Stock market today: Dow, S&P 500, Nasdaq futures slide as Apple earnings cap week of mixed Big Tech results
Rian Howlett·
Front Page Editor
Updated
Thu, January 29, 2026 at 7:37 PM EST
2 min read
In this article:
US stock futures fell Thursday as Wall Street digested another down session for the S&P 500.
Futures linked to the S&P 500 (ES=F) inched lower by about 0.1%, while Nasdaq 100 futures (NQ=F) also slipped 0.2%. Dow Jones Industrial Average futures (YM=F) fell roughly 100 points, or 0.2%.
Earnings movers drove after-hours action. Apple (AAPL) shares rose around 1% after the company topped fiscal first-quarter profit and sales estimates, fueled by stronger-than-expected iPhone demand. Data storage company Sandisk (SNDK) surged 11% after issuing upbeat forward guidance.
Microsoft (MSFT) shares sank roughly 10%, marking their steepest single-day decline since March 2020 and weighing heavily on both the S&P 500 (^GSPC) and Nasdaq (^IXIC). The selloff followed signs of slowing growth in the company’s cloud business. The results sparked broader losses across software stocks as investors assessed the impact of artificial intelligence on revenue versus the sky-high spend needed to attain it.
Despite recent volatility, major indexes remain higher for the week. The S&P 500 and Nasdaq are each up nearly 0.8% week to date, conversely the Dow (^DJI) is set to end the week down about 0.1%.
Investors are also parsing the Federal Reserve’s first rate decision of 2026, which held rates steady. Traders continue to expect roughly two quarter-point rate reductions before the end of the year, according to CME FedWatch.
Attention is remains pointed at leadership of the central bank. Any move toward easing looks to be delayed until after Chair Jerome Powell’s term concludes in May. The delay places added focus on Trump’s announcement of his nominee to lead the Fed, anticipated to occur Friday morning.
With a slew of Big Tech names having already reported earnings, market focus now aims towards oil producers, with Exxon (XOM) and Chevron (CVX) due to release reports before the open on Friday. American Express (AXP) and Verizon (VZ) round out the earnings slate in a stacked week.
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