CNBC Business News Update Market Close: Stocks Mixed, Microsoft Falls 10% For Worst Day In Nearly 6 Years, Apple Out With Strong Results 1/29/26
Jan 29, 2026
Markets close mixed with big swings in tech and energy. A sharp fall for a major software giant and standout results for a top consumer tech firm. Rising metals and copper hit new highs amid oil gains tied to geopolitical tensions. Big strategic shifts at a major EV maker as it pivots toward robotics. A quick preview of key companies reporting earnings next.
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Mixed Market, Software Stocks Sink
- Markets were mixed as the Dow rose while the S&P 500 and Nasdaq fell amid software stock weakness.
- Microsoft and ServiceNow plunged about 10%, marking severe sector pressure and a notable market divergence.
iOS As An AI Gateway
- Apple serves as a gateway for AI apps by monetizing developers and consumer access through iOS.
- Experts say iOS remains critical for companies that want to reach consumers via AI-enabled products.
Record Metals Volatility
- Metals saw extreme volatility with gold, silver, and copper hitting highs and copper briefly surging nearly 12% on LME.
- The magnitude of the copper move was described as unprecedented, signaling commodity market stress.