Friday, Jan 9, 2026, is shaping up to be one of the most volatile trading days of the year. Two potential Black Swan level events are lined up back-to-back, and they could send stocks, bonds, and the U.S. dollar into a frenzy.
👀 Here’s what everyone needs to watch closely:
📉 1️⃣ December Jobs Report (8:30 AM ET)
Wall Street is bracing for the Non-Farm Payrolls, with expectations around +70K jobs. Any major surprise higher or lower will instantly shift Federal Reserve rate expectations.
🔻 A weak report could raise recession fears
🔺 A strong report could crush hopes for near-term rate cuts
⚖️ 2️⃣ Supreme Court Tariff Ruling
This is the real market mover. The Supreme Court is expected to rule on the legality of the administration’s emergency tariff powers.
🔻 If tariffs are upheld:
• Inflation pressure stays high
• U.S. dollar strengthens
• Risk assets may struggle
🔺 If tariffs are struck down:
• Relief rally in equities
• Softer inflation outlook
• Faster shift in Fed policy expectations
📌 Bottom line:
With the S&P 500 hovering near 6,920, the market is coiled like a spring. A breakout to new highs or a sharp correction will depend entirely on these two headlines.
⚠️ Volatility isn’t a risk tomorrow it’s the main event.
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