January 9, 2026

Markets:

Stock futures were near flat Friday night ahead of a key jobs report and a potential U.S. Supreme Court ruling on tariffs.

Investors are awaiting two key catalysts. First, the Supreme Court could issue a ruling on the legality of President Donald Trump’s tariffs, which could have an impact on trade policy and the nation’s fiscal situation.

Second, the December jobs report will be out at 8:30 a.m. ET, and it’s expected to show modest improvement. Nonfarm payrolls likely grew by 73,000 last month, while the unemployment rate inched down to 4.5%, according to economists polled by Dow Jones.

Separately, investors will watch for developments on Trump’s directive “to his Representatives” to buy $200 billion in mortgage bonds, which he claimed will drive rates and monthly payments down.

Stocks remain on track for a winning week. The S&P 500 is up about 0.9% week to date, while the Dow and Nasdaq have jumped roughly 1.8% and 1.1%, respectively.

Portfolio:

The year is off to a strong start as we head into the final trading session of the week holding setups in SERV and SKYT.

Key levels to watch:

SPY: 689, 685 (support), 694 (resistance)

SPX: 6900 (support), 6955 and 6974 (resistance)

These are the levels that matter—everything else is noise.

Today’s narrative will revolve around the data and the potential tariff ruling. Understand this clearly: none of it changes the broader trend or theme. Any short-term downside should be viewed as opportunity, not threat.

Stay patient. Tune out the distractions. Be ready.