US stocks slipped on tech, mixed results

January 30, 2026 at 21:00 UTC

4 min read

US stock market decline chart with tech sector weakness and mixed corporate earnings

Key Points

Mixed corporate results and technology weakness have weighed on US risk appetite, pushing major indexes lower.
Italy's stronger-than-expected Q4 GDP print supported European equity gains, boosting CAC, DAX and FTSE outperformance.
Company-specific beats and corporate actions drove sector moves: Verizon's Q4 beat and announced buyback lifted its shares, while Chevron's beat and dividend increase bolstered energy sentiment.
Earnings dynamics favored defensive and energy exposures, lifting consumer-defensive and energy ETFs while tech and materials ETFs lagged.

Global Market Summary

The S&P 500 (SPX) fell 0.32%, the Nasdaq Composite (^IXIC) slid 0.78% and the Dow Jones Industrial Average (DJIA) dropped 0.23% as mixed corporate results and technology weakness weighed on US risk appetite. European markets outperformed after Italy's stronger-than-expected Q4 GDP print: the CAC 40 (FRA40) rose 0.68%, the DAX (DAX) gained 0.94% and the FTSE (UKX) added 0.51%. In Asia the Shanghai Composite (000001.SS) declined 0.96% while the Nikkei (NKY) slipped 0.10%.

Top Movers

Top sectors: consumer-defensive ETF XLP rose 1.56% and energy ETF XLE gained 0.88%, while healthcare ETF XLV added 0.66%. Weakest sectors included technology ETF VGT, which fell 1.55%, and materials ETF XLB, down 1.48%. Notable stock moves: PHOE (+997.36%), TCGL (+83.86%) and RHI (+26.54%) on the upside; PFSI (-33.77%), U (-24.19%) and CVCO (-19.95%) among the largest decliners.

Macro highlights

Italy reported Q4 GDP YoY at 0.8% (prior 0.6%, consensus 0.5%), and the upside print supported European equity gains. Other scheduled releases in the provided calendar (Spain and France Q4 flash GDP and US PPI for December) are listed without reported actuals in the dataset.

News that moved markets

Verizon (VZ) beat Q4 estimates, reported record subscriber net additions, outlined upbeat 2026 guidance and announced a $25 billion buyback, prompting early share gains. American Express (AXP) posted mixed Q4 results with EPS roughly in line and revenue above forecasts; a modest EPS shortfall and higher provisions pressured the stock despite raised 2026 revenue and EPS guidance. Chevron (CVX) beat adjusted Q4 EPS, increased its dividend and reiterated 2026 production growth targets, which bolstered energy-sector sentiment. Completed transactions included Illumina's acquisition of SomaLogic; Superior Energy Services' closing of the Abaco Energy Technologies acquisition; Rio2's completion of the Condestable Mine acquisition; and HEINEKEN's completion of the acquisition of FIFCO's beverage and retail businesses. Announced deals included Tian Ruixiang's planned acquisition of an Asia AI and crypto-enabled insurance broker (title cites an expected USD 200 million revenue increase), American Tungsten & Antimony's purchase of a permitted U.S. tungsten mill, and FIP's acquisition of Paper Converters Inc.

Upcoming session watchlist

CN RatingDog Manufacturing PMI (JAN) — consensus 50.3 vs 50.1 prior, Feb 02, 01:45 AM | Signals manufacturing sector momentum and demand conditions shaping short-term growth.
US ISM Manufacturing PMI (JAN) — forecast 48.2 vs 47.9 prior, Feb 02, 03:00 PM | Indicates factory activity and demand momentum influencing growth outlook.

Key Takeaways

Mixed corporate earnings and technology weakness reduced US risk appetite, leaving S&P, Nasdaq and Dow all to finish the session lower.
Italy's stronger Q4 GDP print supported European equities, producing gains in CAC, DAX and FTSE versus US markets.
Sector moves and corporate news produced divergence: consumer-defensive and energy ETFs rose, while technology and materials ETFs underperformed amid notable stock movers.
Multiple transactions closed or were announced, including Illumina's acquisition of SomaLogic and HEINEKEN's completion of FIFCO assets, marking active M&A flow.