Jan 9 26

 Markets:

Futures are modestly higher pre-market:

• QQQ +0.2%

• SPY +0.2%

• IWM +0.4%

Rates & economy:

• 10-year Treasury at 4.18%, capped in a 4–4.2% range for months

• Unemployment fell to 4.4%

• Job creation came in below expectations (~50k)

• Wage growth steady at 0.3% MoM, 3.8% YoY

• Average workweek fell, signaling employer caution

Rate cut outlook:
Weaker job growth increases expectations for rate cuts in 2025.

Stocks in focus:

• Oklo & Vistra surged on power deals with Meta

• Intel rose on favorable Trump comments

• Rocket (RKT) jumped ~5% on Trump’s proposal to boost mortgage purchases

Housing & policy:
Proposal to use Fannie/Freddie cash to lower mortgage rates; potential ~65 bps reduction in 30-year rates.

Earnings ahead:
JPM, Delta, Citi, Taiwan Semi, Morgan Stanley reporting next week.

Regulation:
SEC may raise “small entity” AUM threshold from $25M to $1B, easing compliance for RIAs.