Stock Market Live January 9: Job Gains Disappoint, S&P 500 (VOO) Rises Anyway
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BLS reports the U.S. gained only 50,000 jobs in December, on par with average monthly job gains for 2025.
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The Supreme Court may rule on the legality of President Trump’s tariffs today.
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Micron Marching Higher
Micron (Nasdaq: MU) stock is up 4% in the afternoon after Mizuho analyst Vijay Rakesh raised his price target to $390 with an outperform rating.
Mizuho is preparing its 2026 outlook for semiconductor stocks, and sees “attractive valuations” in the group, with AI accelerators, wafer fab equipment, optical, and memory stocks like Micron as especially attractive.
Tilray Loses Money, Tilray Stock Rises
Marijuana stock Tilray (Nasdaq: TLRY) beat on revenue last night, reporting fiscal Q2 2026 sales of $217.5 million versus $211.2 million expected. Earnings were precisely as analysts forecast: a loss of $0.02 per share.
CEO Irwin Simon played up the revenue beat, crowing: “We achieved another record quarter with net revenue reaching $218 million, a result of disciplined execution within our diversified portfolio spanning cannabis, beverage, wellness and distribution sectors.” But Alliance Global analyst Aaron Grey was not impressed and cut his price target on Tilray stock in half, to $10 per share.
Investors seem okay with that. The stock is up nearly 3% this morning at $9 and change.
The Vanguard S&P 500 ETF is unchanged from earlier in the day, still up 0.3%.
WD-40 Slips and Falls
Lubricants company WD-40 Co. (Nasdaq: WDFC) missed earnings by 17 cents last night, reporting fiscal Q1 2026 earnings per share of $1.28 on sales of only $154.4 million — worse than the expected $161.2 million.
Adding to the bad news, WD-40 warned that full fiscal year earnings will range from $5.75 to $6.15, versus a consensus of $6.08. Revenue will range from $630 million to $655 million, versus a consensus of $649.3 million.
Investors aren’t happy with the earnings, or the guidance, and WD-40 stock is down more than 8%.
This article will be updated throughout the day, so check back often for more daily updates.
The U.S. Bureau of Labor Statistics announced this morning that nonfarm payrolls rose a seasonally adjusted 50,000 in December. This was less than the 56,000 jobs gained in November, and less than the 73,000 jobs economists had predicted, indicating a weakening economy — that just might be ripe for more interest rate cuts by the Federal Reserve.
Investors seem happy to hear the bad news, and the Vanguard S&P 500 ETF (NYSEMKT: VOO) gained 0.3% in early morning trading.
Unemployment fell to 4.4%, better than the expected 4.5%. BLS also revised its estimate of job losses for October. Previously estimated at 105,000, the agency now believes the U.S. lost 173,000 jobs that month.
All told for the year, BLS says the U.S. averaged monthly jobs growth of 49,000 in 2025 — exceptionally weak.
Tariffs news
The next big economic news will come, strangely, not from BLS or the U.S. Department of Labor, but from the U.S. Supreme Court.
The Court is considering a case challenging President Trump’s power to unilaterally impose trade tariffs on foreign countries based on supposed threats to national security (the International Emergency Economic Powers Act). U.S. Treasury Department data shows that the country collected $195 billion in tariffs under this Act in 2025, and $62 billion more already in 2026. If the Court rules against the President, then this money may need to be repaid (but to whom?)
A decision may come as early as today.
[select fisher pitch]
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