The new year kicked off with markets doing that classic post-holiday shuffle: modest gains, light volume, and everyone trying to figure out if this means anything at all. U.S. stocks opened 2026 with the Dow Jones Industrial Average and S&P 500 edging higher while the Nasdaq Composite lagged behind, marking a rebound from late-December weakness but not exactly screaming conviction.

Chipmakers grabbed the spotlight early, with Nvidia (NVDA) and Micron (MU) leading the charge as AI enthusiasm rolled right into the new year like it never left. But weakness among several megacap technology and consumer discretionary names kept the broader market gains uneven, reminding everyone that not every sector got the memo about celebrating.

Now investors are turning their attention to upcoming economic data and Federal Reserve signals to gauge what's ahead for rates and growth in 2026. With valuations still elevated and liquidity thin, strategists are warning that these early-January moves might not tell us much about where we're headed in the months to come. Fair enough.

Here's a roundup of the week's most compelling bullish and bearish stories worth revisiting.

The Bullish Side

Nike Insiders Put Their Money Where Their Mouth Is

Nike Inc. (NKE) shares climbed nearly 3% after a wave of insider buying that investors interpreted as a strong vote of confidence in the athletic giant's turnaround strategy. With the stock trading around the low $60s, CEO Elliott Hill disclosed an open-market purchase worth roughly $1 million. Not to be outdone, board member and Apple Inc. (AAPL) CEO Tim Cook also increased his stake.

These moves helped lift sentiment despite Nike's recent underperformance and some bearish technical indicators hanging around. When executives start buying with their own money, especially in meaningful amounts, it tends to get people's attention. Whether it signals a genuine turnaround or just optimism remains to be seen, but it's certainly a better signal than watching insiders head for the exits.

SpaceX IPO Could Open the Floodgates

A potential SpaceX IPO in 2026 could be one of the year's biggest market events and might "open the floodgates" for other large private companies to go public, according to market strategist Jay Woods. That's the kind of statement that gets people excited and nervous in equal measure.

The implications for Tesla Inc. (TSLA) are particularly interesting. Woods suggested the IPO could initially prompt some rotation of capital out of Tesla as investors rush to buy SpaceX shares. But ultimately, he sees it as a tailwind for Elon Musk-linked companies by signaling strong demand for high-profile tech listings. It's the classic question: does having two publicly-traded Musk companies cannibalize attention, or does it amplify the overall Musk ecosystem appeal? Probably a bit of both.

Energy Fuels Exceeds Expectations

Energy Fuels Inc. (UUUU) shares climbed after the uranium and critical minerals producer closed out 2025 by exceeding its own guidance and reinforcing its position as a leading U.S. producer. The company delivered robust production results, mining more than 1.6 million pounds of uranium and projecting Q4 sales around 360,000 pounds with approximately $27 million in revenue.

Beyond the numbers, Energy Fuels secured long-term contracts with U.S. utilities, which matters when you're in the business of producing something with a complex and sometimes volatile market. Crushing your guidance is always nice, but having locked-in customers for years to come is the real story here.

Other Bullish Stories Worth Noting

Intel stock has soared since getting kicked out of the Dow, even outrunning Nvidia, the very company that replaced it. There's something poetic about that.

Palantir went from meme stock to market leader in 2025, completing one of the more remarkable transformations in recent tech history.

The "Stranger Things" finale could boost both Netflix and AMC stocks, though the mechanism for how a streaming show helps a theater chain requires some creative thinking.

The Bearish Side

Chinese Tech Stocks Stumble

Alibaba Group Holding Ltd. (BABA), JD.com Inc. (JD), and PDD Holdings Inc. (PDD) all traded lower Monday as thin holiday volume and disappointing Chinese economic data dragged sentiment downward. The pullback in U.S.-listed Chinese tech stocks mirrored weakness in Hong Kong markets, where the Hang Seng and Hang Seng Tech indexes slipped.

Fresh industrial profit figures showed a sharper decline than expected, dampening hopes for an end-of-year rally. When you combine weak economic data with low trading volumes, you get the kind of drift lower that feels inevitable but still frustrating for anyone holding these names.

Biotech Trial Disappointments Hit Hard

Ultragenyx Pharmaceutical Inc. (RARE) and Mereo BioPharma Group plc (MREO) shares plunged to fresh 52-week lows after a late-stage clinical trial of their investigational bone disease therapy failed to meet its primary endpoint. The Phase 3 study did not show a statistically significant improvement over placebo in patients with X-linked hypophosphatemia.

This prompted disappointment among investors and analysts who had anticipated strong results. Clinical trial failures are always brutal in biotech because so much rides on these binary outcomes. When a Phase 3 trial misses, there's usually nowhere to hide.

FDA Setback Sinks Corcept Therapeutics

Corcept Therapeutics Incorporated (CORT) shares slid sharply after the U.S. Food and Drug Administration issued a refuse-to-file letter for its investigational Cushing's syndrome drug relacorilant. The FDA cited deficiencies in the submission that require additional clinical data, which is regulatory speak for "try again."

The setback surprised investors who had been anticipating an early 2026 launch and sent the stock to its lowest levels in months as analysts reassessed the company's near-term regulatory pathway. A refuse-to-file letter isn't a complete rejection, but it definitely resets the timeline and expectations.

Additional Bearish Developments

Trump's moves added to 2025's crypto overload, and now 2026 looks rough according to industry experts navigating regulatory uncertainty.

FuelCell Energy stock slid after hours on news that dampened investor enthusiasm for the alternative energy play.

The top 10 most shorted stocks list includes Lucid, MARA, Hims, and more, a roster that tells you where the bears are placing their bets.

As we head deeper into 2026, the early signals are mixed. Insiders are buying, major IPOs are potentially on the horizon, and some companies are crushing their guidance. But weak economic data from China, clinical trial failures, and regulatory setbacks remind us that not every story has a happy ending. The market, as always, contains multitudes.