Thursday, January 29th, 2026
Major U.S. stock indexes experienced fluctuations, with the tech-heavy Nasdaq falling by 2.5% before recovering slightly. The Dow Jones Industrial Average closed up 55 points, or 0.11%, while the S&P 500 saw a minor decline of 0.13%. The Nasdaq ended down 172 points, or 0.72%, and the Russell 2000 gained 1 point. The significant factor driving these movements was Microsoft’s stock, which suffered the second-largest market-cap loss in a single day, erasing $430 billion amidst concerns over AI spending and its exposure to OpenAI.
In earnings news, Apple reported fiscal Q3 earnings of $2.84 per share, exceeding the Zacks consensus estimate of $2.65, with revenues of $143.76 billion, a 16% increase year-over-year. In contrast, Visa reported earnings of $3.17 per share, a slight beat over expectations, but saw its shares decline by 1.8% amid concerns over potential credit card rate caps suggested by former President Trump. SanDisk delivered impressive results with earnings of $6.20 per share, far surpassing the anticipated $3.54, alongside a revenue increase to $3.03 billion and guidance of $12-14 per share for the next quarter.
