Wall Street Mid-Session Caution: Tech Surge Offsets Tesla’s Q4 Slump as PMI Data Meets Expectations
- Market Pulse: Tech Lifts Nasdaq Amid Tesla’s Delivery Woes
- Economic Checkpoint: PMI Holds Steady
- Corporate Spotlight: Baidu to Spin Off AI Chip Unit
- Dividend Alert: J&J’s Q1 2026 Payout
- EV Update: Rivian’s Production Reality
- Deal Watch: Travelers Sells Canadian Arm
- FAQ Section
U.S. indices showed mixed performance at mid-session on January 3, 2026, with tech stocks like Nvidia leading gains while Tesla reported disappointing Q4 2025 delivery figures. The S&P Global Manufacturing PMI held steady at 51.8, aligning with forecasts. Key movers included Baidu’s IPO plans for its AI chip unit, Baker Hughes’ $344.5M joint venture, and Rivian’s production update. Travelers Companies finalized a $2.4B Canadian asset sale. Markets remain cautiously optimistic amid sectoral rotations.
Market Pulse: Tech Lifts Nasdaq Amid Tesla’s Delivery Woes
As of 14:30 EST, the Nasdaq Composite dipped 0.31% to 23,169, while the Dow Jones edged up 0.12% to 48,121. Nvidia (+2.1%) benefited from Asian tech tailwinds, but Tesla (-1.43% to $443.34) dragged after reporting Q4 2025 deliveries of 418,227 vehicles—an 18.5% YoY drop. "Tesla’s demand slowdown isn’t shocking, but the magnitude hurts sentiment," noted BTCC analyst James Li. Production fell 5.5% quarterly to 434,358 units.
Economic Checkpoint: PMI Holds Steady
December’s Manufacturing PMI (51.8) eased slightly from November’s 52.2 but matched consensus. "The data suggests stable factory activity, though supply chain hiccups persist," said TradingView’s Mark Richardson. Copper futures ROSE 0.8% on the news.
Corporate Spotlight: Baidu to Spin Off AI Chip Unit
Baidu filed for Kunlunxin’s Hong Kong IPO on January 1, aiming to capitalize on China’s semiconductor push. No pricing details were disclosed, but sources suggest a $5B valuation. Meanwhile, Baker Hughes closed its $344.5M surface pressure control JV with Cactus (65/35 split).
Dividend Alert: J&J’s Q1 2026 Payout
Johnson & Johnson declared a $1.30/share quarterly dividend (record date: February 24, 2026). The stock edged up 0.3% pre-announcement.
EV Update: Rivian’s Production Reality
Rivian produced 10,974 vehicles in Q4 2025 (+12% QoQ) but delivered just 9,745. Annual production hit 42,284 units—below its 50K target. "Scaling challenges are evident," observed MotorTrend’s Sarah Chen.
Deal Watch: Travelers Sells Canadian Arm
Travelers Companies offloaded its Canadian personal/commercial insurance units to Definity Financial for $2.4B. The deal boosts Definity’s market share to ~9%.
FAQ Section
Why did Tesla’s deliveries drop in Q4 2025?
Tesla cited softening demand in Europe and production delays at its Berlin gigafactory. Inventory rose to 16,113 vehicles—a 3-month high.
What’s next for Baidu’s AI chip IPO?
Kunlunxin plans to list by Q2 2026. Proceeds will fund R&D for next-gen 3nm chips.
