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The S&P 500 has ended lower, pulled down by declines in JPMorgan, Blackstone and other financials, while Nvidia and Alphabet lifted the Nasdaq as investors shifted towards AI-related stocks.

The drop in the S&P 500 followed an intraday record high earlier in the session on Wednesday.

Shares of housing acquisition companies tumbled after President Donald Trump said he was moving to ⁠ban Wall Street investors from buying single-family homes in a bid to reduce home prices. Real estate platform Zillow moved higher.

Fed rate cut on the cards

The Dow Jones Industrial Average fell 472.60 points, or 0.96 per cent, to 48,999.39. Data on Wednesday showed US job openings fell more than expected in November after rising marginally in October, while a separate ADP report showed that private payrolls increased less than expected in December.

While the latest labour market datasets mark a return to the standard release of economic data disrupted by the US government shutdown, they did little to change expectations of interest rate cuts from the Federal Reserve ahead of Friday’s key government payrolls report.

Investors were also monitoring geopolitical developments after the US said it seized a Russian-flagged, Venezuela-linked tanker as part of Trump’s aggressive push to dictate oil flows in the Americas and force Caracas’ socialist government to become its ally.

Investors return to AI stocks, defence sector under scrutiny

Major defence groups Northrop Grumman and Lockheed Martin lost ground after Trump said he would not permit dividends or stock buybacks for defence companies until they fixed problems with the production of military equipment.

Nvidia, Microsoft and Alphabet rose as investors shifted back into AI stocks following recent worries they were overvalued. Underscoring investor appetite for heavyweight AI players, Anthropic is planning a multibillion-dollar fundraising that would value the Claude chatbot maker at $US350 billion.

That would make the privately held company more valuable than the vast majority of corporations, including Advanced Micro Devices, Chevron and Wells Fargo.

MAUMEE, Ohio, Jan. 7, 2026 /PRNewswire/ — Dana Incorporated (NYSE: DAN) will host a webcast and conference call on Wednesday, January 21, 2026, at 10 a.m. EST. The discussion will cover the company’s market outlook, new business growth, capital return strategy, and preliminary 2025 results.

Dana’s Chairman and Chief Executive Officer R. Bruce McDonald and Senior Vice President and Chief Financial Officer Timothy Kraus, along with other members of the management team, will provide insights on these topics and address questions from covering analysts.

The conference call can be accessed by telephone from both domestic and international locations using the information provided below:

Conference ID: 9943139
Participant Toll-Free Dial-In Number: 1 (888) 440-5873
Participant Toll Dial-In Number: 1 (646) 960-0319

Audio streaming and slides will be available online via a link provided on the Dana investor website: www.dana.com/investors. 

A webcast replay can be accessed via Dana’s investor website following the call.

About Dana Incorporated
Dana is a leader in the design and manufacture of highly efficient propulsion and energy-management solutions that power vehicles and machines in all mobility markets across the globe. The company is shaping sustainable progress through its conventional and clean-energy solutions that support nearly every vehicle manufacturer with drive and motion systems; electrodynamic technologies, including software and controls; and thermal, sealing, and digital solutions.

Based in Maumee, Ohio, USA, the company reported sales of approximately $7.7 billion in 2024 with 28,000 people in 24 countries across six continents. With a history dating to 1904, Dana was named among the “World’s Most Ethical Companies” for 2025 by Ethisphere and as one of “America’s Most Responsible Companies 2025” by Newsweek. The company is driven by a high-performance culture that focuses on valuing others, inspiring innovation, growing responsibly, and winning together, earning it global recognition as a top employer. Learn more at dana.com.

SOURCE Dana Incorporated