Stock Market Update

[BRIEFING.COM] The major averages finished mixed today as investors digested another sizable batch of earnings reports and looked ahead to results from several mega-cap tech names later this week. Solid tech leadership helped the S&P 500 (+0.4%) notch fresh record highs, with the Nasdaq Composite (+0.9%) posting an even wider gain. Meanwhile, the DJIA (-0.8%) plotted a course firmly lower as it faced select earnings weakness. The Russell 2000 (+0.3%) managed to capture a slight gain, preventing a third consecutive day of weakness, while the S&P Mid Cap 400 finished flat.

The top-weighted information technology sector (+1.4%) captured the widest gain, with support coming on multiple fronts. 

Mega-cap leadership was solid, with Apple (AAPL 258.27, +2.86, +1.12%) and Microsoft (MSFT 480.58, +10.30, +2.19%) continuing to chart gains ahead of their earnings reports, while NVIDIA (NVDA 188.52, +2.05, +1.10%) joined in on the action amid a rebound in the chipmaker space.  The Vanguard Mega Cap Growth ETF (+0.7%) finished off its session highs but still managed to notch a solid gain for the third consecutive session as momentum returns to the market's weightiest names. 

The PHLX Semiconductor Index (+2.4%) received an additional boost from memory storage names such as Micron (MU 410.24, +21.15, +5.44%) ahead of Seagate Tech's (STX 371.76, +13.47, +3.76%) earnings report after the close. 

Corning (GLW 109.76, +14.81, +15.60%) also traded higher ahead of its earnings release tomorrow morning, though the impressive move was more attributed to a CNBC report that Meta Platforms (META 672.97, +0.61, +0.09%) will pay Corning $6 billion for fiber optic cable in its AI data centers through 2030.

Elsewhere, the utilities sector (+1.3%) made another nice move higher as the U.S. braces for more severe winter weather, with its largest component, NextEra Energy (NEE 87.15, +1.68, +1.97%), posting a solid gain after an EPS beat despite missing on revenues. 

The energy sector (+1.0%) rounds out the three S&P 500 sectors that finished with a gain of 1.0% or wider, supported by crude oil futures settling today's session $1.76 higher (+2.9%) at $62.39 per barrel. 

Gains elsewhere were relatively modest, though sector strength improved throughout the session as breadth figures turned modestly positive this afternoon after spending much of the session mixed. 

The health care sector (-1.7%) was not among the sectors that improved throughout the session, finishing the day with the widest loss by a fairly wide margin. The sector faced sharp retreats in insurance names such as Humana (HUM 207.99, -55.64, -21.11%) and UnitedHealth (UNH 282.69, -68.95, -19.61%) after the Trump administration called for a slight 0.09% net average year-over-year payment increase for Medicare Advantage and Part D policies versus an expected 4-6% increase.

UnitedHealth's weakness, which was exacerbated by weak Q1 guidance, weighed heavily on the DJIA today, sending it lower after entering the session just 0.5% beneath its all-time high level. 

Elsewhere, Brown & Brown (BRO 74.15, -5.47, -6.87%) was another post-earnings laggard in the financials sector (-0.7%), though the sector faced pressure in a majority of its names today after a solid performance yesterday. 

Other notable earnings-related moves include General Motors (GM 86.38, +6.95, +8.75%), Sysco (SYY 83.93, +8.30, +10.98%), Boeing (BA 244.56, -3.88, -1.56%) (which is another Dow component), and American Airlines (AAL 13.55, -1.02, -7.00%). 

All told, this week's busy slate of earnings reports proved to be a key driver of price action today. The mega-caps continue to trade higher in anticipation of their own earnings this week, with Meta Platforms, Microsoft, and Tesla (TSLA 430.91, -4.29, -0.99%) kicking off the "magnificent seven" earnings after the close tomorrow. With the S&P 500 back in record territory, it will be especially important for the mega-caps to deliver on their upcoming earnings releases to maintain momentum. 

Additionally, tomorrow will bring about the January FOMC decision, though this is largely expected to be a nonfactor as the market is not expecting another rate cut for several more cycles. However, the market will be closely tuned to Fed Chair Powell's presser for any signs of shifting sentiments within the Fed. 

U.S. Treasuries had a mixed showing on Tuesday, with 10s and 30s recording modest losses while the 2-year note outperformed after lagging on Monday. Shorter tenors resisted some intraday selling pressure even though today's $70 billion 5-year note auction met weaker demand than yesterday's stellar 2-year note sale. The 2-year note yield settled down two basis points to 3.57%, and the 10-year note yield settled up one basis point to 4.22%. 

• Russell 2000: +7.5% YTD
• S&P Mid Cap 400: +5.4% YTD
• Nasdaq Composite: +2.5% YTD
• DJIA: +2.0% YTD
• S&P 500: +1.9% YTD

Reviewing today's data:

• November FHFA Housing Price Index 0.6% (Briefing.com consensus 0.3%); Prior 0.4%
• November S&P Case-Shiller Home Price Index 1.4% (Briefing.com consensus 1.2%); Prior 1.3%
• January Consumer Confidence 84.5 (Briefing.com consensus 90.0); Prior was revised to 94.2 from 89.1
  • The key takeaway from the report is that consumer concerns about both the present situation and expectations for the future deepened, driving the overall index to a level that was lower than the depths seen during the COVID pandemic.

[BRIEFING.COM] The major averages are little changed from previous levels, sitting mixed shortly before the close. 

Market participants will have a fair share of earnings reports to assess between this afternoon's close and the start of the midweek session. 

Several components of the PHLX Semiconductor Index (+2.7%), including Texas Instruments (TXN 197.25, +0.66, +0.34%) and Seagate Tech (STX 371.69, +13.40, +3.74%), will look to continue to group's hot start to 2026 that took a step back last week after Intel (INTC 43.99, +1.50, +3.53%) saw a sharp retreat following its own earnings report. 

A mixed bag of other companies such as Starbucks (SBUX 95.84, -0.48, -0.50%), Elevance Health (ELV 324.04, -52.89, -14.03%), and GE Vernova (GEV 692.66, +26.66, +4.00%) will also be in the mix. 

[BRIEFING.COM] The S&P 500 (+0.5%), Nasdaq Composite (+1.0%), and DJIA (-0.9%) continue to trade in a stable range as the market enters the final hour of the session. 

Sector strength has improved throughout the afternoon, but significant losses in the health care (-1.7%) and financials (-0.7%) sectors limit further index-level growth. 

While the health care sector's weakness is largely headline-based (the Trump administration putting forward a disappointing Medicare Advantage payment proposal), the financials sector faces a broader pullback across the majority of its components. 

Brown & Brown (BRO 73.64, -5.98, -7.51%) is a notable laggard after a modest EPS beat and revenue miss. 

Meanwhile, regional banking names such as Truist (TFC 50.90, +0.72, +1.42%) are among the relative outperformers, though the gains are modest in comparison. 

[BRIEFING.COM] The S&P 500 (+0.51%) is in second place on Tuesday afternoon, up about 35 points.

Briefly, S&P 500 constituents HCA (HCA 508.27, +35.89, +7.60%), Lam Research (LRCX 238.46, +15.59, +7.00%), and NRG Energy (NRG 155.85, +5.92, +3.95%) dot the top of the standings. HCA rallies after a strong Q4 EPS beat, in-line-to-better FY26 guidance, and a shareholder-friendly capital return package highlighted by a new $10B buyback and dividend, reinforcing confidence in earnings durability and cash flow strength.

Meanwhile, Roper (ROP 358.00, -50.67, -12.40%) is underperforming after its FY26 outlook implied a growth slowdown and revenue shortfall versus Street expectations, triggering valuation de-risking in a premium multiple name and reinforced by a post-earnings downgrade.

[BRIEFING.COM] The tech-heavy Nasdaq Composite (+1.01%) is up about 238 points this afternoon, leading the major averages.

Gold futures settled $0.10 higher (flat) at $5,082.60/oz, as safe-haven demand tied to geopolitical risk, U.S. trade tensions, and fiscal uncertainty continues to offset near-term profit-taking after its recent record run. Structural support from central bank and institutional buying, along with caution ahead of this week's Fed meeting, is keeping prices anchored at elevated levels.

Meanwhile, the U.S. Dollar Index is down about -0.9% to $96.20.