,000 jobs added, below estimates.
- Supreme Court did not rule on President Trump's tariffs; next opinion day is Wednesday.
- Mortgage rates fell to their lowest since February 2023, boosting housing stocks.
- TJX Companies is seen as benefiting from potential closures of luxury chain Saks Global.
- Boeing's stock price target was raised by Baird, with analysts citing CEO Kelly Ortberg's turnaround efforts.
- Major banks including JPMorgan, Wells Fargo, Citi, and Bank of America are set to report earnings.
- Upcoming economic data includes December CPI, PPI reports for October and November, and November retail sales.
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