Stock Market Update Tuesday January 27, 2026
- Jan 27
- 3 min read
Stock Market Update Tuesday January 27, 2026 SPX pushed to a fresh high today, extending the same theme that has dominated the tape over the past week. Mega-cap Mag7 names continued to grind higher into earnings. MSFT led again among large-cap tech, while AMZN posted solid gains ahead of its report next week. The broader Mag7+ complex finished green, with TSLA the lone laggard. IWM underperformed but still managed a modest gain. The recent rotation of capital into mega-cap tech appears to have stalled IWM’s attempted breakout. The Dow’s decline was almost entirely attributable to UNH.
Score Board:
SPX rose 0.5%
QQQ gained 0.9%
IWM added 0.2%
Away From Stocks: What briefly looked like a potential blow-off top in metals proved otherwise. Gold surged nearly 2% to a new high. Silver also finished higher but remains below yesterday’s peak. Dollar weakness accelerated, with DXY falling to 95.81, its lowest level in years. The U.S. 10-year yield ticked higher ahead of tomorrow’s FOMC decision, now at 4.23%. Oil rallied to $62.50. The VIX edged higher despite the equity advance, closing at 16.35 as markets price in Mag7 earnings and the Fed.
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