Wall Street nears a record as earnings surprises yank stocks in different directions
U.S. stocks seesawed Tuesday as big-company earnings pulled in opposite directions: a sharp drop in a major insurer weighed on the Dow, while tech and AI-linked names helped keep the broader market near record territory.
A market split between winners and losers
U.S. stocks traded in a choppy pattern on Tuesday, January 27, 2026, with the overall market hovering near record levels even as many individual stocks fell. The S&P 500 pushed higher and flirted with a fresh all-time high, while the Dow dropped as a handful of heavyweight names dragged it down. Tech-heavy shares provided support, helping the Nasdaq outperform.
The day’s tension came from a familiar theme: investors are demanding strong results after a long run-up in prices, and any stumble can be punished quickly. That dynamic was on full display as companies released quarterly results and guidance for 2026.
UnitedHealth sinks, lifting pressure across insurers
Health insurers were hit hard after UnitedHealth Group fell sharply despite posting quarterly profit that topped analysts’ expectations. The bigger issue was its outlook, which pointed to revenue that would miss Wall Street’s targets. The sector’s declines were compounded by investor reaction to a projected U.S. government rate increase for Medicare Advantage that came in below what the market had hoped for, pushing other insurers and health-related companies lower as well.
Those losses mattered for the Dow because UnitedHealth is a large component, amplifying the index’s decline even while many other parts of the market held up.
AI and infrastructure deals lift other big names
On the upside, Corning jumped after announcing a deal with Meta Platforms valued at up to $6 billion. Corning said it will supply optical fiber and cable to support data-center buildouts, and it plans to expand optical-fiber manufacturing capacity in Hickory, North Carolina. That kind of investment narrative—tied to data centers and AI infrastructure—has been a key driver of gains in recent months.
Elsewhere, General Motors and hospital operator HCA Healthcare rose after reporting results that beat expectations and after both companies announced programs to return billions of dollars to shareholders through stock buybacks.
Fed decision ahead, confidence slips
Traders also looked ahead to the Federal Reserve’s next interest-rate decision due Wednesday. Expectations in markets have centered on the Fed holding its benchmark rate steady, with investors watching for signals on the timing of potential cuts later in the year.
In addition, a new reading from the Conference Board showed U.S. consumer confidence weakened and fell to its lowest level since 2014, an update that added to concerns about how households are experiencing inflation and the broader economy.