US EQUITY OPEN: Stocks open mixed in first trading session of 2026

OPEN: Stocks have opened predominantly in the green on the first trading session of 2026 with upside led by the Nasdaq, while the Dow lags, opening in the red. Sectors are mixed, Tech, Communication and Consumer Discretionary are the clear outperformers - hence the Nasdaq outperformance, while Real Estate, Health Care and Financials lag. It has been a quiet day regarding newsflow with the highlight being the Tesla Q4 delivery and production numbers which missed expectations, albeit the stock held onto gains in the pre-market, but has pared a lot of the gains since the opening bell. In FX, antipodes outperform while CAD lags amid oil pressure. Oil prices have been trending lower all morning despite rising tensions between the US and Iran with focus on oversupply risks while eyes turn to OPEC+ over the weekend, which is expected to reaffirm it production pause through Q1. The yield curve is bear steepening with eyes on next week's US jobs report as well as the potential Fed Chair pick.  

• Tesla (TSLA): Reported Q4 delivery numbers, where deliveries and production fell short of expectations.
• Ironwood Pharmaceuticals (IRWD): Stellar FY26 rev. guidance.
• Baidu (BIDU): Plans to spinoff AI chip unit.
• RH (RH), Wayfair (W), Williams-Sonoma (WSM): Trump decided to delay a 30% tariff hike on upholstered furniture.
• TSMC (TSM): US granted Co. an annual licence to import US chipmaking equipment to its Nanjing plant in China for ‘26