Stocks mixed, chip stocks up, FOMC expected to pause rate cuts

From Nasdaq: 2025-01-29 13:48:46

Stocks are mixed today, with the S&P 500 down -0.28%, the Dow up +0.16%, and the Nasdaq down -0.33%. Chip stocks like ASML Holding NV are climbing on strong Q4 order bookings. The FOMC meeting results are awaited. US MBA mortgage applications fell -2%. Earnings season is in full swing.

Overseas markets are up, with the Euro Stoxx 50 rising +0.75%. Interest rates are stable, with T-notes slightly higher. European bond yields are moving lower. The ECB is expected to cut rates by 25 bp. US stock movers include Packaging Corp, Danaher, and Nvidia down, while T-Mobile US and F5 Inc are up.

Chip stocks like ASML Holding NV are leading gains today, with Advanced Micro Devices and others also up. T-Mobile US is up +8%, while F5 Inc is up +10%. Starbucks and Henry Schein are also up. Norfolk Southern and Automatic Data Processing are among the gainers. Earnings reports for 1/29 include companies like Microsoft, Tesla, and Meta Platforms.



Read more at Nasdaq: Stocks Slip as FOMC Expected to Pause Rate Cuts