Pre-market on January 28, 2026
Semiconductors, Gold, Optimism
The U.S. pre-market is primarily driven by earnings reports and macroeconomic events. Below is a summary of key information for today (January 28, 2026):
📈 Index Futures Performance (as of U.S. Eastern Time morning)
· Nasdaq 100 Futures: +0.9% or +0.77%
· S&P 500 Futures: +0.36% or +0.30%
· Dow Jones Futures: Mostly flat, with a slight gain of 0.06% or a slight drop of 0.02%
💎 Key Focus
· Macro Events: The Federal Reserve will announce its first interest rate decision for 2026 at 3:00 AM Beijing Time on Thursday, January 29, with the market widely expecting rates to remain unchanged.
· Earnings Focus: Microsoft, Meta, and Tesla will report earnings after the U.S. market closes today, with the market closely watching their AI business progress and capital expenditure guidance.
Key Stock News
Below are key stocks sorted by market performance and news importance:
Strong Performers (as of pre-market)
· ASML: Up ~5%. The company reported record orders for Q4 2025 and issued strong 2026 guidance, along with announcing a €12 billion stock buyback plan.
· Texas Instruments: Surged over 7%. Despite missing Q4 earnings expectations, the company's Q1 2026 revenue and profit guidance exceeded market expectations.
· Seagate Technology: Soared over 10%. The company reported strong Q2 results and provided Q3 revenue guidance above expectations.
· F5: Jumped 13%. Q1 revenue and earnings beat estimates, with Q2 revenue guidance significantly higher than expected.
· Intel, Micron, and other chip stocks: Broadly higher. Intel rose ~4.6%-6.6%, while Micron gained ~4%-5%, driven by industry optimism.
Weak Performers or Negative News
· Qorvo: Plunged 10%. The company guided Q4 non-GAAP EPS at ~$1.20, well below analyst expectations of $1.37.
· UPS: Announced plans to cut ~30,000 jobs and close 24 facilities by end-June to restructure operations.
Other Notable Developments
· Boeing: JPMorgan raised its price target from $245 to $270.
· Gold stocks: Kinross Gold, Barrick Gold, and others strengthened pre-market as gold prices surpassed $5,300/oz.
Core Events and Market Logic
Today's market movement is primarily driven by the following themes. Watch these clues to shape your trading strategy:
· AI & Semiconductor Boom Continues: Optimistic guidance from chip leaders like ASML and Texas Instruments reinforces confidence in AI-driven long-term semiconductor growth, lifting tech sector sentiment.
· Pre-Fed Caution: Markets nearly fully expect no rate changes. Traders await Chair Powell's post-meeting remarks for clues on future rate paths (especially timing of potential cuts), while political uncertainty around Fed leadership also weighs.
· Big Tech Earnings Test: Post-close reports from Microsoft, Meta, and Tesla will be the first major test for the "Magnificent Seven." Key focus extends beyond past performance to future AI capex plans and profitability.
· Dollar Weakness & Asset Linkages: The dollar continues to weaken due to Fed independence concerns and Trump's comments on dollar depreciation, directly boosting dollar-denominated commodities like gold to new highs.
In summary, markets stand at a crossroads of critical data and events—pre-market optimism is fueled by chip earnings, but true directional moves may require Fed decisions and post-close tech earnings for clarity.
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