Stock Market Live January 7, 2026: S&P 500 (SPY) Flat After Testing Fresh Highs
Quick Read
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Oil continues to drop, with crude now at $56.92. Venezuela will reportedly give up to 50 million barrels of oil to the U.S. on news.
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Shares of Nvidia are set for another positive open after CEO Jensen Huang said there’s “very high” demand for its H200 AI chips.
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UBS reiterated its $150,000 target for this year for Bitcoin. It sees Bitcoin rallying to $200,000 by 2027.
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Live Updates
Palantir (PLTR) Just Exploded Higher
Shares of PLTR are up more than $3 a share.
Not only did it just break above its 50-day moving average to the upside, but it’s also still running on a Truist upgrade to a buy rating.
The firm notes that “GenAI adoption could ‘compress the market impact’ of the last four decades of enterprise technology into just the next five to ten years,” says Tip Ranks. With that, the firm believes Palantir holds a “unique market position,” one that is “ideally positioned for increased AI adoption by both governments & enterprises.”
Nvidia Up Another $3.40 a Share
Shares of Nvidia are up another $3.40 a share this morning.
For one, as we note below, CEO Jensen Huang said there’s “very high” demand for its H200 AI chips. He also said any H200 sales would be on top of the company’s $500 billion two-year forecast that it shared last year. Two, NVDA just announced the launch of its next-generation Vera Rubin superchip at CES 2026.
Analysts at Citi reiterated a buy rating on the stock with a $270 price target following NVDA’s CES presentation. As noted by Investing.com, the meetings at CES surprised the firm positively.
Micron Could Test $400 a Share
Over the last few days, shares of Micron (NASDAQ: MU) raced about $43 higher.
Yesterday alone, MU was up $31.28 a share, or 10%. Now, analysts at UBS say the tech giant could test new highs thanks to strong demand for memory in AI.
The firm reiterated its buy rating on MU with a price target of $400.
“We still believe investors are underappreciating the degree to which AI has fundamentally made memory ([dynamic random-access memory] in particular) a more strategic asset,” they said, as quoted by CNBC. “Severe supply shortages supportive of an ‘extended and durable’ memory upcycle.”
Futures are little changed this morning after the S&P 500 tested fresh highs.
At the moment, S&P 500 futures are up about a point. The SPDR S&P 500 ETF (SPY) is up a fraction of a point. The Dow Jones is up about 66, as the tech-heavy Nasdaq slips 30. Gold is down about $35 to $4,450. Silver is down about $3.40 to $77.64.
Meanwhile, oil continues to drop, with crude now at $56.92.
All on news Venezuela will give up to 50 million barrels of oil to the U.S. This comes just days after U.S. forces captured Nicolas Maduro and his wife in Caracas.
Nvidia Racing Higher on “Very High” Demand
Shares of Nvidia (NASDAQ: NVDA | NVDA Price Prediction) are set for another positive open.
Fueling upside, CEO Jensen Huang said there’s “very high” demand for its H200 AI chips. He also said any H200 sales would be on top of the company’s $500 billion two-year forecast that it shared last year.
Plus, as we noted yesterday, NVDA just announced the launch of its next-generation Vera Rubin superchip at CES 2026, “comprising six new chips designed to deliver one incredible AI supercomputer. NVIDIA Rubin sets a new standard for building, deploying, and securing the world’s largest and most advanced AI systems at the lowest cost to accelerate mainstream AI adoption,” as noted by Nvidia.”
Bank of America has a buy rating on Nvidia, too.
Bitcoin Still Struggling, But May Have Bottomed Out
Over the last few weeks, Bitcoin took a massive hit.
In fact, since November, it dropped from about $107,489 to a low of about $83.462. Today, it’s back to $91,893 and is starting to see an increase in inflow into ETFs. Roughly $1.2 billion flowed back into spot Bitcoin ETFs over the first two trading days of 2026, as investor demand regains momentum.
While the digital currency is down this morning, analysts at Bernstein say the digital assets market has bottomed. In fact, as quoted by Yahoo Finance, “’We believe with reasonable confidence that bitcoin and broader digital asset markets have bottomed,” analyst Gautam Chhugani and his team wrote.”
The firm reiterated its $150,000 target for this year for Bitcoin. It sees Bitcoin rallying to $200,000 by 2027.
While we can always jump into Bitcoin, MARA Holdings (NASDAQ: MARA), Riot Platforms (NASDAQ: RIOT), or even Strategy (NASDAQ: MSTR) on that forecast, we can indirectly invest in Bitcoin and collect dividends along the way.
Look at the Grayscale Bitcoin Covered Call ETF (BTCC)
With an expense ratio of 0.66%, a 30-day yield of 3.24%, and a distribution rate of 59.36%, the Grayscale Bitcoin Covered Call ETF (BTCC) generates income through covered call writing on Bitcoin exchange-traded products (BTPs). The fund does not directly invest in digital assets. In addition, the ETF distributes dividends twice per month. Most recently, the BTCC ETF paid a dividend of just over 53 cents a share on December 30.
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