CNBC Business News Update - Market Close: Stocks Higher, S&P 500 Index Hits New Record High, Oil Executives At White House On Venezuela 1/9/26

Episode Date: January 9, 2026

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I'm Jessica Edinger, CNBC. Wall Street opens Monday morning after a winning week for stocks and a winning Friday for the major averages with a record high for the S&P 500 index. Let's start with the Dow on Friday up 237 points, a half percent. Shares of Home Depot let it higher. They were up 4%. The S&P 500 index up 44. The NASDAQ added 191 points.

Shares of Nvidia on Friday down a tenth of a percent. Companies. whose shares hit fresh all-time highs on Friday include Google Parent Alphabet, Marriott, Ross Dress for Less, T.J. Max and Marshall's parent T.J.X. Companies plus L3 Harris, Lockheed Martin, and Applied Materials. President Trump with a Friday afternoon meeting at the White House to pitch big oil executives on Venezuela, making the case to get them to go in and rebuild Venezuela's oil production, but there are some issues. Venezuela's oil. Venezuela is extremely cheap. what they call at the wellhead, to actually just take oil out of the ground, because Venezuela is an

impoverished nation, would be inexpensive. But the R.OIC return invested capital, the $58, 59 a barrel for WTI, is that margin opportunity worth the risk and investment? To get five or $700,000 more barrels a day out of Venezuela is going to cost billions of dollars not just to get going, but to maintain. I think that's going to be the natural tension, that pricing perspective. CNBC's Brian Sullivan at the White House. Mortgage rates hit a three-year low on Friday. The average rate on the popular 30-year fixed mortgage dropped sharply. 22 basis points to 5.99%.

And it hasn't been that low since the start of February 2023, according to Mortgage News Daily. Now, this came after President Trump posted on social media late yesterday that he is instructing mortgage giants, Fannie Mae and Freddie Mac, to buy $200 billion. worth of mortgage-backed bonds. So we still don't have any idea when and how this bond buying will actually happen. CNBC's Diana Oleg. The Supreme Court has not yet ruled on the legality of President Trump's tariffs. Many thought that ruling would come Friday, perhaps in the coming week. Fewer jobs than expected were created last month at 50,000. And the U.S. just put 2025 in the books as the worst year for job creation in two decades. But for December, the unemployment,

rate ticked lower. The unemployment rate, 4.4. 4.4. If we look at the labor force participation rate, and we really want that to expand a bit, it didn't. Unfortunately, our last look was a bit better. CNBC's Rick Santelli. Here's Newveen's Sarah Malick on CNBC. What we're seeing is labor markets are just normalizing at a healthy rate. And if we can continue on this path, and I think that we can because government payrolls will have less of an impact on the negative side in 2026, then that tells us that the economy is fine. We have fourth-border earning season right in front of us. One more take from Yale law professor Natasha Sarin on CNBC. The labor market is continuing to cool, and that is the case with the 50,000 number. And in the Jolt's data

that we saw earlier this week, we are continuing to be in this sort of like low hire, low-fire economy. And even with a relatively low unemployment rate, you aren't seeing hiring in the economy. And I think has to do with the fact that there's just a lot of uncertainty right now. On the coming week's watch list, we get the latest on inflation on Tuesday with the December CPI Consumer Price Index Report and earnings season also begins in the coming week. We get quarterly results from big banks like J.P. Morgan and City also on Tuesday. Jessica Eddinger, CNBC. CNBC Live ambitiously.