Market Recap: S&P 500 Futures Drop 0.41% as JPMorgan Warns on Stablecoin Risks; WTI Crude Surges 2.5% Amid Energy Rally

The U.S. market closed mixed on January 13, 2026, as energy stocks surged alongside a rebound in crude oil prices, while tech and financial sectors faced headwinds. E-Mini S&P 500 Futures fell 29.00 points (-0.41%) to $6,987.5, E-Mini Dow Jones Industrial Average Futures plummeted 477.00 points (-0.96%) to $49,332.0, and E-Mini Nasdaq 100 Futures declined 103.25 points (-0.40%) to $25,853.5. Commodities saw divergent moves: WTI crude oil jumped 2.495% to $60.80, while gold and copper retreated. Sector-wise, energy (+1.69%) and consumer staples (+0.90%) led gains, while financials (-1.35%) and tech (-0.45%) lagged. The day’s trading reflected a tug-of-war between energy optimism and tech sector caution.

Hot Stocks

Tech Giants:

• Moderna (MRNA): +16.52%
• Advanced Micro Devices (AMD): +7.18%
• Intel (INTC): +6.92%
• Alphabet C (GOOG): +0.91%
• Nvidia (NVDA): -0.04%
• Apple (AAPL): -0.32%
• Tesla (TSLA): -0.36%
• Amazon.com (AMZN): -1.74%
• Microsoft (MSFT): -1.88%
• Meta (META): -2.05%

Energy & Materials:

• Cenovus Energy (CVE): +5.74%
• Korea Electric Power (KEP): +7.64%

Chinese ADRs:

• 111 (YI): +40.82%
• Jiade (JDZG): +34.04%

Speculative Movers:

• Beyond Air (XAIR): +162.10%
• Ambitions Enterprise (AHMA): +130.73%

Macro & Corporate Narratives

JPMorgan Warns on Stablecoin Yield Risks

JPMorgan CFO Jeremy Barnum criticized stablecoin yield programs as "dangerous and undesirable," warning they could create an unregulated parallel banking system. The Senate Banking Committee’s draft crypto legislation, which restricts yield offerings unless tied to staking, intensified regulatory concerns. This fueled caution in fintech and crypto-related assets.

Tech Sector Sell-Off Accelerates

A wave of downgrades hit enterprise software stocks. Salesforce (CRM) plummeted 6.3%, Asana (ASAN) fell 7.5%, and DocuSign (DOCU) dropped 5.6% as analysts questioned AI-driven growth. Adobe’s AI tools and Snowflake’s competitive pressures triggered a broader rotation out of high-valuation tech stocks into defense and energy.

Goldman Sachs Assesses AI’s Job Impact

Goldman Sachs estimated AI could displace 6-7% of jobs over time but emphasized historical precedents where technological shifts created new roles. The report tempered fears of a "job apocalypse," noting 6 million new computer-related jobs emerged in the U.S. since the 1980s.

Defense Budget Boosts Industrial Stocks

President Trump’s $1.5 trillion 2027 defense budget proposal sent defense contractors surging: Northrop Grumman (+10.1%) and Lockheed Martin (+7.9%). This offset tech sector weakness and supported the S&P 500’s flat performance despite Nasdaq’s decline.

Energy Rally Driven by Crude Rebound

WTI crude’s 2.5% gain lifted energy stocks, with the sector up 1.69%. Cenovus Energy and Korea Electric Power led energy gains, while broader market rotation into cyclical sectors reflected optimism about inflation moderation and rate cut expectations.