The US stock market opened the new year on a positive note, with all major indices trending upwards. The S&P 500 index rose 0.62%, the Nasdaq composite gained 0.65%, and the Dow Jones Industrial Average surged 0.99%. The overall sentiment remained bullish, with investors optimistic about the prospects of the new year. The market’s momentum was driven by a sector rotation, with Materials and Healthcare leading the pack, while Technology also showed significant gains.

In terms of sector performance, Materials and Healthcare emerged as the top gainers, with both sectors rising 2.0%. Technology also made significant strides, growing 1.4%. On the other hand, Consumer Staples and Communication Services lagged behind, with the former gaining only 0.2% and the latter declining 0.4%. Energy was the biggest loser, dropping 2.7%. Among individual stocks, Chevron’s CVX slid 4.5% as sellers took control, while Accenture’s ACN jumped 4.5% on strong momentum. Tesla’s TSLA also faced selling pressure, falling 4.1%. Overall, the market’s performance was driven by a mix of sector rotation and individual stock movements.