U.S. Stocks Open Higher on Friday; Baidu Stock Surges 11% as Chip Unit Files for IPO

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U.S. Stocks Open Higher on Friday; Baidu Stock Surges 11% as Chip Unit Files for IPO

Tiger Newspress01-02 22:30

US stocks rose Friday, the first trading day of 2026, as tech looked to build on its momentum from last year.

The Dow Jones Industrial Average traded 124 points higher, or 0.3%. The S&P 500 gained 0.6%, and the Nasdaq Composite advanced 1.1%.

Friday’s gain marks a reversal from the first-day trading trend of the last few years. The S&P 500 finished lower on the first day of trading for each of the last three years. Going back to the 1950s, there is no discernible trend, with the first day finishing positive about 48% of the time, according to Bespoke Investment Group.

US-listed Baidu shares jumped 11% after its artificial-intelligence chip unit filed an application to list on the Hong Kong stock exchange. The Chinese internet company is taking advantage of a frenzy of investor interest in domestic AI technology.

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