1. On January 8th (Wednesday), U.S. stock index futures fell before the market opened. At the time of publication, Dow futures were down 0.02%, S&P 500 futures were down 0.12%, and Nasdaq futures were down 0.17%.
Insiders say Trump is considering declaring a national economic emergency to introduce a new tariff plan. Four insiders indicated that Trump is contemplating declaring a national economic emergency to provide a legal basis for imposing widespread tariffs. This declaration would allow Trump to utilize the International Economic Emergency Powers Act to create a new tariff plan, which grants the president unilateral authority to manage imports during a national emergency. One source noted that Trump favors this law because it gives broad jurisdiction over how to implement tariffs without strict requirements to prove that the tariffs are for national security reasons. Trump's transition team did not respond to a request for comment.
The U.S. stock market will be closed on January 9th in honor of Jimmy Carter. In memory of the 39th President of the United States, Jimmy Carter, the stock market will be closed on January 9th. Carter passed away at home on December 29th at the age of 100. President Biden announced January 9th as a national day of mourning. A state funeral for President Carter will also be held that day at the Washington National Cathedral in Washington, D.C. The New York Stock Exchange and Nasdaq will be closed that day to pay tribute to President Carter.
