New York, Jan 31, 2026, 13:41 ET — Market closed.
Cloud computing stocks head into next week’s U.S. session facing earnings from two major cloud providers along with a crucial jobs report, following a turbulent finish to January that weighed on costly growth names.
The First Trust Cloud Computing ETF slipped 2.0% on Friday, ending at $119.13. WisdomTree’s cloud-focused fund dropped 1.3%, closing at $30.11.
This is crucial now, given the cloud trade is caught between two investor worries: the pace at which firms can convert hefty AI investments into revenue, and the pressure rising interest rates put on valuations based on future earnings.
Roughly a quarter of the S&500 companies are set to release earnings next week, with Alphabet and Amazon among the names on deck. The U.S. monthly jobs report lands Feb. 6, Reuters noted. “The onus is going to be on them to deliver,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors. (Reuters)
The broader market finished down Friday as investors absorbed President Donald Trump’s pick of former Fed Governor Kevin Warsh to replace Jerome Powell, combined with a hotter-than-expected producer price report and a flood of earnings releases. “Mixed tech earnings and lingering inflation pressure” added to the market’s struggles, noted Angelo Kourkafas, senior global strategist at Edward Jones. (Reuters)
Microsoft’s cloud update from earlier this week remained a key focus. CFO Amy Hood told investors that if the latest graphics processing units had gone to Azure, “the KPI (growth) would have been over 40%.” (Reuters)
Investors looking for a broad snapshot can check out the SKYY ETF, which holds major names like Arista Networks, CoreWeave, Alphabet, Amazon, Microsoft, and Oracle, based on data from First Trust’s fund. (FT Portfolios)
Microsoft slipped 0.8% to close at $430.29 on Friday. Amazon also dipped, finishing at $239.30, down 1.0%. Oracle dropped 2.6%, ending the day at $164.58. Snowflake took a bigger hit, falling 3.3% to $192.70, while Cloudflare declined 1.7% to $177.35.
Alphabet will release its earnings on Feb. 4, posting the report ahead of its conference call, the company confirmed. (Alphabet Investor Relations)
Amazon plans to release its fourth-quarter earnings on Feb. 5, followed by a conference call at 5 p.m. ET, the company announced. (Amazon News)
Still, the cloud group faces a clear downside risk: a strong jobs report could drive rate expectations higher. Plus, if major cloud providers ramp up capital spending without matching demand, investors might hit the sell button once more.
Markets reopen Monday with eyes on any fallout from recent rates moves and Fed-chair comments. Focus then shifts sharply to Alphabet’s Feb. 4 earnings, Amazon’s Feb. 5 report, and the U.S. jobs data due Feb. 6.
