Honestly, the mood on Wall Street today felt like that moment when the music cuts out at a great party. After weeks of high-fiving over new record highs, the reality of earnings season and a stubborn inflation report finally caught up with investors.
If you're asking what did the stock close today, the short answer is: mostly red. The Dow Jones Industrial Average took the biggest hit, shedding nearly 400 points to finish at 49,191.99. The S&P 500 followed suit, slipping about 0.2% to close at 6,963.74. Even the tech-heavy Nasdaq, which usually shows some fight, edged down 0.1% to 23,709.87.
It wasn't a total bloodbath, but it was a definitive step back from the all-time peaks we saw just yesterday.
The Big Banking Blues and the "Apple Card" Hangover
You'd think a giant like JPMorgan Chase would be immune to the "meh" sentiment, but it actually led the downward charge. The bank's shares dropped 2.5% today. Why? Well, they missed on both profit and revenue.
Part of the sting came from a one-time hit related to their acquisition of the Apple Card credit card portfolio. It’s a classic case of "long-term strategic move meets short-term investor grumbling." Jamie Dimon, the bank's CEO, tried to put a brave face on it, saying consumers are still healthy and businesses are resilient. But the market wasn't buying the optimism today.
Delta’s Rough Flight
It wasn't just the banks. Delta Air Lines had a bumpy ride too, with its stock falling nearly 2.5%. They actually beat profit expectations for the fourth quarter, which usually gets a "buy" signal. But here’s the catch: their outlook for 2026 was... let’s say, cautious. When a major carrier tells you their future profit midpoint is lower than what analysts hoped for, investors tend to bail.
Inflation: The 2.7% Number That Nobody Wanted to Cheer
We also got a fresh look at the Consumer Price Index (CPI) this morning. Inflation rose 2.7% year-over-year in December. Now, this was basically what everyone expected, but "expected" doesn't mean "exciting."
Core inflation—which ignores the volatile stuff like food and gas—came in at 2.6%. That's technically the lowest we've seen since 2021. So, why didn't stocks rally? Basically, it didn't change the math for the Federal Reserve. We’re still looking at a world where interest rate cuts might not happen as fast as some of the more aggressive bulls had hoped.
"The month-over-month CPI numbers were better than expected, but it’s a bit of a mixed bag," noted Cooper Howard, a fixed-income expert at Schwab.
He pointed out that the government shutdown has caused some weird distortions in the data. Basically, investors are looking at these numbers with a massive grain of salt.
The Intel Turnaround and the AI Power Play
If you were holding chip stocks today, you actually had a pretty decent afternoon. Intel (INTC) was the star of the show, jumping 7.33% to close at $47.29.
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This move was sparked by a big upgrade from KeyBanc. Apparently, Intel’s AI and data center CPUs are basically sold out for the year. That’s huge. It reinforces the narrative that Intel is finally turning the corner in the AI arms race. AMD also caught some of that glow, finishing up about 6.4%.
What’s Happening with Gold and Bitcoin?
While the stock market was stumbling, people were looking for other places to park their cash.
- Gold: Pulled back slightly to $4,590 an ounce after hitting a record earlier in the day.
- Silver: Hit a fresh all-time high, trading around $86.40.
- Bitcoin: Stayed somewhat steady near $94,300, recovering from a morning dip toward $90,000.
Looking Ahead: The "Sugar High" is Fading
There's a growing choir of voices on Wall Street, like Barry Bannister at Stifel, warning that the "sugar high" of the last few years is wearing off. We might be looking at a "slow grind" for the rest of 2026 rather than the explosive gains we’ve gotten used to.
The S&P 500 is still up about 1.7% for the year, and the Dow is up 2.3%. That's not bad for the first two weeks of January. But the pressure is on. Companies have to prove that these record-high valuations are justified by actual, cold-hard-cash profits.
Actionable Steps for Your Portfolio
If you're feeling a bit whiplashed by the what did the stock close today results, here are a few things to consider doing this week:
- Review your bank exposure: With more big banks like Bank of America and Citigroup reporting tomorrow, expect more volatility in the financials.
- Don't chase the AI spikes: Intel's move was great, but wait for a cooling-off period before jumping in at these highs.
- Watch the 10-year Treasury: It's hovering around 4.17%. If that yield starts climbing again, it’s going to keep putting pressure on stocks.
- Check your "Defensive" holdings: In a "slow grind" year, stocks with low P/E ratios and solid dividends often outperform the flashy growth names.
We’re officially in the thick of it now. Between the Fed's independence being questioned in D.C. and the first major earnings reports of the year, the "easy money" phase of the rally might be taking a breather. Keep your eye on the earnings calendar for tomorrow morning—it’s going to be another busy one.