Stock Market Live Monday, January 26: S&P 500 (SPY) Little Changed Ahead of Key Earnings

By Ian Cooper Updated Jan 26, 11:43AM EST · Published Jan 26, 9:26AM EST

Quick Read

Nvidia invested $2B in CoreWeave to accelerate buildout of over five gigawatts of AI factories by 2030.
USA Rare Earth received a $1.3B loan and $277M in federal funding to reduce U.S. dependence on China.
JPMorgan raised its Apple price target to $315 from $305 on iPhone demand ahead of Thursday earnings.

Live Updates

Gold Now Above $5,100

Jan 26, 2026 at 11:42 AM EST

Last trading at $5,100, some analysts are now calling for $7,000 gold.

While a substantial number of analysts have been calling for $5,000 gold for some time, we’re now seeing calls for $7,000 gold.

According to SAMCO Securities, gold could test $7,000, driven by further geopolitical uncertainties, sky-high deficits, central bank demand, and the real interest rate environment, as noted by Business Standard. In addition, analysts at Jefferies expect gold prices to test $6,600 over the next few months.

UBS Just Reiterated Buy Rating on Nvidia

Jan 26, 2026 at 9:22 AM EST

Analysts at UBS just reiterated a buy rating on Nvidia.

As quoted by CNBC, the firm said, “Conversations on NVDA revolve mostly around the existential question of what will get the stock moving again – we still believe investors underappreciate how strong demand is and believe NVDA’s backlog may now extend well into 2027 with a sizable portion of C2027 now already booked out.”

Futures are down at the moment.

The S&P 500 is down about 0.27%. However, the SPDR S&P 500 ETF (SPY | SPY Price Prediction) is up fractionally. The Dow just turned positive as the tech-heavy Nasdaq slips 0.23%.

We’re looking for more action once some of the world’s biggest companies post earnings this week. That includes Apple, Meta Platforms, and Microsoft.

Apple Gaining Momentum on JPMorgan Boost

Apple (NASDAQ: AAPL) is up about $3 a share in premarket. All after JPMorgan boosted its price target ahead of earnings, thanks to iPhone demand. The firm reiterated its overweight rating on Apple. It also raised its price target to $315 from $305 ahead of Apple’s first-quarter earnings report on Thursday.

“We see a positive set up for the shares heading into F1Q26 (Dec-end) earnings print as AAPL shares are trading at 30x NTM P/E, below the peak multiple that is typical for the shares heading into a key iPhone product cycle (previous peak of ~32x into 5G cycle), in combination with the modest upsides in relation to both F1Q26 print and the F2Q26 outlook,” added the firm, as quoted by CNBC.

Shares of CoreWeave Jump 9% in Pre-Market

Shares of CoreWeave (NASDAQ: CRWV) are up about 9% after Nvidia (NASDAQ: NVDA) invested $2 billion in the company.

“CoreWeave’s deep AI factory expertise, platform software, and unmatched execution velocity are recognized across the industry,” Nvidia CEO Jensen Huang said in a press release. “Together, we’re racing to meet extraordinary demand for NVIDIA AI factories—the foundation of the AI industrial revolution.”

Reportedly, the agreement will allow CRWV to accelerate the buildout of more than five gigawatts of AI factories by 2030.

USA Rare Earth up 22% in Pre-Market

Last week, we noted that US Rare Earth (NASDAQ: USAR) was rocketing on heavy volume. All after analysts at Benchmark initiated a buy rating on USAR with a price target of $15.

At the time, Benchmark noted that USAR’s plans to construct a 1,600-metric-ton-per-annum oxide processing facility in Lacq, which is scheduled for commissioning in late 20, will help strengthen the supply chain for rare earth in Europe.

This morning, USAR is up about 22%, or by about $5.50 to $30.24, on news the Trump Administration took an equity stake. In fact, it’s expected to provide USAR with a loan of about $1.3 billion and $277 million in federal funding.

As noted by CNBC, “The capital infusion from the Trump administration will help USA Rare Earth advance its plan to build a magnet manufacturing plant in Stillwater, Oklahoma, and a mine at a rare earth deposit in Texas called Round Top.”

All in an effort to reduce its dependence on China