The US stock market opened the new year on a positive note, with the S&P 500 and Nasdaq composite indices rising 0.64% and 0.69%, respectively. The Dow Jones Industrial Average led the gains, surging 1.23% as investors returned from the holiday season with a bullish attitude. Overall, the market’s upbeat tone was driven by a sector rotation, with energy, financials, and consumer discretionary stocks outperforming the broader market.

In terms of sector performance, energy was the top performer, jumping 2.7% as oil prices continued their upward momentum. Financials and consumer discretionary stocks also saw significant gains, rising 2.2% and 1.6%, respectively. On the other hand, healthcare, consumer staples, and utilities lagged behind, declining 0.3%, 0.4%, and 1.1%, respectively. Among individual stocks, Chevron (CVX) was a notable mover, surging 5.1% on strong momentum. Conversely, AbbVie (ABBV) slid 4.0% as sellers took control, while Thermo Fisher Scientific (TMO) rose 3.2% on continued optimism.