New York, Jan 19, 2026, 13:13 EST — Market closed.
- Wall Street’s cloud-related stocks drew attention Tuesday following declines in European tech giants and a drop in Nasdaq 100 futures amid fresh tariff warnings. 1
- Cloud-focused ETFs slipped in the final session, leaving investors to assess a possible gap once cash trading restarts.
- Microsoft’s earnings for Jan. 28 and Alphabet’s Feb. 4 call stand out as key moments to watch for cloud demand and spending trends. 2
Cloud computing stocks and ETFs are opening Tuesday on the back foot, as U.S. tech giants slipped in European trading and Nasdaq 100 futures declined. The move comes after U.S. President Donald Trump issued tariff threats targeting European countries. 1
U.S. stock markets were closed Monday for Martin Luther King Jr. Day, leaving investors without the usual window to adjust positions. That means much of the reaction for growth sectors, including cloud software, is set to unfold once trading resumes. 3
The Global X Cloud Computing ETF (CLOU) closed Friday down 1.34%, slipping to $21.34. Other funds in the sector saw declines too: the WisdomTree Cloud Computing Fund (WCLD) dropped 2.05% to $32.07, while the First Trust Cloud Computing ETF (SKYY) fell 0.9% to $124.20.
CLOU tracks a basket of cloud and software stocks—names known for sharp moves when risk appetite shifts. Its biggest positions are Akamai, DigitalOcean, Shopify, Zoom, and Salesforce, based on holdings data. 4
Politics took center stage Monday, overshadowing product cycles. “I’m sure that there are a lot of people that are fairly aghast at what happened over the weekend,” said Francesca Fornasari, head of currency solutions at Insight Investment, as markets absorbed Trump’s tariff threat alongside a weaker dollar. 5
Traders are set to see if this jitteriness carries over into Tuesday’s U.S. cash session, with high-valuation tech stocks in focus. Nasdaq 100 futures, which trade beyond regular hours and track the index, often serve as an early indicator. 1
After the opening bell, attention shifts to earnings. Microsoft plans to release its fiscal 2026 second-quarter results after market close on Wednesday, Jan. 28, with a webcast conference call scheduled for 2:30 p.m. Pacific time. 2
Alphabet announced its quarterly earnings call is set for Wednesday, Feb. 4, at 1:30 p.m. Pacific time. The company will cover its fourth-quarter and full-year results. 6
Investors in cloud baskets zero in on the major platforms’ updates about enterprise demand, pricing, and capital spending — these are the key indicators for software subscriptions and data-center capacity, beyond just the headline profit numbers.
There’s a definite risk here. Should tariff discussions turn into concrete policies, futures could take a hit. Cloud stocks might open weaker and remain under pressure through earnings season. Any conservative forecast on spending could trigger a stronger backlash than normal.
The immediate trigger is clear: Tuesday’s cloud ETF reopening, followed by Microsoft’s earnings on Jan. 28 and Alphabet’s call on Feb. 4—key early indicators of cloud demand as February kicks off.
