Dow Headed for 3rd-Straight Weekly Loss, February Gain

• The S&P 500 failed to hold above 7,000 this week, pulling back after the Fed's rate decision and Microsoft's warning about slower growth, triggering triple-digit drops in the Nasdaq
• Major tech companies reported earnings with mixed results: Meta and Apple delivered, while Microsoft disappointed with growth concerns, and various tech deals included IonQ's $1.8 billion acquisition of SkyWater Technology
• Despite weekly losses for the Dow, all three major indexes (Dow, Nasdaq, S&P 500) remained on track for monthly gains, with important jobs data and additional earnings from Amazon, Disney, Uber, and others expected in the coming week

Market Summary: Dow Eyes Third Weekly Decline Despite Monthly Gains

Market Performance:

The Dow Jones Industrial Average was heading for its third consecutive weekly loss on January 30, 2026, though still positioned for its ninth straight monthly gain. The S&P 500 failed to hold above the 7,000 level during the week, while both the Nasdaq and S&P 500 remained on track for monthly gains despite volatility.

Key Market Drivers:

The Federal Reserve maintained interest rates in the 3.5%-3.75% range, contributing to Wednesday's market pullback. Markets faced additional headwinds from a looming partial government shutdown after Senate Democrats blocked funding legislation following the killing of Alex Pretti. Hotter-than-expected economic data on Friday added to selling pressure.

Major Earnings Highlights:

• Tech Sector: Microsoft (MSFT) issued warnings that triggered a triple-digit Nasdaq drop. Meta Platforms (META) and Apple (AAPL) also reported. UnitedHealth (UNH) weighed heavily on the Dow.
• Notable Deals: AppLovin (APP) secured significant gains; IonQ (IONQ) acquired SkyWater Technology (SKYT) for $1.8 billion; Meta signed a multi-year deal with Corning (GLW).
• Mixed Results: General Motors (GM) stock rallied, while American Express (AXP) disappointed with a profit miss. Caterpillar (CAT) and Nextpower (NXT) enjoyed positive momentum.

Looking Ahead:

February brings crucial jobs data and additional earnings from major companies including Amazon (AMZN), Eli Lilly (LLY), PayPal (PYPL), PepsiCo (PEP), Pfizer (PFE), Qualcomm (QCOM), Uber (UBER), and Disney (DIS). The Russell 2000 Index faces potential near-term volatility.