Stocks rebounded in January despite tech selloff, with Apple stock surging after earnings

From Nasdaq: 2025-01-31 13:01:33

The S&P 500 and Nasdaq suffered their worst losses since December due to DeepSeek’s AI model outperforming OpenAI’s. Despite a Federal Reserve decision to keep interest rates steady, stocks rebounded with megacap earnings reports. Tech giants like Nvidia, Microsoft, and Amazon faced challenges, while Apple stock soared after a beat-and-raise.

Apple stock surged after strong earnings, with Fortinet identified as the top stock to own in February. Visa partnered with X, while Starbucks hit a 52-week high post-earnings. United Parcel Service faced a downgrade, and Caterpillar issued a lackluster forecast. Chevron reported its first refining business loss in four years.

Next week, watch for PMI readings, the ADP employment report, and a packed earnings docket featuring AMD, Alphabet, Amazon, Palantir Technologies, and Uber Technologies. Despite market cap tumbles, there is potential for additional SPX upside.



Read more at Nasdaq: Stocks Eye First Monthly Win of 2025 Despite Tech Selloff