S&P 500, Russell 2000 Soar To Record Highs, Silver Jumps To $80: What's Moving Markets Friday?

Wall Street found firm footing to close the week as solid but unspectacular jobs data eased fears of a sharp labor market slowdown while keeping Federal Reserve rate-cut expectations intact.

• Vistra shares are powering higher. Why is VST stock surging?

Both the S&P 500 and the Russell 2000 climbed to fresh record highs, signaling a rally that has broadened across both large-cap and small-cap stocks. By midday trading in New York, the index of the 500 largest U.S. corporations broke above 6,970 points, up 0.7%. The Russell 2000 jumped up to 1.2% to 2,635, setting another all-time high and marking its fifth gain in the past six sessions.

Blue-chip stocks also hovered near record levels, with the Dow Jones Industrial Average trading around 49,555. The tech-heavy Nasdaq 100 advanced 1% but remained roughly two percentage points below its late-October peak.

December nonfarm payrolls rose by 50,000, slightly below expectations of 60,000, confirming a continued cooling in employment growth. The brighter signal came from the unemployment rate, which unexpectedly declined to 4.4% from 4.5%, suggesting the labor market may be stabilizing after months of gradual deterioration.

On the consumer side, the University of Michigan reported stronger-than-expected sentiment at the start of the year. The index climbed to 54, its highest level since September.

Investors are now almost fully pricing in the Federal Reserve to leave interest rates unchanged at its late-January meeting, according to the CME FedWatch tool. Expectations remain alive for two rate cuts later in the year.

Among notable movers, Vistra Corp. (NYSE:VST) surged after securing a 20-year agreement with Meta Platforms Inc. (NASDAQ:META) to supply more than 2,600 megawatts of zero-carbon energy from nuclear plants in Ohio and Pennsylvania. Shares rallied more than 13%.

Intel Corp. (NASDAQ:INTC) also jumped 10%, reaching its highest levels since March 2024, after President Donald Trump described his recent meeting with CEO Lip-Bu Tan as "a great meeting."

Commodities extended their advance. Silver rebounded sharply, climbing 4% to the $80-an-ounce level. Gold added 0.6% to $4,500 an ounce, while copper rose nearly 2%.

Crude oil was on track for a weekly gain, with WTI crude eyeing back-to-back 3% advances on Thursday and Friday, despite early-week pressure tied to geopolitical developments in Venezuela.

Bitcoin (CRYPTO: BTC) traded flat near $91,000, showing little movement for the week and continuing to lag equities and precious metals.

Friday’s Performance In Major U.S. Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE:VOO) advanced 0.7% to $638.49.
• The SPDR Dow Jones Industrial Average ETF (NYSE:DIA) moved 0.5% higher to $495.06.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) climbed 1.0% to $626.40.
• The iShares Russell 2000 ETF (NYSE:IWM) traded at $261.29, up 1.2%.
• The Utilities Select Sector SPDR Fund (NYSE:XLU) outperformed, rising 1.6%, while the Health Care Select Sector SPDR Fund (NYSE:XLV) lagged, flat on the session.

Russell 1000's Top 5 Gainers On Friday

Russell 1000's Top 5 Losers On Friday

Image created using artificial intelligence via Midjourney.