NASDAQ:ONB News 2 January 2026

January 31, 2026, 3:17 AM EST. Major U.S. stock indexes closed lower on Friday, with the S&P 500 down 0.43%, Dow Jones Industrials 0.36%, and Nasdaq 100 falling 1.28%. The market reacted to President Trump's nomination of Kevin Warsh as the next Federal Reserve Chair, signaling a more hawkish stance on interest rates. The 10-year Treasury yield rose, while gold prices dropped to a 1.5-week low amid long liquidation in precious metals and mining stocks. Producer Price Index data for December exceeded expectations, intensifying concerns about inflation. Mixed Fed comments highlighted uncertainty about future monetary policy. Meanwhile, a tentative deal in Congress aims to prevent a government shutdown, providing some relief. The complexity of these events underpinned Friday's cautious market sentiment heading into Q4 earnings season.