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Stock market today: Dow, S&P 500, Nasdaq futures mixed with Fed meeting, Big Tech earnings on deck

January 26, 2026
Markets are being dragged in opposite directions, with tech leading an upward charge as tariffs, healthcare, and political insecurity weigh on investors. Read More...

Us stock futures were a mixed bag Monday evening as Wall Street headed into a packed earnings week and investors look ahead to the Federal Reserve’s upcoming interest rate decision.

Futures tied to the Dow Jones Industrial Average (YM=F) fell around 0.3%, amid a sharp decline from UnitedHealth (UNH). S&P 500 futures (ES=F) hovered just below the flatline, while Nasdaq 100 futures (NQ=F) inched up 0.1%.

During Monday’s regular session, stocks moved higher to start the week, supported by gains in major technology names. Shares of Apple (AAPL), Meta Platforms (META), and Microsoft (MSFT) advanced ahead of their earnings reports later this week.

Earnings season ramps up significantly in the days ahead, with more than 90 S&P 500 companies scheduled to report. That slate includes several members of the so-called “Magnificent Seven,” with Meta, Microsoft, and Tesla (TSLA) set to release results on Wednesday, followed by Apple on Thursday.

Investors are also bracing for the Federal Reserve’s first policy decision of the year. While the Fed is widely expected to hold its benchmark rate steady in a range of 3.5% to 3.75%, traders will be watching closely for signals on the timing of future rate cuts.

Meanwhile, investors are grappling with new risks from Washington. President Trump said late Monday that tariffs on South Korean products — including autos, pharmaceuticals, and lumber — would be raised to 25% from 15%. Trump cited delays in South Korea’s legislature approving a trade agreement reached with the US last summer.

A government shutdown is also looming as Senate Democrats are attempting to block a bill funding the Department of Homeland Security following federal agents killing Alex Pretti, an American citizen, in Minneapolis.

On the economic calendar, Tuesday brings updated readings on consumer confidence and home prices. Corporate earnings due Tuesday include results from General Motors (GM), American Airlines (AAL) and Boeing (BA). Elsewhere in corporates, UnitedHealth shares and other insurer stocks sank after a report said the US plans to keep steady the rates the Medicare program pays insurers.

LIVE 1 update

  • Health insurers plunge in after-hours trade

    Extended trading has seen stocks across a range of health insurers plummet. The drop has been sparked by a report from the Centers for Medicare & Medicaid Services (CMS) that payment year-over-year will increase by an average 0.09% for 2027. This keeps payments relatively flat in a move well below Wall Street expectations.

    Humana (HUM) saw its stock value drop 12.5% following the payment rate announcement.

    CVS Health (CVS) stock dropped over 10% before settling at a 9.4% drop through the evening.

    UnitedHealth Group Incorporated (UNH) shares dropped 8.6% with earnings for the beleaguered company due before the open on Tuesday. The drop is expected to weight down on the Dow Jones (^DJI) when trading resumes.

    The Wall Street Journal has reported on the CMS rate over the past week, with an examination into health insurer billing revealing that government watchdogs have been concerned over pay practices in the health insurance industry.

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Indices by TradingView
Indices by TradingView