US Stock Indexes Close Higher, Cryptocurrency Stocks Dip, MSTR Falls 5.77%

The three major US stock indexes closed higher on January 9, 2026, despite mixed economic data and uncertainty around a Supreme Court ruling on President Donald Trump's global tariffs. The S&P 500 ended marginally higher, adding 0.01 percent. Cryptocurrency stocks, however, fell overall, with MicroStrategy (MSTR) dropping by 5.77 percent.

The S&P 500 saw top gainers such as APA, Texas Pacific Land, and Mohawk Industries, which rose by more than 6 percent. However, losses were also notable, with Seagate Technology, Datadog, and Western Digital each falling by over 5 percent. The Dow Jones Industrial Average and Nasdaq Composite also rose modestly.

The U.S. Supreme Court did not issue a ruling on Friday in a major case testing the legality of President Donald Trump's sweeping global tariffs. The justices issued one ruling on Friday in a criminal case but did not announce any decisions on Trump's tariffs. This delayed ruling adds uncertainty to the economic impact of Trump's trade policies, which have drawn both support and criticism from various stakeholders.

Why Did Cryptocurrency Stocks Fall?

Cryptocurrency stocks experienced broad declines, with MSTR falling 5.77 percent, driven by ongoing concerns over the sustainability of its Bitcoin treasury strategy. MSTR narrowly avoided a potential exclusion from MSCI indexes, which initially supported its shares by 7 percent. However, the company reported an unrealized loss of $17.44 billion in Q4 2025, as Bitcoin prices declined by 25 percent.

The MSCI decision not to exclude digital asset treasury companies from its indexes was a temporary relief for MSTR investors. The company's shares surged by 2.5 percent following the announcement. Nonetheless, the company faces financial challenges, including high volatility and operational inefficiencies.

How Did Markets React to Mixed Economic Data?

Market participants responded cautiously to mixed US jobs data. The US economy added 50,000 jobs in December, below expectations, but the unemployment rate fell to 4.4 percent. Analysts noted that low unemployment tempered concerns about a sharp slowdown in consumer spending and the broader economy. However, the data also indicated that the Federal Reserve may not cut interest rates in the near term, adding to market uncertainty.

Despite the mixed data, Wall Street's major indices opened higher, with the blue-chip Dow adding 0.2 percent. Analysts observed that the "goldilocks" scenario of a slowing economy without a recession continues to support stock markets. However, investors remain cautious about the potential impact of a possible Supreme Court ruling on Trump's tariffs, which could have significant economic and fiscal implications.

What Are Analysts Watching Next?

Analysts and investors are closely monitoring the Supreme Court's potential ruling on Trump's tariffs. A decision against the government could disrupt its economic and fiscal plans, even if tariffs are re-imposed through other means. The bond market is expected to be a key indicator of the ruling's near-term impact, as analysts noted.

Investors are also watching for further developments in the cryptocurrency sector. MSTR's stock performance will be closely linked to Bitcoin prices, with analysts setting an average price target of $486.29 for the stock. Despite the volatility, analysts remain cautiously optimistic about the company's long-term prospects, with 13 of 16 analysts recommending a "Strong Buy".

Overall, the market environment remains mixed, with optimism for the tech and defense sectors offset by concerns over cryptocurrency volatility and potential regulatory changes. Investors are advised to monitor key economic indicators and regulatory developments for further guidance.