Stock Market Update Thursday January 22, 2026
- Jan 22
- 2 min read
Stock Market Update Thursday January 22, 2026 Equities extended yesterday’s relief rally, building on momentum with another leg higher. The move nearly erased the entirety of the Greenland-driven drawdown before late-session volatility pared gains, leaving the S&P 500 (SPX) to close roughly 0.3% below intraday highs.
Still, that marks a +1.7% rebound since yesterday morning, bringing the SPX to within 1% of its all-time peak — underscoring the market’s resilience amid macro uncertainty.
Score Board:
SPX: +0.6%
QQQ: +0.8%
IWM: +0.8%
Away From Stocks: Treasury curve flattened for a second consecutive session as long-end yields edged lower — the 30-year fell 3 bps to 4.84%, while the 2-year yield inched up to 3.61% from 3.60%. WTI crude eased back to $59/bbl, while gold surged 1.7% to $4,918/oz, extending its breakout amid ongoing demand for real-asset hedges. Bitcoin consolidated around $89,500, and volatility continued to compress with the VIX sliding below 16, reflecting a return to risk-on sentiment.
Reserve Bank credit held steady at $6.532 trillion over the past week. The Federal Reserve’s securities holdings have risen $24 billion since early December, though they remain approximately 27% below their March 2022 highs — highlighting the ongoing balance-sheet normalization trend despite recent liquidity injections.
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