New York, January 26, 2026, 10:32 EST — Regular session
- The Dow Jones Industrial Average climbed 185.35 points, or 0.38%, to reach 49,284.06.
- Early gains were led by Apple and Cisco, while UnitedHealth and Boeing dragged the market down.
- Traders are on edge ahead of the Fed meeting set for Jan. 27-28 and a U.S. funding deadline looming on Jan. 30.
The Dow Jones Industrial Average gained 185.35 points, or 0.38%, hitting 49,284.06 by 10:32 a.m. EST. Earlier, it fluctuated between 49,137.65 and 49,366.37. The index had closed Friday at 49,098.71.
Wall Street’s key index kicked off the week with a modest bounce, as investors weighed a busy schedule of megacap earnings alongside the Federal Reserve’s upcoming rate decision. The trio of major U.S. stock indexes has closed the last two weeks down, dampening enthusiasm for any shocks.
Gold surged past $5,000 an ounce, with silver holding steady at record highs, underscoring ongoing demand for safe havens. Daniela Hathorn, senior market analyst at Capital.com, noted that “precious metals are likely to stay at the center of this perfect storm.” The Fed kicks off its two-day meeting Tuesday, while a Justice Department probe into Chair Jerome Powell and the looming Jan. 30 funding deadline in Washington keep political risks front and center. Reuters
Within the Dow, Cisco climbed roughly 2.5% while Apple jumped around 2.6%, driving much of the index’s early gains through a handful of pricey stocks. UnitedHealth dropped about 1.8% and Boeing slid near 1.2%, weighing on the rally.
The Dow uses price-weighting, so a big move in a high-priced stock can jolt the index more than broader shifts among its 30 stocks. That can keep the tape looking steady even if the market beneath is still unsettled.
Airline stocks slipped after a winter storm caused thousands of flight cancellations stretching from the Rockies to the East Coast. Delta and United both fell roughly 1.2% in early trading. Meanwhile, investors are eyeing a busy earnings slate this week featuring Boeing, General Motors, Meta, Microsoft, and Apple.
Precious metals stole the spotlight in early trading. Gold surged past $5,100 on Monday, hitting a new record, and has gained over 18% this year. That follows a 64% jump in 2025, which Reuters attributed to safe-haven buying, central bank purchases, and strong ETF inflows. Silver topped $100 on Friday for the first time.
But the Dow’s gains offer little shelter if the Fed signals that rates will remain elevated for an extended period, or if early tech earnings don’t justify big bets on artificial intelligence. One misstep from a major player could still drag this index down.
The Fed’s policy decision is set for Wednesday, Jan. 28, with a statement at 2:00 p.m. EST and a press conference following at 2:30 p.m. EST. After that, traders shift focus to the government funding deadline on Jan. 30 and a busy slate of corporate earnings still ahead.
