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Market Recap
WEEK OF JAN. 26 THROUGH JAN. 30, 2026
The S&P 500 index edged up 0.3% last week, lifting the market S&P 500 benchmark's January gain to 1.4%. The S&P 500 ended Friday's session at 6,939.03, near but slightly below the record closing high it reached earlier in the week at 6,978.60. The index also posted a record intraday high this week at 7,002.28.
The slim move came as investors parsed through quarterly earnings reports. Better-than-expected results were posted by companies including Sandisk (SNDK) and Visa (V) while Tractor Supply (TSCO) was among those with weaker-than-forecast reports.
President Donald Trump's chose Kevin Warsh, who served as a governor on the central bank's board from 2006 to 2011, as head of the Federal Reserve. Before joining the Fed, Warsh was part of the George W. Bush White House and had worked at Morgan Stanley (MS).
By sector, communication services had the largest percentage gain last week, climbing 4.2%, followed by a 3.9% increase in energy and a 1.7% advance in utilities. Consumer staples, financials, industrials, real estate and financials also edged higher.
Verizon Communications (VZ) and AT&T (T) led the gains in communication services as they reported Q4 adjusted earnings per share and revenue above analysts' expectations. Both companies also forecast 2026 adjusted EPS above analysts' mean estimate. Verizon's shares jumped 13% on the week while AT&T climbed 11%.
The advance in the energy sector came as crude oil futures reached a four-month high this week amid geopolitical tensions. Chevron (CVX) and Exxon Mobil (XOM) were among the sector's best performers as both companies reported better-than-expected fourth-quarter results amid higher oil output. Chevron's shares rose 6.1% on the week while Exxon Mobil added 4.8%.
On the downside, health care had the largest percentage loss of the week, shedding 1.7%, followed by a 1.4% decline in consumer discretionary and a 1.2% decrease in materials. Technology also edged down 0.4%.
UnitedHealth Group (UNH) was among the health care sector's hardest-hit stocks, tumbling 19% amid mixed fourth-quarter results. The company's earnings topped market expectations but revenue fell short of estimates and the health insurance company forecast 2026 revenue below analysts' expectations.
This week's earnings calendar features Walt Disney (DIS), Advanced Micro Devices (AMD), Merck (MRK), Pepsico (PEP), Alphabet (GOOG, GOOGL), Eli Lilly (LLY), Amazon.com (AMZN), ConocoPhillips (COP) and Philip Morris International (PM).
On the economic front, investors will be focused on the government's January jobs report, which is due Friday. Other economic data will include January auto sales on Monday and a preliminary reading on February consumer sentiment on Friday.
