Stock market today: Dow, S&P 500, Nasdaq fall as Wall Street digests Warsh as Trump's Fed pick

^DJI ^IXIC ^GSPC

• Trump nominates Kevin Warsh to beryllium adjacent Fed Chair

  Opting for a accepted prime to pb the Federal Reserve, President Trump connected Friday nominated erstwhile Fed politician Kevin Warsh to beryllium the adjacent seat of the cardinal slope and win Jerome Powell.

  "I person known Kevin for a agelong play of time, and person nary uncertainty that helium volition spell down arsenic 1 of the GREAT Fed Chairmen, possibly the best. On apical of everything else, helium is 'central casting,' and helium volition ne'er fto you down," Trump said successful his announcement, which helium posted to Truth Social.

  Yahoo Finance's Jennifer Schonberger reports:

  Warsh has been highly captious of the Fed, penning successful an op-ed successful the Wall Street Journal past twelvemonth that the Fed should “discard its forecast of stagflation” and arguing that it is overlooking that AI volition beryllium a “significant” unit that volition boost productivity and propulsion down inflation.

  “He thinks you person to little involvement rates,” Trump said of Warsh recently, citing the president's cardinal litmus trial for the role.

  Warsh has criticized Powell personally for making “unwise choices,” specified arsenic missing the persistence of post-pandemic inflation. Warsh rejects the content that ostentation is caused erstwhile the system grows excessively accelerated and workers get paid excessively much. Rather, helium argues ostentation is caused erstwhile the authorities spends excessively overmuch and prints excessively overmuch money.

  Warsh has besides said helium thinks the Fed should presumption tariffs arsenic one-off terms changes, a presumption echoed by the White House and galore members of the Fed now.

  Read much here.

• 

  Consumer-focused sectors station gains

  Consumer-focused sectors roseate Friday to defy a broader marketplace drawdown.

  The Consumer Discretionary Sector (XLP) — which includes companies that merchantability goods and services customers want, but aren't indispensable — roseate 0.5%. The Consumer Staples Sector (XLY) — companies that merchantability indispensable products similar nutrient and household goods — besides climbed astir 0.4%.

  Meanwhile, the Materials Sector (XLB) and the Technology Sector (XLK) were the biggest losers connected Friday, falling astir 0.9% and 1%, respectively.

• 

  Big Tech steadies aft Thursday's shaky performance

  Big Tech names steadied connected Friday aft a wide driblet successful the tech-heavy Nasdaq Composite (^IXIC) connected Thursday pursuing an net study from Microsoft (MSFT) that showed somewhat decelerating unreality growth.

  Nvidia (NVDA), Microsoft, Alphabet (GOOGL) and Amazon (AMZN) hovered supra the level line. Nvidia and Alphabet had risen Thursday, portion Microsoft sank 10% and Amazon shares dipped.

  Tesla (TSLA) climbed 4% to retrieve from its driblet Thursday, portion Meta (META) edged down 2% Friday greeting aft soaring successful the erstwhile trading league connected the heels of its net report.

  Apple (AAPL) fell fractionally aft its CEO warned that the planetary shortage of representation chips could impact its nett margin.

• 

  Senate reaches backing deal, but authorities shutdown is inactive likely

  Yahoo Finance's Ben Werschkul writes:

  Read much here.

• 

  Stocks dip astatine the marketplace open

  US stocks fell connected Friday aft President Trump said helium volition nominate erstwhile Fed politician Kevin Warsh to pb the cardinal bank, but the large indexes were acceptable to extremity the past trading time of January with monthly gains.

  The S&P 500 (^GSPC) slid 0.2%, portion the tech-heavy Nasdaq Composite (^IXIC) fell 0.3%, pointing to different down league for tech stocks. The Dow Jones Industrial Average (^DJI) dipped beneath the level line.

  DJI - Free Realtime Quote • USD

  48,629.01 -442.55 (-0.90%)

  As of 11:21:17 AM EST. Market Open.

  ^DJI ^IXIC ^GSPC

• Trending tickers successful premarket trading: SoFi, Sandisk, American Express, Verizon

  Here's a look astatine immoderate progressive stocks connected Friday morning, galore of which are moving successful effect to quarterly results:

  SoFi Technologies (SOFI) shares jumped 5% up of the opening doorbell aft the fintech lender reported coagulated indebtedness request and a 78% yearly emergence successful gross for the 4th quarter. CEO Anthony Noto said user recognition wellness "remained strong," indicating that customers were paying disconnected loans.

  Sandisk (SNDK) stock surged 22% aft crushing net expectations by astir $3 per share. Shares person rocketed higher implicit the past twelvemonth arsenic request for its representation spot and retention hardware by AI and information halfway developers has soared. In the past year, the banal is up implicit 1,400%.

  American Express (AXP) stock slipped 2% arsenic President Trump's recognition paper complaint headdress connection continued to bent implicit recognition paper issuers. American Express's 4th was different solid, arsenic it posted double-digit gross growth.

  Deckers Outdoor (DECK) stock surged 15% arsenic request for Hoka sneakers and Ugg boots lifted the company's results. After reporting grounds 3rd 4th revenue, it lifted its gross guidance for the 4th fourth supra Wall Street's expectations.

  Verizon (VZ) also reported an upbeat 4th fourth forecast up of analysts' estimates aft dense promotions during the vacation 4th helped the institution adhd 616,000 wireless telephone subscribers, good up of estimates. The banal roseate 5%.

  Check retired much trending tickers here.

• BofA’s Hartnett warns stocks are flashing a merchantability signal

  Bloomberg reports:

  Read much here.

• Exxon banal steps little aft net beat

  ExxonMobil (XOM) reported an net bushed connected Friday, arsenic lipid giants contend with an oversupply of lipid that has helped thrust crude prices down. Its banal fell 1.3% successful premarket trading

  Adjusted net per stock for the 4th fourth were $1.71, up of expert expectations of $1.68. Revenue of $82.31 cardinal was besides higher than the expected $81.43 billion

  Exxon said it reached its highest full-year nett accumulation successful much than 40 years astatine 4.7 cardinal oil-equivalent barrels per day.

  "ExxonMobil is simply a fundamentally stronger institution than it was conscionable a fewer years ago, and our 2025 results show that," CEO Darren Woods said. "Our translation is delivering a much resilient, lower-cost, technology-led concern with structurally stronger net power, grounded successful advantaged assets, disciplined superior allocation, and execution excellence."

  In 2026, Exxon plans to walk $27 cardinal to $29 cardinal successful superior expenditures. It spent $29 cardinal successful 2025 connected capex.

  NYSE - Nasdaq Real Time Price • USD

  139.33 -1.07 (-0.76%)

  As of 11:21:17 AM EST. Market Open.

  Listen to the net telephone present astatine 9:30 a.m. ET.

• Deckers shares soar 13% arsenic Ugg and Hoka thrust grounds Q3 earnings

  Deckers (DECK) banal jumped 13% earlier the doorbell aft the institution raised its full-year fiscal outlook.

  Strong gains for Hoka sneakers and Ugg boots drove robust results successful the company's fiscal 3rd quarter, it reported connected Thursday

  For the afloat year, Deckers expects gross betwixt $5.40 cardinal and $5.42 billion, supra the statement estimation of $5.36 billion.

  From Investing.com:

  Read much here.

• Big Tech thinks astute glasses volition beryllium the archetypal large portion of AI hardware

  Yahoo Finance's Hamza Shaban reports:

  The transformational powerfulness of artificial quality is already here. Now, Big Tech companies conscionable person to find the close caller hardware to sell.

  That's the pitch. Or the catch, really. The wonders of having ChatGPT constitute your memo oregon outline your presumption are supercharging the nonrecreational world, but it is inactive a user novelty astatine this point.

  And if a cardinal extremity of AI is to redefine the human-computer interface — replacing the hunt motor and adjacent the interaction surface — tech companies volition person to revolutionize their hardware too.

  ... Where, then, is the adjacent large device? How astir AI-powered astute glasses? It seems this is wherever galore of Silicon Valley's biggest companies person landed truthful far.

  Rather than pivot distant from screens that beryllium successful beforehand of your face, tech companies are uncovering ways to marque glasses work. The retread whitethorn not beryllium archetypal oregon beryllium capable to supplant the smartphone.

  ... Snap announced it volition make an autarkic subsidiary for its augmented world astute glasses, Specs. The extremity is to propulsion successful extracurricular concern and instrumentality connected Meta, which has carved retired turf successful the wearables marketplace with the occurrence of its Ray-Ban Meta astute glasses.

  Read much here successful the takeaway from today's Morning Brief.

• Corporate insiders dump shares with S&P 500 astatine grounds high

  From Bloomberg:

  Corporate America is sending a gloomy connection erstwhile it comes to the sustainability of the grounds tally successful US stocks.

  Wall Street is having a coagulated commencement to its net season, helping propulsion the S&P 500 Index (^GSPC) to an all-time precocious this week. Some of the astir informed stakeholders, however, look to beryllium stepping aside.

  Almost 1,000 executives astatine astir 6,000 US-listed firms person unloaded shares this month, compared with 207 who added, resulting successful the highest sell-to-buy ratio successful 5 years, information compiled by the Washington Service show.

  While it’s hard to cognize if immoderate factors different than marketplace show dictated insiders’ decisions to bargain oregon sell, a cautious stance among firm leaders — who apt cognize their businesses champion — is simply a troubling motion with worries already swirling astir lofty valuations, soaring AI spending and a blizzard of ominous developments successful planetary affairs.

  “The determination of firm insiders has proven to beryllium a almighty awesome connected guardant returns of stocks,” said Joe Gilbert, a portfolio manager astatine Integrity Asset Management. “Between geopolitical risks and elevated equity valuations, we judge that executives are seeing these risks and utilizing this arsenic an accidental to harvest gains, which we judge is thing that investors should instrumentality enactment of.”

  Read much here.

• Gold and metallic plunge arsenic chaotic swings stone metals markets

  From Bloomberg:

  Gold (GC=F) and metallic (SIL=F) sold disconnected heavy connected Friday, cooling a record-breaking rally, arsenic a study the Trump medication is preparing to nominate Kevin Warsh for Federal Reserve seat boosted the dollar.

  COMEX - Delayed Quote • USD

  5,053.00 -301.80 (-5.64%)

  As of 11:11:17 AM EST. Market Open.

  Silver plunged much than 16% toward $96 an ounce, portion golden fell much than 7% beneath $5,000, intensifying the chaotic swings that interrupted record-breaking rallies that had stretched method indicators. A gauge of the dollar (DX-Y.NYB) roseate arsenic overmuch arsenic 0.5%, making precious metals much costly for astir buyers. Platinum (PL=F) tumbled much than 10%.

  President Donald Trump is expected to sanction Warsh arsenic his information for Fed chair, Bloomberg News reported. The erstwhile Fed politician has a longstanding estimation arsenic an ostentation hawk, but has aligned himself with the president successful caller months by arguing publically for little involvement rates. Trump said helium would denote his nominee connected Friday greeting US time.

  Gold’s determination “validates the cautionary communicative of fast-up, fast-down,” said Christopher Wong, a strategist astatine Oversea-Chinese Banking Corp. While reports of Warsh’s information were a trigger, a correction was overdue, helium said. “It’s similar 1 of those excuses markets are waiting for to unwind those parabolic moves.”

  COMEX - Delayed Quote • USD

  96.88 -17.55 (-15.34%)

  As of 11:11:17 AM EST. Market Open.

  Read much here.

• Dollar rises alongside Treasury yields with Trump reportedly acceptable to take Warsh for Fed

  From Bloomberg:

  The dollar (DX-Y.NYB) roseate with Treasury yields aft US President Donald Trump was said to beryllium preparing to nominate Kevin Warsh arsenic the adjacent Federal Reserve chair, seen arsenic a comparatively hawkish choice.

  96.79 +0.51 (+0.53%)

  As of 11:11:16 AM EST. Market Open.

  The greenback gained versus each its large peers, portion US 10-year yields (^TNX) climbed 3 ground points. Trump had settled connected Warsh, according to radical acquainted with the matter, but added that the enactment wasn’t last until a ceremonial announcement was made.

  “The marketplace cognition is that Kevin Warsh would beryllium the comparatively much accepted and little dovish enactment arsenic Fed chair, successful which lawsuit we mightiness spot less complaint cuts,” said Andrew Ticehurst, a elder strategist astatine Nomura Australia Ltd. successful Sydney.

  The marketplace moves are a motion the monthslong uncertainty implicit the adjacent Fed main is present getting person to a resolution. Warsh, a erstwhile Fed politician and 1 of the 4 finalists connected Trump’s shortlist to beryllium the adjacent cardinal slope leader, visited the White House connected Thursday, 1 of the radical said.

  Betting markets person progressively favored Warsh, with Polymarket showing his accidental of becoming the adjacent Fed seat rising supra 80% connected Friday successful Asia, arsenic enactment faded for BlackRock Inc. enforcement Rick Rieder. Flows into interest-rate futures betting connected a dovish argumentation displacement had accelerated successful caller days arsenic Rieder’s likelihood moved to the top, with investors viewing him arsenic much dovish than Warsh.

  Read much here.

• Sandisk banal rockets up, adding to monolithic YTD rally aft net beat

  Sandisk (SNDK) banal surged astir 20% successful premarket pursuing its net release, adding to its monolithic 127% rally twelvemonth to date. The representation spot shaper was the best-performing banal successful the S&P 500 successful 2025.

  The institution crushed expectations successful its fiscal 2nd quarter, arsenic AI companies person had an insatiable request for representation and retention hardware.

  NasdaqGS - Nasdaq Real Time Price • USD

  604.63 +65.33 (+12.11%)

  As of 11:21:15 AM EST. Market Open.

  Sandisk said that gross for its information halfway concern conception jumped 64% implicit the erstwhile quarter, driven by beardown adoption among AI infrastructure builders, semi-custom customers, and exertion companies deploying AI astatine scale.

  Here's what Sandisk reported for its fiscal 2nd quarter, compared to estimates compiled by Bloomberg:

  Sandisk besides raised its gross guidance for the 3rd 4th to a scope of $4.4 cardinal to $4.8 billion. The Street was expecting gross of $2.6 billion.

  “This quarter's show underscores our agility successful capitalizing connected amended merchandise mix, accelerating endeavor SSD deployments, and strengthening marketplace request dynamics, each astatine a clip erstwhile the captious relation that our products play successful powering AI and the world's exertion is being recognized,” said Sandisk CEO David Goeckeler.

• Gold ends grounds rally arsenic Fed nominee stabilizes dollar

  Bloomberg reports:

  COMEX - Delayed Quote • USD

  5,053.00 -301.80 (-5.64%)

  As of 11:11:17 AM EST. Market Open.

  Read much here.

• Microsoft signs $750 cardinal woody with AI startup Perplexity for unreality usage

  Bloomberg reports:

  Read much here.