The S&P 500 index shed 1% last week as the market benchmark transitioned to 2026 following its third consecutive year of double-digit percentage gains.
The S&P 500 ended up 0.2% in its first trading session of the new year but down from last week’s close.
The index locked in a 16% gain for 2025 on Wednesday. Trading was closed on Thursday for New Year’s Day.
The index edged down 0.05% in December but still added 2.3% in Q4, marking its third consecutive quarter of gains.
The consumer discretionary sector had the largest percentage loss of the week, falling 3.2%, followed by a 1.5% drop in technology and a 1.3% decline in financials. Consumer staples, communication services, real estate, health care, and materials also edged lower.
However, three sectors posted weekly gains: Energy climbed 3.3%, followed by a 0.9% increase in utilities and a 0.5% rise in industrials.
This week’s economic data will include December automotive sales as well as the Institute for Supply Management’s December manufacturing index on Monday. The Institute for Supply Management will also release its December services index on Wednesday. Finally, the government’s closely followed December employment report will be released on Friday.
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