Live Nasdaq Composite: Semiconductor Stocks Drive Gains on Fed Decision Day

By Gerelyn Terzo Updated Jan 28, 12:23PM EST · Published Jan 28, 9:56AM EST

Quick Read

Amazon is cutting 16,000 corporate jobs due to AI competition pressures.
Gold prices surged over 20% this month to above $5,300 per ounce for the first time.
Seagate Technology stock jumped 17% after reporting soaring quarterly revenue.

Live Updates

Fed Expectations

Jan 28, 2026 at 12:22 PM EST

Economists predict the Fed will hold interest rates steady for the time being before following through with a couple of rate cuts later in 2026 despite pressure from the Trump administration to provide more accommodative monetary policy.

The Nasdaq Composite has given back some of its gains today but remains fractionally higher for the time being.

Fidelity's Stablecoin

Jan 28, 2026 at 11:13 AM EST

Fidelity, an early mover in the digital asset space, intends to launch its version of a stablecoin, joining the likes of Tether, USD Coin and Dai, among others. Meanwhile, Standard Chartered recently sounded the alarm bell, saying that stablecoins stand to capture billions of dollars in deposits from U.S. banks.

The Nasdaq Composite is holding onto its gains while the S&P 500 continues to flirt with the 7,000 level.

Next-Gen AI

Jan 28, 2026 at 9:56 AM EST

AI startup Concourse has raised a whopping $12 million in Series A round, led by Standard Capital with backing from Andreessen Horowitz, CRV and Y Combinator. The startup deploys AI agents built specifically for financial tasks.

This article will be updated throughout the day, so check back often for more daily updates.

The markets are looking to extend their gains and finish January on a high note. With the broader markets swirling in record turf, including the S&P 500 clinching the 7,000 level for the first time ever, all three of the major stock market averages are seeing green, including a 0.51% gain in the Nasdaq Composite. Semiconductor stocks are a bright spot today on the heels of robust earnings prints from the likes of ASML Holding (Nasdaq: ASML | ASML Price Prediction) and SK Hynix.

All eyes are on the Federal Reserve, which wraps up its two-day meeting on the fate of short-term interest rates. Any decision would be expected by this afternoon.

Precious metals are on a tear, with the gold spot price ballooning by over 20% so far this month to hover above the $5,300/ounce level for the first time in history.

Amazon (Nasdaq: AMZN) is reportedly cutting its corporate workforce by 16,000 jobs, blaming competition in the AI era. Separately, ASML is also reducing its workforce, laying off approximately 4% of its entire workforce, largely affecting tech jobs.

Here’s a look at where things stand as of morning trading:

Dow Jones Industrial Average: 49,033.83 Up 35.42 (+0.07%)
Nasdaq Composite: 23,949.52 Up 131.41 (+0.55%)
S&P 500: 6,997.05 Up 18.01 (+0.26%)

Market Movers

Seagate Technology (Nasdaq: STX) stock is up 17% today on the heels of its quarterly earnings report fueled by soaring revenue.

Intel (Nasdaq: INTC) is participating in the wider chip-sector rally, tacking on 9.8% in today’s session alone.

Mizuho analysts are bullish on the semiconductor sector. They have improved their rating on Applied Materials (Nasdaq: AMAT) to an “outperform” rating from “neutral” and boosted the price target to $370.

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About the Author Gerelyn Terzo →

Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.