What a Year Already: Dow Slides as Trump Names Kevin Warsh as Next Fed Chair
January felt like much more than just one month on Wall Street, and Friday’s session did little to slow the pace.
The Dow Jones Industrial Average fell 179 points, or 0.4%, closing out a volatile end to the month. While the Dow gained 1.7% in January, those gains were heavily front-loaded. The index has now declined for three consecutive weeks, marking its longest weekly losing streak since December 2024, according to Dow Jones Market Data.
Still, zooming out paints a different picture: January marked the Dow’s ninth straight monthly gain, its longest winning streak since 2018.
January Wrap: Stocks Finish Higher Despite Late Weakness
Other major indexes also slipped Friday:
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The $S&P 500(.SPX)$ fell 0.4% on the day but finished up 1.4% for the month
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The Nasdaq Composite dropped 0.9% Friday yet still gained 0.9% in January
The uneven finish capped a month defined by policy uncertainty, earnings volatility, and geopolitical risk, leaving investors both encouraged by economic resilience and fatigued by nonstop headlines.
Trump Officially Taps Kevin Warsh for Fed Chair
Adding to the market’s cognitive load, Trump announced he will nominate Kevin Warsh, a former Federal Reserve governor, to replace Jerome Powell as chair of the central bank.
Fed Rate Cut
Warsh has criticized the Fed for failing to properly account for:
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Government spending
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Liquidity levels and money supply
Those, he argues, are the true engines of inflation.
Market Snapshot
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Dow Jones Industrial Average: -0.36%
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S&P 500: -0.43%
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Nasdaq Composite: -0.94%
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Hot stock: $Deckers Outdoor(DECK)$ (+19.5%)
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Biggest loser: $AppLovin Corporation(APP)$ (-16.9%)
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Best sector: Consumer Staples (+1.4%)
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Worst sector: Materials (-1.8%)
What to Watch Next Week
February begins with several key catalysts:
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U.S. jobs report from the Bureau of Labor Statistics on Friday (pending resolution of funding issues in Congress)
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The busiest week of earnings season, with more than 115 S&P 500 companies reporting
Notable earnings include:
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$Palantir Technologies Inc.(PLTR)$ , Walt Disney (Monday)
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$Advanced Micro Devices(AMD)$ , Merck (Tuesday)
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$Alphabet(GOOG)$ , Eli Lilly (Wednesday)
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Amazon, Bristol Myers Squibb (Thursday)
With earnings largely beating expectations so far, and a new Fed chair nominee entering the spotlight, markets are bracing for another headline-driven stretch…
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- ColinThorndike·01-31 22:14Rollercoaster month, mate! Fed chair news adds spice. [吃瓜]LikeReport
