Stock Market Update Friday January 23, 2026
- Jan 23
- 4 min read
Stock Market Update Friday January 23, 2026 It was a relatively subdued trading session for U.S. equities, with the S&P 500 (SPX) oscillating within a narrow 30-point range before closing flat on the day and slightly lower for the week. The index’s modest decline follows a volatile midweek reversal, where the SPX had been down more than 2% at Tuesday’s close before staging an almost complete roundtrip recovery into Friday.
Score Board:
S&P 500 (SPX): unchanged
Nasdaq 100 (QQQ): +0.3%, supported by large-cap tech strength
Russell 2000 (IWM): -1.8%, underperforming amid renewed small-cap pressure
Away From Stocks: Treasury yields eased modestly, slipping 1–2 basis points across the curve, as investors sought duration following recent volatility. The move left the 10-year yield hovering near its weekly lows, suggesting a continued bid for safety despite resilient risk sentiment. WTI crude oil climbed decisively above $61 per barrel, extending its recent rally amid supply concerns and renewed demand optimism. Gold advanced another 1.5%, nearing the $5,000 per ounce threshold — an extraordinary level underscoring ongoing inflation hedge demand and central bank buying momentum. Bitcoin traded steadily around $89,400, consolidating after its sharp gains earlier in the month, & volatility remained muted with the VIX settling just above 16, signaling a return to calm after the week’s choppier start.
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