Ladenburg Thalmann Asset Management CEO Phil Blancato:

SOUNDBITE: LADENBURG THALMANN ASSET MANAGEMENT CEO PHIL BLANCATO (ENGLISH) SAYING:

"A little bit of spill over for the first and second days. We're seeing lower volumes. I wouldn't put a lot of credence into this just yet. Let's see what happens starting Monday and the two weeks after that. We start to get the real girth of the market and where it goes from here."

Chip stocks like Advanced Micro Devices and Micron Technology were among the biggest gainers on the day.

The chips were up in Vegas as well. Las Vegas Sands, Wynn Resorts and other casino stocks started the year on a roll. Gross gaming revenue in Macau fell less than expected in December.

Tesla zoomed higher. Canaccord Genuity raised its price target on the shares of the electric car maker.

Hanesbrands slipped. Wells Fargo downgraded the underwear maker's shares to "underweight" from "overweight."