US stocks delivered a mixed performance on Wednesday, with the Dow Jones Industrial Average climbing to a fresh record as investors continued to navigate geopolitical developments, shifting energy markets, and new labour market data.
The 30-stock Dow advanced 120 points, or 0.2%, extending its strong start to 2026 and setting a new all-time high.
The S&P 500 hovered around the flatline for most of the session but still managed to eke out a record close.
In contrast, the tech-heavy Nasdaq Composite slipped 0.1%, reflecting some divergence beneath the surface of the broader market.
US equities are approaching notable psychological milestones.
The S&P 500 is edging closer to the 7,000 level, while the Dow is nearing the 50,000 mark, following three consecutive years of double-digit annual gains.
Most market forecasters expect the rally to continue into 2026, though optimism is tempered by a long list of risks, including trade tensions, geopolitical uncertainty, and signs of a slowing US economy.
Traders remained cautious ahead of additional US economic data due later in the week, which could further shape expectations for growth and monetary policy in early 2026.
The movers on Wednesday
Energy markets were a focal point on Wednesday after crude oil prices dropped sharply following comments from President Donald Trump.
The president said interim authorities in Venezuela would turn over as much as 50 million barrels of oil to the United States, stoking concerns about a potential increase in global oil supply.
While falling crude prices weighed on parts of the energy sector, refiners moved in the opposite direction. Shares of Valero Energy rose about 4%, while Marathon Petroleum gained roughly 2%.
The advance followed media reports suggesting that Venezuelan oil sales could continue indefinitely and that US sanctions would be eased, a backdrop that could benefit refining margins.
More broadly, stocks extended gains from Tuesday’s session, when investors appeared to brush aside concerns surrounding the U.S. attack on Venezuela over the weekend.
Mining stocks were among the session’s weakest performers, as gold and silver prices pulled back alongside broader markets.
Private payrolls rebound, but miss expectations
On the economic front, new data pointed to a modest rebound in private-sector hiring at the end of 2025.
Payrolls processing firm ADP reported Wednesday that companies added 41,000 jobs in December, reversing a loss of 29,000 in November.
While the turnaround marked a positive sign for a labour market that struggled toward year-end, the figure came in below the Dow Jones consensus estimate of 48,000.
Private payrolls had declined in three of the four months leading up to December, underscoring the uneven nature of hiring conditions.
Job growth was concentrated entirely in the services industries. Education and health services added 39,000 positions, while leisure and hospitality contributed 24,000.
Trade, transportation and utilities saw gains of 11,000, and financial services added 6,000 jobs.
Those increases were partially offset by losses elsewhere.
Professional and business services shed 29,000 jobs, information services declined by 12,000, and goods-producing industries lost 3,000 positions, driven largely by a 5,000-job drop in manufacturing.
Nearly all of December’s job gains came from smaller employers. Companies with fewer than 500 workers accounted for the bulk of hiring, while larger firms added just 2,000 positions.
“Small establishments recovered from November job losses with positive end-of-year hiring, even as large employers pulled back,” said ADP chief economist Nela Richardson.
ADP also revised November’s payroll figure to a loss of 29,000 from an initially reported decline of 32,000.
The post US stocks open mixed: Dow Jones hits new high, S&P 500 flat appeared first on Invezz
