US stock market on the move today: Dow and S&P 500 climb as Nasdaq slips. The Dow climbed 190 points to 49,082.79, gaining 0.39%, while the S&P 500 edged up to 6,944.28, barely above flat. In contrast, the Nasdaq Composite slipped to 23,443.51, down 0.08%, reflecting renewed pressure on mega-cap tech and artificial intelligence leaders.
The divergence came after one of the most violent cross-asset sell-offs in years. Gold plunged nearly 10%, silver collapsed around 30% in a single session, and bitcoin briefly dropped below $80,000 for the first time since April. Monday brought partial relief. Gold rebounded above $4,800, silver jumped nearly 5%, and bitcoin clawed back to around $78,600. That recovery helped stabilize broader risk sentiment, but it did not fully rescue growth-heavy technology stocks.
At the same time, Wall Street faced a dense mix of catalysts. Investors digested a possible leadership change at the Federal Reserve, major earnings from tech giants, renewed uncertainty around AI spending, and an upcoming U.S. jobs report that could reshape interest-rate expectations. The result was a market moving in opposite directions at once — defensive blue chips rising, while high-valuation growth names struggled.
Why the Dow Jones is rising while Nasdaq is falling today
The Dow’s advance was driven by rotation rather than broad optimism. Investors favored industrials, energy-linked names, and defensive stocks after last week’s commodity shock rattled confidence. Companies with stable cash flows and lower valuation multiples attracted inflows as traders reduced exposure to volatile growth assets.
By contrast, the Nasdaq remained under pressure due to weakness in AI-linked leaders. The primary weight on the tech-heavy Nasdaq today was NVIDIA Corporation (NVDA), which saw shares slide 2.12% to $187.07. The decline followed reports from the Wall Street Journal that Nvidia’s massive $100 billion investment plan into OpenAI has stalled. CEO Jensen Huang clarified in Taipei that the figure was a “ceiling” rather than a binding commitment, shifting the narrative from a guaranteed revenue anchor to a cautious, step-by-step approach.
Other technology heavyweights also struggled as investors questioned whether current earnings growth can justify elevated valuations. The Nasdaq’s modest decline masked sharper moves beneath the surface, with several high-profile tech stocks sliding more than the index itself.
Gold, silver and bitcoin rebound after a historic crash
The recovery in precious metals and cryptocurrencies followed extreme selling pressure late last week. Silver’s 30% collapse on Friday marked its worst one-day performance since 1980, a shock that rippled through futures markets and forced margin-related selling across assets. Gold fell nearly 10%, while bitcoin sank below key technical levels. On Monday, those assets stabilized. Spot gold rose 1.16% to around $4,800, while silver jumped nearly 5%, trimming some of the historic losses. Bitcoin rebounded more than 2%, easing fears of a deeper crypto capitulation.
This rebound mattered for equities. As metals and crypto recovered from their lows, equity futures pared losses and risk-off sentiment softened. Still, the scale of last week’s crash left investors cautious, especially toward assets perceived as speculative or liquidity-sensitive.
Earnings season intensifies as big tech faces scrutiny
Corporate earnings remained a central focus. More than 100 S&P 500 companies are scheduled to report this week, including Amazon and Alphabet. While overall earnings growth has been solid, the market has punished even minor disappointments.
Microsoft recently experienced a sharp post-earnings sell-off, reinforcing investor sensitivity to forward guidance rather than headline results. On Monday, Disney reported earnings that beat expectations, yet its shares still fell 6%, highlighting the market’s unforgiving tone.
Despite these reactions, Deutsche Bank strategists noted that earnings growth is tracking at its strongest pace in four years. The disconnect suggests investors are reassessing valuations rather than doubting corporate profitability outright.
Jobs report and Fed uncertainty weigh on sentiment
Macroeconomic uncertainty added another layer of tension. Wall Street is bracing for the January U.S. jobs report, due Friday. Economists surveyed by Dow Jones expect just 55,000 jobs added, a sharp slowdown that could influence Federal Reserve policy expectations.
Markets are also adjusting to political developments. Stocks sold off late last week after President Donald Trump nominated Kevin Warsh as the next Federal Reserve chair. If confirmed, Warsh would replace Jerome Powell later this year, introducing uncertainty around future interest-rate policy at a critical moment for inflation and growth.
The prospect of a policy shift has made investors more selective, favoring balance-sheet strength and near-term cash generation over long-duration growth stories.
Today’s hot stocks: biggest gainers and losers
Market activity remained heavy in select names as investors rotated sharply across sectors. Aquestive Therapeutics surged 37% to $4.05 on volume of 24 million shares, marking one of the strongest percentage gains of the session. The stock traded well above its recent lows, signaling aggressive speculative interest.
On the downside, Elong Power Holding collapsed more than 85% to $2.06, extending extreme volatility after its recent spike. The move stood out as one of the sharpest single-day declines among U.S.-listed small caps.
Mega-cap pressure weighed on sentiment as NVIDIA fell over 2% to $187, reflecting investor caution around AI spending headlines. BitMine Immersion Technologies also slid more than 5%, tracking weakness in crypto-linked equities.
Elsewhere, Oracle gained modestly after outlining plans to raise up to $50 billion to expand AI infrastructure. Intel edged higher, while Verizon climbed nearly 2% as defensive stocks attracted inflows.
Rare-earth exposure drew strong demand. USA Rare Earth jumped more than 13%, while Palantir Technologies advanced nearly 2%, extending its recent momentum.
Commodities update: oil slides while gold and silver rebound
Energy markets remained under pressure. WTI crude fell 4.4% to $62.35, while Brent crude dropped more than 4% to $65.16, reflecting demand concerns. Natural gas posted an even sharper decline, sliding 18%.
Precious metals stabilized after last week’s historic selloff. Gold rebounded to $4,800, rising 1.16%, while silver jumped nearly 5% to $82.41, trimming losses after its worst one-day crash since 1980.
Crypto market today: bitcoin leads rebound, but volatility remains high
Cryptocurrencies staged a partial recovery. Bitcoin climbed over 2% to $78,611, bouncing from recent lows below $80,000. Ether rose nearly 3.5%, while Litecoin and XRP also posted solid gains.
Despite the rebound, the Nasdaq Crypto Index fell more than 7%, highlighting continued volatility and cautious positioning after last week’s sharp liquidation.