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postUS stocks opened mixed on Wednesday as Wall Street found some calm after a tech-led slide amid a fresh wave of earnings and investors waited for Alphabet (GOOG, GOOGL) results to reveal the company’s AI mojo.
The blue chip-heavy Dow Jones Industrial Average (^DJI) turned higher, picking up roughly 0.5%. The S&P 500 (^GSPC) slipped just below the flatline, while the Nasdaq Composite (^IXIC) fell roughly 0.6% after tech stocks bore the brunt of the selling on Tuesday.
Wall Street is trying to find its feet after AI disruption fears fueled a rush out of software stocks — spilling over into a deep global sell-off that hit Europe and Asia markets alike. Meanwhile, broader AI gloom has helped spur the rotation from high-profile tech names into value stocks, with Nvidia (NVDA) and Microsoft (MSFT) both taking a hit.
The spotlight is on Alphabet (GOOG) and Arm Holdings (ARM) results on Wednesday, with the focus on AI demand. After that, the countdown will begin for Amazon’s (AMZN) quarterly report on Thursday.
Even better-than-expected earnings are no longer enough to convince the market, JPMorgan warned, unless the company reporting can show that AI will be a tailwind rather than a headwind. Advanced Micro Devices (AMD) shares sank around 13% as the chipmaker’s weak sales outlook cast doubt on its ability to take on AI bellwether Nvidia.
Pharma fortunes diverged as Eli Lilly‘s (LLY) stock jumped after it posted an upbeat 2026 profit forecast thanks to soaring demand for its weight-loss drugs. But shares in rival Novo Nordisk (NVO, NOVO-B.CO) tumbled after the maker of Ozempic and Wegovy shocked investors by forecasting a steep drop in sales.
Elsewhere in earnings, Chipotle‘s (CMG) stock retreated after the burrito chain reported another quarter of declining customer traffic. On the upside, Supermicro (SMCI) shares popped after the server maker upped its annual sales forecast.
Meanwhile, the gold (GC=F) comeback continued, rising above $5,000 an ounce as US and Iran actions at sea stoked a search for safe havens. At the same time, dip buyers continued to flock to precious metals following a steep pullback from record highs.
In the labor market, employers added just 22,000 jobs in January, according to data released Wednesday morning from ADP, well below consensus estimates of 45,000. The private data has taken on outsized importance amid the delay of federal jobs data from the partial government shutdown that ended Tuesday.
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US stock market opens on shaky footing
US stocks opened on wobbly ground to start Wednesday’s trading session as the market looked to steady after a tech-led slide amid a fresh wave of earnings, while investors waited for Alphabet (GOOG, GOOGL) results to reveal the company’s AI mojo.
The blue-chip Dow Jones Industrial Average (^DJI) rose on Wednesday morning, picking up roughly 0.5%. The S&P 500 (^GSPC) hovered just above the flat line after swinging between small gains and losses, while the tech-heavy Nasdaq Composite (^IXIC) ticked lower after tech stocks bore the brunt of the selling on Tuesday.
Wednesday’s spotlight for Wall Street and Main Street alike will focus on earnings from Alphabet (GOOG) and Arm Holdings (ARM) results on Wednesday, with investors look for any signs of growing or shrinking AI demand. Those results will be followed by Amazon’s (AMZN) quarterly release on Thursday.
Elsewhere in the market, gold (GC=F) continued to regain ground, rising above $5,000 an ounce on tensions between Washington and Tehran, while Bitcoin (BTC-USD) continued its plunge, crossing below $75,000.
In the labor market, employers added just 22,000 jobs in January, according to data released Wednesday morning from ADP, well below consensus estimates of 45,000. Friday’s planned federal jobs report has been indefinitely delayed by the partial government shutdown that ended Tuesday.
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ADP: US adds 22,000 jobs in January, falling far short of estimates
US private employers added 22,000 jobs in January, according to data released by ADP, falling far below analyst estimates of 45,000 jobs added.
The reading on private payrolls, released Wednesday morning by ADP, fell short of all economist estimates compiled by Bloomberg, a potential sign of a still-cooling labor market. January’s additions also fell short of December’s additions of 41,000.
US economists at Deutsche Bank noted in a report Wednesday morning that January “tends to be the largest net job loss month as seasonal hiring ahead of the holidays unwinds.”
The healthcare sector was a standout for January job growth, ADP said, adding 74,000 jobs, while manufacturing continued its slowdown, shedding private payrolls every month since March 2024.
“Job creation took a step back in 2025, with private employers adding 398,000 jobs, down from 771,000 in 2024,” ADP chief economist Nela Richardson said in a statement. “While we’ve seen a continuous and dramatic slowdown in job creation for the past three years, wage growth has remained stable.”
Under normal circumstances, the market would have gotten a wider reading on the state of the labor market in the federal government’s usual jobs report on Friday. However, the BLS has said that the report’s release will be delayed due to the partial government shutdown, which ended on Tuesday.
That means that the week’s private data releases — from ADP on Wednesday and from the job outplacement firm Challenger, Gray & Christmas with layoffs announcements on Thursday — will take on increased importance as investors search for a read on labor.
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The SpaceX mega merger boosts the Musk trade
Yahoo Finance’s Hamza Shaban writes in today’s Morning Brief:
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Silicon Labs stock jumps after Texas Instruments acquisition news
Silicon Laboratories’ (SLAB) stock soared 52% before the bell on Wednesday after Texas Instruments (TXN) announced it would be buying the chip designer in a deal worth $7.5 billion.
The deal will allow Texas Instruments to expand its business into wireless connectivity chips.
Reuters reports:
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Eli Lilly stock rises after reporting upbeat 2026 profit forecast
Eli Lilly (LLY) stock jumped 7% before the bell on Wednesday after the pharmaceutical group provided a 2026 profit forecast above Wall Street estimates. The company said it hopes demand for its weight-loss drugs rises as it prepares to release its oral weight-loss pill this year.
Reuters reports:
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Bitcoin-led crypto rout erases nearly $500 billion in a week
Bitcoin (BTC-USD) drifted lower before the bell, eyeing a break below $76,000 per token to continue its slump.
The digital currency has plunged about 40% since notching an all-time high in October, sparking a warning from Michael Burry. “The Big Short” trader said the plummet could cascade into a self-reinforcing “death spiral” that could hit companies with big bitcoin treasuries.
Bloomberg reports:
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Alphabet set to report Q4 earnings in test of stock’s rally amid Google’s AI wins
Microsoft’s earnings stumble has intensified the focus on results from megacap names as AI worries pile pressure on tech stocks.
The next highlight is Alphabet (GOOGL, GOOG), set to report Q4 results after market close on Wednesday amid growing optimism from Wall Street for the Google parent’s AI leadership.
Yahoo Finance’s Laura Bratton reports:
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Supermicro stock jumps after raising annual revenue forecast
Supermicro (SMCI) stock jumped 11% before the bell on Wednesday after the server maker raised its annual revenue forecast on Tuesday, citing continued strong demand for its AI servers driven by companies expanding their data center capacity.
Reuters reports:
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Enphase jumps after earnings top analysts estimates
Enphase Energy (ENPH) stock soared 20% during premarket hours after the company’s profit and revenue beat analysts’ estimates. The technology company’s shares have risen 10% over the past month, but are down almost 42% for the year.
The AP reports:
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Chipotle stock sinks after company reports Q4 same-store sales drop 2.5%
Chipotle (CMG) stock dropped 5% during premarket trading on Wednesday. The burrito-bowl chain said on Tuesday afternoon that same-store sales fell in the fourth quarter and told investors it expects no sales growth in 2026 as it continued to navigate a decline in traffic.
Yahoo Finance’s Brooke DiPalma reports:
Read the full earnings story here.
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Indian tech stocks plunge as Anthropic AI tools spark workforce concerns
Reuters reports:
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Nvidia reportedly nearing end to $20 billion investment deal into OpenAI
Bloomberg reports:
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