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Wall Street's main indexes closed lower on Friday as investors viewed President Donald Trump's nomination of former Federal Reserve Governor Kevin Warsh as a hawkish choice to succeed Federal Reserve Chair ​Jerome Powell, while also digesting earnings reports and a high inflation reading.

On top of assessing the risks from U.S. tensions with countries including Iran, investors were also worried about ‌the prospect of another U.S. government shutdown after new barriers emerged in the Senate to a deal that would ensure continuation of funding for agency operations.

At the Fed, Warsh, 55, is expected to favor lower interest rates but stop short of the more aggressive monetary easing linked to some other potential nominees. With Powell's term ending in May, Warsh, if confirmed by the Senate, would take the helm of a central bank he has argued should scale back its role in the economy and rethink its approach to monetary policy.

"Markets are calibrating to Trump's pick of Kevin Warsh ... and the outlook for monetary policy," said Michael Hans, chief investment officer at ‌Citizens Wealth, who also pointed to an unwinding of recent trading patterns with the U.S. dollar gaining ground on Friday and precious metals selling off sharply.

Meanwhile, ​in earnings, Apple shares regained ground to close up 0.4% after earlier losses a day after the iPhone maker released quarterly results. On the data front, producer prices increased more than expected in December, suggesting inflation could pick up in the months ahead.

"There's a combination of investor concerns around the Fed chair announcement, some mixed tech earnings and lingering inflation pressure as well as some uncertainty about a potential government ‍shutdown even though it should be short-lived," said Angelo Kourkafas, senior global strategist at Edward Jones.

The Dow Jones Industrial Average fell 179.09 points, or 0.36%, to 48,892.47, the S&amp;P 500 lost 29.98 points, or 0.43%, to 6,939.03 and the Nasdaq Composite lost 223.30 points, or 0.94%, to 23,461.82.

The rate-sensitive, small-cap Russell 2000 index has recently been outperforming large-cap indexes but on Friday it lagged with a 1.6% loss for the day.

But the Russell 2000 ended the month up ⁠more than 5%, compared with monthly advances of 1.4% for the S&amp;P 500 and 0.9% for the Nasdaq. The Dow, meanwhile, climbed 1.7% for January, to notch a ninth consecutive monthly advance, its longest ‍winning streak since 2018.

For the week, the S&amp;P 500 rose 0.3%, the Dow fell 0.4% and the Nasdaq fell 0.2%.

The S&amp;P's Materials index led declines among the S&amp;P 500's 11 major industry sectors, with a 1.9% loss, ‌as U.S.-listed gold ‌and silver miners tumbled in sympathy with the massive selloff in gold prices and in silver.

Defensive consumer staples was the sector with the biggest advance on the day, rising 1.4%. Colgate-Palmolive (CL.N), opens new tab was its biggest gainer, closing up 5.9%, after the maker of toothpaste and soap forecast annual sales above Wall Street estimates on steady demand for household staples in markets such as Latin America and Europe.

Investors have given a mixed reception to megacap earnings reports this week with a stark warning that record capital‑spending binges will be tolerated as long as the growth keeps coming.

Apple wrapped up the week with a forecast of higher-than-expected revenue growth of ⁠up to 16% for the March quarter, but ⁠warned that rising memory-chip prices had started ​to pressure profitability.

Microsoft ended down 0.7% on Friday after falling 10% on Thursday for its deepest daily loss since March 2020 after its cloud revenue failed to impress. Meta shares closed 3% lower on Friday.

After falling on Thursday following its results, Tesla shares rose 3.3% on Friday, providing the S&amp;P 500 with its biggest boost, after reports that SpaceX is exploring deals with the electric-vehicle maker and other companies run by Elon Musk.

Verizon Communications was the ‍S&amp;P 500's second-biggest boost, finishing up 11.8% after it forecast annual profit and free cash flow above market expectations on Friday, after aggressive promotions during the peak holiday period fueled its highest quarterly wireless subscriber additions in six years.

SanDisk shares rallied 6.9% after a better-than-expected third-quarter forecast as AI fuels storage demand. But KLA Corp shares tumbled 15.2% even after the company beat Wall Street expectations for second-quarter profit and revenue.

Declining issues outnumbered advancers by a 1.59-to-1 ratio on the NYSE ​where there were 247 new highs and 154 new lows. On the Nasdaq, 1,599 stocks rose and 3,222 fell as ‍declining issues outnumbered advancers by a 2.02-to-1 ratio.

The S&amp;P 500 posted 19 new 52-week highs and 10 new lows while the Nasdaq Composite recorded 72 new highs and 205 new lows.

On U.S. exchanges, 23.88 billion shares changed hands compared with the 19.42 ​billion moving average for the last 20 trading sessions.

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

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Use of Artificial Intelligence

US stocks fall, as investors fret over Trump's Fed nominee, earnings, inflation

Wall Street's main indexes closed lower on Friday as investors viewed President Donald Trump's nomination of former Federal Reserve Governor Kevin Warsh as a hawkish choice to succeed Federal Reserve Chair ​Jerome Powell, while also digesting earnings reports and a high inflation reading.

On top of assessing the risks from U.S. tensions with countries including Iran, investors were also worried about ‌the prospect of another U.S. government shutdown after new barriers emerged in the Senate to a deal that would ensure continuation of funding for agency operations.

At the Fed, Warsh, 55, is expected to favor lower interest rates but stop short of the more aggressive monetary easing linked to some other potential nominees. With Powell's term ending in May, Warsh, if confirmed by the Senate, would take the helm of a central bank he has argued should scale back its role in the economy and rethink its approach to monetary policy.

&quot;Markets are calibrating to Trump's pick of Kevin Warsh ... and the outlook for monetary policy,&quot; said Michael Hans, chief investment officer at ‌Citizens Wealth, who also pointed to an unwinding of recent trading patterns with the U.S. dollar gaining ground on Friday and precious metals selling off sharply.

Meanwhile, ​in earnings, Apple shares regained ground to close up 0.4% after earlier losses a day after the iPhone maker released quarterly results. On the data front, producer prices increased more than expected in December, suggesting inflation could pick up in the months ahead.

&quot;There's a combination of investor concerns around the Fed chair announcement, some mixed tech earnings and lingering inflation pressure as well as some uncertainty about a potential government ‍shutdown even though it should be short-lived,&quot; said Angelo Kourkafas, senior global strategist at Edward Jones.

The Dow Jones Industrial Average fell 179.09 points, or 0.36%, to 48,892.47, the S&amp;amp;P 500 lost 29.98 points, or 0.43%, to 6,939.03 and the Nasdaq Composite lost 223.30 points, or 0.94%, to 23,461.82.

The rate-sensitive, small-cap Russell 2000 index has recently been outperforming large-cap indexes but on Friday it lagged with a 1.6% loss for the day.

But the Russell 2000 ended the month up ⁠more than 5%, compared with monthly advances of 1.4% for the S&amp;amp;P 500 and 0.9% for the Nasdaq. The Dow, meanwhile, climbed 1.7% for January, to notch a ninth consecutive monthly advance, its longest ‍winning streak since 2018.

For the week, the S&amp;amp;P 500 rose 0.3%, the Dow fell 0.4% and the Nasdaq fell 0.2%.

The S&amp;amp;P's Materials index led declines among the S&amp;amp;P 500's 11 major industry sectors, with a 1.9% loss, ‌as U.S.-listed gold ‌and silver miners tumbled in sympathy with the massive selloff in gold prices and in silver.

Defensive consumer staples was the sector with the biggest advance on the day, rising 1.4%. Colgate-Palmolive (CL.N), opens new tab was its biggest gainer, closing up 5.9%, after the maker of toothpaste and soap forecast annual sales above Wall Street estimates on steady demand for household staples in markets such as Latin America and Europe.

Investors have given a mixed reception to megacap earnings reports this week with a stark warning that record capital‑spending binges will be tolerated as long as the growth keeps coming.

Apple wrapped up the week with a forecast of higher-than-expected revenue growth of ⁠up to 16% for the March quarter, but ⁠warned that rising memory-chip prices had started ​to pressure profitability.

Microsoft ended down 0.7% on Friday after falling 10% on Thursday for its deepest daily loss since March 2020 after its cloud revenue failed to impress. Meta shares closed 3% lower on Friday.

After falling on Thursday following its results, Tesla shares rose 3.3% on Friday, providing the S&amp;amp;P 500 with its biggest boost, after reports that SpaceX is exploring deals with the electric-vehicle maker and other companies run by Elon Musk.

Verizon Communications was the ‍S&amp;amp;P 500's second-biggest boost, finishing up 11.8% after it forecast annual profit and free cash flow above market expectations on Friday, after aggressive promotions during the peak holiday period fueled its highest quarterly wireless subscriber additions in six years.

SanDisk shares rallied 6.9% after a better-than-expected third-quarter forecast as AI fuels storage demand. But KLA Corp shares tumbled 15.2% even after the company beat Wall Street expectations for second-quarter profit and revenue.

Declining issues outnumbered advancers by a 1.59-to-1 ratio on the NYSE ​where there were 247 new highs and 154 new lows. On the Nasdaq, 1,599 stocks rose and 3,222 fell as ‍declining issues outnumbered advancers by a 2.02-to-1 ratio.

The S&amp;amp;P 500 posted 19 new 52-week highs and 10 new lows while the Nasdaq Composite recorded 72 new highs and 205 new lows.

On U.S. exchanges, 23.88 billion shares changed hands compared with the 19.42 ​billion moving average for the last 20 trading sessions.

The Dow Jones Industrial Average finished down ​on Friday, while the S&amp;P 500 ended largely unchanged, as investors' risk appetite was dimmed at the end of a topsy-turvy week ‌by Intel's plunge on a downbeat outlook.

All three Wall Street benchmarks had rebounded in the past two sessions following Tuesday's sharp selloff triggered by U.S. President Donald Trump's threats to impose tariffs on European allies, an effort to pressure them to accept his claims to Greenland.

On Friday, the Dow Jones Industrial Average fell 285.30 points, or 0.58%, to 49,098.71. The S&amp;P 500 edged up 2.26 points, or 0.03%, to 6,915.61, and the Nasdaq Composite gained 65.23 points, or 0.28%, to 23,501.24.

Even the Nasdaq's ‌Friday gains were not enough to rescue the benchmarks from having a down week, with the S&amp;P 500 off by ​0.36%, the Dow lower by 0.53% and the Nasdaq slipping by 0.06%.

Despite the week's limited pullback, investors appeared to remain confident that while geopolitical-induced volatility is a present danger, the overall state of the American economy continues to be robust.

"When we think about what it means from an investor's standpoint, we feel ‍pretty good about where we are today," said Jason Blackwell, chief investment strategist at Focus Partners Wealth.

He noted that volatility was expected this year, given the midterms later in 2026. However, corporate earnings are expected to continue to come in strong, and the economy is going along fine.

"We're feeling pretty good, but mindful we might have some significant twists and ⁠turns throughout the rest of the year," Blackwell added.

THE 'SHOW-ME' SEASON

One twist on Friday, which weighed on market sentiment, was chipmaker Intel (INTC.O), opens new tab. Its shares sank 17% after the ‍company forecast quarterly revenue and profit below market estimates, saying it struggled to satisfy demand for its server chips used in AI data centers.

With many technology and semiconductor companies ‌still trading ‌at sky-high valuations, 2026 is viewed by many as the year where the huge excitement for the artificial intelligence trend, and the huge amounts of capital expenditure to attain it, need to start showing up as corporate revenue.

Julian McManus, portfolio manager on the Global Alpha Equity team at Janus Henderson, noted how last week's earnings from TSMC(2330.TW), opens new tab, the world's main producer of advanced AI chips, could portend well for the latest earnings from the space.

“Going into results, we’re going to be ⁠in a ‘show-me’ period, where you have ⁠to actually put up the revenue ​growth to justify the run-up in stocks,” he said. “It’s going to be a period of the haves versus the have-nots, and I personally don’t see Intel being in the haves.”

MAG 7 EARNINGS TEST

This show-me point will be particularly pertinent for investors next week, with earnings on deck from many of the so-called Magnificent Seven stocks, including Apple, Tesla ‍and Microsoft.

On Friday, most of the megacaps rose, with Microsoft, Meta and Amazon up between 1.7% and 3.3%. Nvidia gained 1.5% after Bloomberg News reported Chinese officials have told Alibaba, Tencent tab and ByteDance they can prepare orders for Nvidia's H200 AI chips.

Of the S&amp;P sub-sectors, seven ended in positive territory, led by the 0.9% increase in materials.

The energy index rose 0.6% on Friday, ​to its third successive record closing high. It was also the top performing sub-index for the ‍week, while its 10.1% advance so far in 2026 is unmatched.

The number of shares changing hands on U.S. exchanges on Friday was 17.34 billion shares, compared with the 17.07 billion average over ​the last 20 trading days.

Dow ends lower after topsy-turvy week, as Intel's outlook weighs on market sentiment

The Dow Jones Industrial Average finished down ​on Friday, while the S&amp;amp;P 500 ended largely unchanged, as investors' risk appetite was dimmed at the end of a topsy-turvy week ‌by Intel's plunge on a downbeat outlook.

All three Wall Street benchmarks had rebounded in the past two sessions following Tuesday's sharp selloff triggered by U.S. President Donald Trump's threats to impose tariffs on European allies, an effort to pressure them to accept his claims to Greenland.

On Friday, the Dow Jones Industrial Average fell 285.30 points, or 0.58%, to 49,098.71. The S&amp;amp;P 500 edged up 2.26 points, or 0.03%, to 6,915.61, and the Nasdaq Composite gained 65.23 points, or 0.28%, to 23,501.24.

Even the Nasdaq's ‌Friday gains were not enough to rescue the benchmarks from having a down week, with the S&amp;amp;P 500 off by ​0.36%, the Dow lower by 0.53% and the Nasdaq slipping by 0.06%.

Despite the week's limited pullback, investors appeared to remain confident that while geopolitical-induced volatility is a present danger, the overall state of the American economy continues to be robust.

&quot;When we think about what it means from an investor's standpoint, we feel ‍pretty good about where we are today,&quot; said Jason Blackwell, chief investment strategist at Focus Partners Wealth.

He noted that volatility was expected this year, given the midterms later in 2026. However, corporate earnings are expected to continue to come in strong, and the economy is going along fine.

&quot;We're feeling pretty good, but mindful we might have some significant twists and ⁠turns throughout the rest of the year,&quot; Blackwell added.

THE 'SHOW-ME' SEASON

One twist on Friday, which weighed on market sentiment, was chipmaker Intel (INTC.O), opens new tab. Its shares sank 17% after the ‍company forecast quarterly revenue and profit below market estimates, saying it struggled to satisfy demand for its server chips used in AI data centers.

With many technology and semiconductor companies ‌still trading ‌at sky-high valuations, 2026 is viewed by many as the year where the huge excitement for the artificial intelligence trend, and the huge amounts of capital expenditure to attain it, need to start showing up as corporate revenue.

Julian McManus, portfolio manager on the Global Alpha Equity team at Janus Henderson, noted how last week's earnings from TSMC(2330.TW), opens new tab, the world's main producer of advanced AI chips, could portend well for the latest earnings from the space.

“Going into results, we’re going to be ⁠in a ‘show-me’ period, where you have ⁠to actually put up the revenue ​growth to justify the run-up in stocks,” he said. “It’s going to be a period of the haves versus the have-nots, and I personally don’t see Intel being in the haves.”

MAG 7 EARNINGS TEST

This show-me point will be particularly pertinent for investors next week, with earnings on deck from many of the so-called Magnificent Seven stocks, including Apple, Tesla ‍and Microsoft.

On Friday, most of the megacaps rose, with Microsoft, Meta and Amazon up between 1.7% and 3.3%. Nvidia gained 1.5% after Bloomberg News reported Chinese officials have told Alibaba, Tencent tab and ByteDance they can prepare orders for Nvidia's H200 AI chips.

Of the S&amp;amp;P sub-sectors, seven ended in positive territory, led by the 0.9% increase in materials.

The energy index rose 0.6% on Friday, ​to its third successive record closing high. It was also the top performing sub-index for the ‍week, while its 10.1% advance so far in 2026 is unmatched.

The number of shares changing hands on U.S. exchanges on Friday was 17.34 billion shares, compared with the 17.07 billion average over ​the last 20 trading days.

US stocks ended nearly flat on Friday in a choppy session ahead of the long weekend, and all three major indexes ​posted losses for the week as fourth-quarter earnings season kicked off.

Healthcare fell 0.8% and led declines for the day among S&amp;P ‌500 sectors. Shares of chipmakers rose, with an index of semiconductors gaining 1.2% and extending gains from Thursday.

Big U.S. banks posted mostly solid results this week as the S&amp;P 500 reporting period got under way. Still, shares of banks and other financial institutions have been pressured by worries over U.S. President Donald Trump's proposed one-year cap on credit card interest rates at 10%. The S&amp;P 500 financial sector ended up 0.1% on Friday but posted its biggest weekly percentage decline since October.

Investors also ‌digested news that Trump said he may want to keep economic adviser Kevin Hassett in his current role, lowering ​market bets that Hassett would succeed Federal Reserve Chair Jerome Powell.

"To finish the week around flat with the S&amp;P 500 still within spitting distance of 7,000 - most investors will take that as a win two weeks into the year," said Anthony Saglimbene, chief market strategist at Ameriprise Financial.

"One of ‍the other reasons markets have been flat-lining is we're at the start of the earnings season," he said. "Bank earnings are showing a generally favorable economic and business backdrop. Now we're going to start seeing other companies tied to other sectors, and that's going to give us a better take on fundamental conditions."

The Dow Jones Industrial Average fell 83.11 points, ⁠or 0.17%, to 49,359.33, the S&amp;P 500 lost 4.46 points, or 0.06%, to 6,940.01 and the Nasdaq Composite lost 14.63 points, or 0.06%, to ‍23,515.39.

For the week, the S&amp;P 500 was down 0.38%, the Nasdaq declined 0.66% and the Dow fell 0.29%.

The earnings season ramps up next week with reports from heavyweights ‌including Netflix, ‌Johnson &amp; Johnson and Intel.

Investors were also cautious of making big bets ahead of the long weekend, with the stock market shut on Monday for the Martin Luther King Jr. holiday.

While stocks have largely traded in a relatively tight range in recent sessions, some options market participants expect more choppy price action in coming days following Friday's monthly options expiration.

"Historically the middle part of January tends to be pretty choppy," said Bruce Zaro, managing director at Granite Wealth ⁠Management in Plymouth, Massachusetts.

"Once we work our ⁠way through that, then we ​are likely to see a little bit better performance out to the end of the month. Hopefully, we'll find the month positive," which could suggest positive performance for the year, Zaro said.

The week also saw money shifting out of some heavyweight tech names into more undervalued areas, with mid- and small-cap stocks outperforming the benchmark S&amp;P 500.
The small-cap ‍Russell 2000 (.RUT), opens new tab reached another record closing high on Friday and gained 2.04% for the week.

Most of the major S&amp;P 500 sector also ended with gains for the week, with real estate, consumer staples and industrials leading in weekly increases.

Declining issues outnumbered advancers by a 1.19-to-1 ratio on the NYSE. There were 423 new highs and 64 new lows on ​the NYSE.

On the Nasdaq, 2,034 stocks rose and 2,719 fell as declining issues outnumbered ‍advancers by a 1.34-to-1 ratio.

Volume on U.S. exchanges was 18.77 billion shares, compared with the 16.85 billion average for the full session over the last 20 trading days.

Wall Street ends little changed before long weekend

US stocks ended nearly flat on Friday in a choppy session ahead of the long weekend, and all three major indexes ​posted losses for the week as fourth-quarter earnings season kicked off.

Healthcare fell 0.8% and led declines for the day among S&amp;amp;P ‌500 sectors. Shares of chipmakers rose, with an index of semiconductors gaining 1.2% and extending gains from Thursday.

Big U.S. banks posted mostly solid results this week as the S&amp;amp;P 500 reporting period got under way. Still, shares of banks and other financial institutions have been pressured by worries over U.S. President Donald Trump's proposed one-year cap on credit card interest rates at 10%. The S&amp;amp;P 500 financial sector ended up 0.1% on Friday but posted its biggest weekly percentage decline since October.

Investors also ‌digested news that Trump said he may want to keep economic adviser Kevin Hassett in his current role, lowering ​market bets that Hassett would succeed Federal Reserve Chair Jerome Powell.

&quot;To finish the week around flat with the S&amp;amp;P 500 still within spitting distance of 7,000 - most investors will take that as a win two weeks into the year,&quot; said Anthony Saglimbene, chief market strategist at Ameriprise Financial.

&quot;One of ‍the other reasons markets have been flat-lining is we're at the start of the earnings season,&quot; he said. &quot;Bank earnings are showing a generally favorable economic and business backdrop. Now we're going to start seeing other companies tied to other sectors, and that's going to give us a better take on fundamental conditions.&quot;

The Dow Jones Industrial Average fell 83.11 points, ⁠or 0.17%, to 49,359.33, the S&amp;amp;P 500 lost 4.46 points, or 0.06%, to 6,940.01 and the Nasdaq Composite lost 14.63 points, or 0.06%, to ‍23,515.39.

For the week, the S&amp;amp;P 500 was down 0.38%, the Nasdaq declined 0.66% and the Dow fell 0.29%.

The earnings season ramps up next week with reports from heavyweights ‌including Netflix, ‌Johnson &amp;amp; Johnson and Intel.

Investors were also cautious of making big bets ahead of the long weekend, with the stock market shut on Monday for the Martin Luther King Jr. holiday.

While stocks have largely traded in a relatively tight range in recent sessions, some options market participants expect more choppy price action in coming days following Friday's monthly options expiration.

&quot;Historically the middle part of January tends to be pretty choppy,&quot; said Bruce Zaro, managing director at Granite Wealth ⁠Management in Plymouth, Massachusetts.

&quot;Once we work our ⁠way through that, then we ​are likely to see a little bit better performance out to the end of the month. Hopefully, we'll find the month positive,&quot; which could suggest positive performance for the year, Zaro said.

The week also saw money shifting out of some heavyweight tech names into more undervalued areas, with mid- and small-cap stocks outperforming the benchmark S&amp;amp;P 500.
The small-cap ‍Russell 2000 (.RUT), opens new tab reached another record closing high on Friday and gained 2.04% for the week.

Most of the major S&amp;amp;P 500 sector also ended with gains for the week, with real estate, consumer staples and industrials leading in weekly increases.

Declining issues outnumbered advancers by a 1.19-to-1 ratio on the NYSE. There were 423 new highs and 64 new lows on ​the NYSE.

On the Nasdaq, 2,034 stocks rose and 2,719 fell as declining issues outnumbered ‍advancers by a 1.34-to-1 ratio.

Volume on U.S. exchanges was 18.77 billion shares, compared with the 16.85 billion average for the full session over the last 20 trading days.

The S&amp;P 500 rallied to a record high close on Friday, lifted by Broadcom and other chipmakers, while a weaker-than-expected jobs report did little to alter expectations of interest rate cuts from the Federal Reserve this year.

Wall Street's three main indexes all gained sharply in 2026's first full week of trading, fueled by increases in materials, industrials and other sectors that have lagged technology stocks in recent years.

A Labor Department report showed U.S. employment growth slowed more than expected in December, but a decline in the unemployment rate to 4.4% suggested the labor market was not rapidly deteriorating.

<strong>S&amp;P 500 stock moves</strong>

Chip stocks rallied, with the PHLX semiconductor index (.SOX), opens new tab jumping 2.7% to a record high.

Lam Research rallied 8.7% to $218.36 after Mizuho raised its price target on the chip manufacturing tool maker to $220 from $200.

Broadcom rose 3.8%, Alphabet added 1% and Tesla climbed 2.1%, all lifting the S&amp;P 500 and Nasdaq.

Vistra jumped 10.5% after Meta Platforms agreed to buy power from the company's nuclear plants.

"On the overall AI theme, investors are getting granular and picking the winners and losers in terms of sub-themes and individual names," said Zachary Hill, head of portfolio management at Horizon Investments in Charlotte, North Carolina.

"We view that as a more positive development. It means that we're getting closer to the monetization phase, where people can actually see and touch the revenue enhancements that are going to come from this revolutionary technology."

Intel rallied almost 11% after Trump said he had a "great meeting" with the chipmaker's chief executive officer, Lip-Bu Tan.

The S&amp;P 500 climbed 0.65% to end the session at 6,966.28 points.

The Nasdaq gained 0.82% to 23,671.35 points, while the Dow Jones Industrial Average rose 0.48% to 49,504.07 points.

Nine of the 11 S&amp;P 500 sector indexes rose, led by materials (.SPLRCM), opens new tab, up 1.8%, followed by a 1.24% gain in utilities (.SPLRCU), opens new tab.
For the week, the S&amp;P 500 climbed 1.6%, the Nasdaq rose 1.9% and the Dow added 2.3%.

Valuations on Wall Street were relatively high ahead of fourth-quarter earnings season. The S&amp;P 500 is trading at about 22 times expected earnings, down from 23 in November, but above its five-year average of 19, according to LSEG data.

Underscoring a recent shift toward stocks that have underperformed in recent years, the S&amp;P 500 value index has climbed about 2% so far in 2026, beating a 1% gain in the S&amp;P 500 growth index.

The U.S. Supreme Court said it would not issue a ruling on Friday on the legality of U.S. President Donald Trump's sweeping tariffs. This left investors, many of whom expected a decision, awaiting clarity.

Traders anticipate heightened volatility across financial markets if the court strikes down the tariffs.

Mortgage lenders rose a day after Trump said he is ordering his representatives to buy $200 billion in mortgage bonds to bring down housing costs.

LoanDepot surged 19.3%, Rocket Companies gained 9.6% and Opendoor Technologies rallied 13.1%.

The Philadelphia Housing index gained 5.7% to its highest since October.

General Motors sharesfell more than 2% after the automaker said on Thursday it would take a $6 billion charge to unwind some electric-vehicle investments.

Advancing issues outnumbered falling ones within the S&amp;P 500
by a 1.3-to-one ratio.

The S&amp;P 500 posted 48 new highs and 6 new lows; the Nasdaq recorded 140 new highs and 62 new lows.

Volume on U.S. exchanges was relatively heavy, with 17.0 billion shares traded, compared to an average of 16.4 billion shares over the previous 20 sessions.

S&P 500 notches record high close driven by Broadcom, other chipmakers

The S&amp;amp;P 500 rallied to a record high close on Friday, lifted by Broadcom and other chipmakers, while a weaker-than-expected jobs report did little to alter expectations of interest rate cuts from the Federal Reserve this year.

Wall Street's three main indexes all gained sharply in 2026's first full week of trading, fueled by increases in materials, industrials and other sectors that have lagged technology stocks in recent years.

A Labor Department report showed U.S. employment growth slowed more than expected in December, but a decline in the unemployment rate to 4.4% suggested the labor market was not rapidly deteriorating.

S&amp;amp;P 500 stock moves

Chip stocks rallied, with the PHLX semiconductor index (.SOX), opens new tab jumping 2.7% to a record high.

Lam Research rallied 8.7% to $218.36 after Mizuho raised its price target on the chip manufacturing tool maker to $220 from $200.

Broadcom rose 3.8%, Alphabet added 1% and Tesla climbed 2.1%, all lifting the S&amp;amp;P 500 and Nasdaq.

Vistra jumped 10.5% after Meta Platforms agreed to buy power from the company's nuclear plants.

&quot;On the overall AI theme, investors are getting granular and picking the winners and losers in terms of sub-themes and individual names,&quot; said Zachary Hill, head of portfolio management at Horizon Investments in Charlotte, North Carolina.

&quot;We view that as a more positive development. It means that we're getting closer to the monetization phase, where people can actually see and touch the revenue enhancements that are going to come from this revolutionary technology.&quot;

Intel rallied almost 11% after Trump said he had a &quot;great meeting&quot; with the chipmaker's chief executive officer, Lip-Bu Tan.

The S&amp;amp;P 500 climbed 0.65% to end the session at 6,966.28 points.

The Nasdaq gained 0.82% to 23,671.35 points, while the Dow Jones Industrial Average rose 0.48% to 49,504.07 points.

Nine of the 11 S&amp;amp;P 500 sector indexes rose, led by materials (.SPLRCM), opens new tab, up 1.8%, followed by a 1.24% gain in utilities (.SPLRCU), opens new tab.
For the week, the S&amp;amp;P 500 climbed 1.6%, the Nasdaq rose 1.9% and the Dow added 2.3%.

Valuations on Wall Street were relatively high ahead of fourth-quarter earnings season. The S&amp;amp;P 500 is trading at about 22 times expected earnings, down from 23 in November, but above its five-year average of 19, according to LSEG data.

Underscoring a recent shift toward stocks that have underperformed in recent years, the S&amp;amp;P 500 value index has climbed about 2% so far in 2026, beating a 1% gain in the S&amp;amp;P 500 growth index.

The U.S. Supreme Court said it would not issue a ruling on Friday on the legality of U.S. President Donald Trump's sweeping tariffs. This left investors, many of whom expected a decision, awaiting clarity.

Traders anticipate heightened volatility across financial markets if the court strikes down the tariffs.

Mortgage lenders rose a day after Trump said he is ordering his representatives to buy $200 billion in mortgage bonds to bring down housing costs.

LoanDepot surged 19.3%, Rocket Companies gained 9.6% and Opendoor Technologies rallied 13.1%.

The Philadelphia Housing index gained 5.7% to its highest since October.

General Motors sharesfell more than 2% after the automaker said on Thursday it would take a $6 billion charge to unwind some electric-vehicle investments.

Advancing issues outnumbered falling ones within the S&amp;amp;P 500
by a 1.3-to-one ratio.

The S&amp;amp;P 500 posted 48 new highs and 6 new lows; the Nasdaq recorded 140 new highs and 62 new lows.

Volume on U.S. exchanges was relatively heavy, with 17.0 billion shares traded, compared to an average of 16.4 billion shares over the previous 20 sessions.

S&amp;P 500 notches record high close driven by Broadcom, other chipmakers

US stocks have kicked off the year on a record high, powered by a renewed surge in technology and AI names, as investors bet that geopolitics may ultimately ease -- not tighten -- financial conditions.

Wall Street’s rally gathered momentum after the US capture of Venezuelan president Nicolás Maduro was read by markets as reducing concerns around energy and geopolitics, reinforcing expectations that the Federal Reserve will have room to cut rates later this year. The S&amp;P 500 and Nasdaq have both hit fresh all-time highs, with gains overwhelmingly concentrated in mega-cap technology, AI infrastructure and semiconductor stocks, extending a rally that has now run for nearly three years.

That strength, however, is only accentuated a growing global divergence. And India sits firmly on the wrong side of it.

The divide is at multiple levels: between AI and non AI markets, and then, between markets with weakening and stronger currencies, as US President Donald Trump has reset trade terms, and the dollar has turned decisively weak.

This already played over the past year with India emerging as one of the weakest relative-return markets in the world.

While US equities have delivered high-teens returns over the last 12 months, Indian benchmarks have struggled to keep pace, with gains stuck in single digits for the frontline indices, and several broader indices ending up flat to negative on a relative basis.

India has also underperformed Japan and parts of emerging Asia, reversing the leadership position from earlier years when it was seen as a structural growth outlier.

What does all this mean? Jefferies’ Asia strategy describes India as the clearest example of the “reverse AI trade” — a market that has remained largely disconnected from the global AI capex boom while continuing to trade at a premium to peers. Unlike the US, where AI-linked capex has directly lifted earnings visibility and market concentration, India has seen little direct earnings spillover from the theme.

The result is an uncomfortable mix of elevated valuations, modest earnings growth, and declining foreign flows, just as global investors are once again being pulled back into US technology leaders.

Foreign portfolio investor activity reflects that shift. As US tech stocks regain momentum, India has struggled to attract sustained incremental flows, relying increasingly on domestic institutions to stabilise markets. This is a model that works in drawdowns, as Indian investors so far have had a steadfast ‘buy-on-dips’ approach, but offers limited upside during global risk-on phases.

This means that for Indian equities, the list of potential catalysts is narrow — and conditional.
According to several global analysts, the most important trigger would be a clear pivot toward monetary easing in the US. A dovish Fed would weaken the dollar, loosen global liquidity and reopen the relative-value case for emerging markets, including India. Without that shift, India will find it difficult to compete with the earnings momentum and thematic clarity driving US stocks.

The second lever is a visible improvement in earnings growth, led by domestic demand. A pickup in consumption, credit growth and private capex would help justify valuations that currently leave little margin for disappointment.

If those conditions fall into place, select pockets of the Indian market could respond quickly.
Rate-sensitive sectors such as banks, non-bank lenders, real estate and consumption-linked stocks would be the most immediate beneficiaries of a global and domestic easing cycle. Financials, in particular, will benefit from lower funding costs and improved loan growth, while discretionary consumption would benefit from easing inflation and stronger household demand.

Until then, India may remain caught in a global market structure dominated by US technology and AI, and waiting for rate cuts, stronger demand, or both, to reclaim its leadership in global portfolios.

Why Wall Street’s surge isn’t good news for India anymore

US stocks have kicked off the year on a record high, powered by a renewed surge in technology and AI names, as investors bet that geopolitics may ultimately ease -- not tighten -- financial conditions.

Wall Street’s rally gathered momentum after the US capture of Venezuelan president Nicolás Maduro was read by markets as reducing concerns around energy and geopolitics, reinforcing expectations that the Federal Reserve will have room to cut rates later this year. The S&amp;amp;P 500 and Nasdaq have both hit fresh all-time highs, with gains overwhelmingly concentrated in mega-cap technology, AI infrastructure and semiconductor stocks, extending a rally that has now run for nearly three years.

That strength, however, is only accentuated a growing global divergence. And India sits firmly on the wrong side of it.

The divide is at multiple levels: between AI and non AI markets, and then, between markets with weakening and stronger currencies, as US President Donald Trump has reset trade terms, and the dollar has turned decisively weak.

This already played over the past year with India emerging as one of the weakest relative-return markets in the world.

While US equities have delivered high-teens returns over the last 12 months, Indian benchmarks have struggled to keep pace, with gains stuck in single digits for the frontline indices, and several broader indices ending up flat to negative on a relative basis.

India has also underperformed Japan and parts of emerging Asia, reversing the leadership position from earlier years when it was seen as a structural growth outlier.

What does all this mean? Jefferies’ Asia strategy describes India as the clearest example of the “reverse AI trade” — a market that has remained largely disconnected from the global AI capex boom while continuing to trade at a premium to peers. Unlike the US, where AI-linked capex has directly lifted earnings visibility and market concentration, India has seen little direct earnings spillover from the theme.

The result is an uncomfortable mix of elevated valuations, modest earnings growth, and declining foreign flows, just as global investors are once again being pulled back into US technology leaders.

Foreign portfolio investor activity reflects that shift. As US tech stocks regain momentum, India has struggled to attract sustained incremental flows, relying increasingly on domestic institutions to stabilise markets. This is a model that works in drawdowns, as Indian investors so far have had a steadfast ‘buy-on-dips’ approach, but offers limited upside during global risk-on phases.

This means that for Indian equities, the list of potential catalysts is narrow — and conditional.
According to several global analysts, the most important trigger would be a clear pivot toward monetary easing in the US. A dovish Fed would weaken the dollar, loosen global liquidity and reopen the relative-value case for emerging markets, including India. Without that shift, India will find it difficult to compete with the earnings momentum and thematic clarity driving US stocks.

The second lever is a visible improvement in earnings growth, led by domestic demand. A pickup in consumption, credit growth and private capex would help justify valuations that currently leave little margin for disappointment.

If those conditions fall into place, select pockets of the Indian market could respond quickly.
Rate-sensitive sectors such as banks, non-bank lenders, real estate and consumption-linked stocks would be the most immediate beneficiaries of a global and domestic easing cycle. Financials, in particular, will benefit from lower funding costs and improved loan growth, while discretionary consumption would benefit from easing inflation and stronger household demand.

Until then, India may remain caught in a global market structure dominated by US technology and AI, and waiting for rate cuts, stronger demand, or both, to reclaim its leadership in global portfolios.

Open	59.21
Previous Close	59.36
Beta	1.22

High	59.76
Low	57.56
TTM EPS See historical trend	1.30(-73.52% YoY)

52 Week High	100.54
52 Week Low	34.15
TTM PE See historical trend	44.61(High PE)

Mkt. Cap ($ Billion)	31.34
Dividend Yield	3.76

Moving Averages	Neutral
Technical Indicators	Bullish
Moving Averages Crossovers	Bullish

Microchip Technology

Advanced Chart

MC Technicals

Pivot levels

Returns

Financialsin million $

Peers

Market news

US stocks fall, as investors fret over Trump's Fed nominee, earnings, inflation

Dow ends lower after topsy-turvy week, as Intel's outlook weighs on market sentiment

Wall Street ends little changed before long weekend

S&P 500 notches record high close driven by Broadcom, other chipmakers

Why Wall Street’s surge isn’t good news for India anymore

About the company

Type	R1	R2	R3	PP	S1	S2	S3
Classic	60.86	62.36	63.35	59.88	58.37	57.38	55.88
Fibonacci	60.83	61.41	62.36	59.88	58.92	58.34	57.38
Camarilla	59.58	59.81	60.04	59.88	59.13	58.90	58.67

1 Week		-4.58%
1 Month	44.04%
3 Months		-5.04%
YTD	1.12%
1 Year		-41.67%
3 Years		-13.02%

Name	Price ($)	Change%	M.Cap(Billion $)	TTM PE	TTM EPS	DY	52 wk high/low		Technical Rating
Nvidia	185.71	-2.84	4,529.86	46.65	3.98	0.02	212.14/92.12	-1.11	Very Bullish
Apple	270.01	4.06	4,080.21	34.13	7.91	0.38	288.61/169.46	-1.12	Bearish
Broadcom	331.11	-0.06	1,551.94	68.13	4.86	0.64	414.39/139.70	-5.38	Very Bullish
Micron Technology	437.37	5.42	484.85	41.46	10.56	0.20	455.41/63.58	49.66	Very Bullish
Advanced Micro Devices	246.28	4.03	399.57	66.01	3.73	--	266.86/76.80	14.34	Very Bullish

Days
5	59.96
10	59.98
20	53.6
50	49.25
100	53.08
200	63.51