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Investing.com -- DraftKings (NASDAQ:DKNG) stock fell 7% and Flutter Entertainment (NYSE:FLUT) shares dropped 2% after New York state wagering data revealed weaker-than-expected performance.

New York state gross gaming revenue (GGR) declined 31% YoY while handle increased just 2% YoY for the week ended January 25, resulting in what JPMorgan analyst Daniel Politzer described as "a very unfavorable" 4.7% hold rate. This marks the fourth consecutive week of low or negative handle growth in New York, following a December where handle broadly declined across the United States.

"On top of low hold, this weekly result won’t do much to quell investor unease re: handle growth," Politzer noted in his analysis. The analyst added that first-quarter-to-date, GGR is tracking 13% higher YoY, while handle—the total amount of money wagered—is tracking 3% lower YoY, with hold of 10.5% (up 150 basis points YoY).

The disappointing data comes at a critical time for sports betting companies, which typically see significant activity during the NFL playoff season leading up to the Super Bowl.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- Wall Street slid on Friday, as risk-off sentiment gripped market participants. A spectacular unwinding of the precious metals trade, along with hotter-than-expected producer inflation data, clouded the mood. The big news of the day was President Donald Trump’s nomination of former Federal Reserve governor Kevin Warsh as the new central bank chair. 

At 13:48 ET (18:48 GMT), the benchmark S&P 500 index dropped 0.7% to 6,918.90 points, the tech-heavy NASDAQ Composite slipped 1% to 23,442.96 points, and the blue-chip Dow Jones Industrial Average fell 0.8% to 48,659.91 points.

After a massive runup, precious metals cratered as investors locked in their massive gains. Gold prices were headed for their worst day in decades, while silver was headed for its worst day ever.  

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Warsh nominated for Fed chair role

"(Warsh) will go down as one of the GREAT Fed Chairmen, maybe the best," Trump said on his Truth Social service in announcing his pick. 

Warsh had been considered one of the frontrunners for the job. His nomination comes at a time when Trump is at odds with current Fed Chair Jerome Powell over the state of interest rates.

Trump has long ridiculed Powell for not lowering rates and has threatened to fire him. His administration has opened an investigation into the central bank chief, an action that Powell in an extraordinary move said was because of the Fed not taking rate decisions based on the president’s preference. 

"Market moves are relatively muted considering the magnitude of the change. That’s largely because Warsh was both an unsurprising pick and someone who is already a known figure in Fed circles," Steve Sosnick, chief strategist at Interactive Brokers, told Investing.com.

Warsh served as a Fed Governor from 2006 to 2011. He lost out to Powell for the Fed chair role in 2017. Recently, Warsh has largely aligned himself with Trump’s calls for lower rates in the past year, but was a long-time critic of the ultra-loose monetary policy pursued by the Fed since the financial crisis, including the central bank’s expanded balance sheet.

"Stocks may be a bit disappointed in that he is not particularly dovish – odd considering that the president seemed to really want someone who would share his desire for lower rates," Sosnick added. 

Warsh’s nomination will likely ease concerns about the independence of the Fed in light of his history and past hawkishness.  

Elsewhere, Trump publicly endorsed a bipartisan spending deal negotiated by Senate Republicans and Democrats that would avert a looming government shutdown, posting support on Truth Social and urging cooperation.

The compromise would fund most federal agencies while leaving contentious immigration issues for further negotiation.

Reports said Democrat and Republican leaders had also agreed to the deal, although it remained unclear when Congress will vote on the matter. Lawmakers have until midnight, Friday, to release more spending for the federal government. 

Hot December producer inflation

Traders also received some economic data before the opening bell that further reinforced the Fed’s decision earlier this week to hold interest rates steady.

The core December producer price index (PPI) came in 0.7% higher on a M/M basis, and 3.3% higher on a Y/Y basis. Both figures were well above the consensus estimates. 

The delayed PPI data suggested that inflation was still very much a sticky problem. 

"PPI data was hot. The three month and six month moving averages hottest since 2022," Diane Swonk, chief economist at KPMG U.S., said. 

"The components that feed into the Federal Reserve’s target measure of inflation, the PCE index were not as bad but underscore why the Fed needs to pause and see what shows up. It is the reason that Chair Powell was cautious on not declaring victory over inflation yet," she added.  

Apple’s iPhone sales surge

In the corporate sector, investors received more earnings from the likes of Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), American Express (NYSE:AXP), and Verizon (NYSE:VZ).

After the close Thursday, Apple (NASDAQ:AAPL) comfortably beat profit and revenue expectations for the holiday quarter, its fiscal first quarter, enjoying its best quarterly iPhone sales growth performance in over four years.

iPhone sales jumped 23.3% year-on-year to $85.27 billion, marking the biggest increase since the fourth quarter of 2021.

The tech giant also forecast higher-than-expected revenue growth of up to 16% for the March quarter, powered by strong demand for its iPhones and a sharp rebound in China and accelerating demand in India.

Still, Apple’s shares slipped over 1% lower as sales in other parts of the company were less positive.

Verizon (NYSE:VZ) stock jumped after the telecoms giant reported fourth-quarter earnings and revenue that exceeded expectations, while providing an upbeat outlook for 2026 that signals the beginning of a strategic turnaround. 

Chevron (NYSE:CVX) stock rose after its oil major’s fourth-quarter profits fell but came in ahead of estimates as it focused on cutting costs and making its operations more efficient to contend with lower crude prices throughout 2025.

In other moves, SanDisk (NASDAQ:SNDK) shares surged after the storage-chip maker delivered a significant profit beat and raised guidance, as demand for data-center and AI-related memory products outpaced forecasts.

Gold, silver bloodbath

Gold prices crashed, as Warsh’s nomination quelled central bank independence concerns. Those worries had added to gold’s lure as a safe haven, contributing to the yellow metal’s recent massive runup.

After nearing $5,600/oz early on Wednesday, profit-buyers finally stepped in to lock some profits, halting Spot gold’s eight-day win streak.  

Spot gold was last down 9.4% to $4,857.91/oz, while Gold Futures for April fell 8.8% to $4,889.70/oz.  

Other precious metals also slumped on Friday after logging wild swings this week. Spot silver slid a whopping 26.3% to $84.15/oz, tumbling from a Thursday record high, while spot platinum slid 19.2% to $2,115.30/oz. 

Oil prices fell, halting a three-day rally, though they were on track for hefty weekly gains as traders focused on potential U.S. military action against Iran. 

Brent Oil Futures were last down 1.1% to $68.86 a barrel, and Crude Oil WTI Futures were also lower by 1.1% to $64.72 a barrel.

Both benchmarks were set to gain over 7% this week.

The Organization of Petroleum Exporting Countries and allies, known as OPEC+, is set to meet on Sunday, with recent reports indicating that the cartel is likely to keep its output unchanged.

Ambar Warrick, Ayushman Ojha, and Peter Nurse contributed to this report

Friday’s market has seen significant swings in various stocks based on news and other factors. Today, stocks like Tesla (TSLA) are gaining, while others like AMD (AMD) are facing declines. Below are highlights of some of the biggest stock movers, from mega-caps to small caps.

Mega-Cap Movers (Market Cap:$200 billion USD or higher)

• KLA-Tencor Corp (KLAC); -13.58%
• Advanced Micro Devices (AMD); AMD quickly falls 5.1%; -5.13%
• Applied Materials Inc (AMAT); -3.84%
• Lam Research Corp (LRCX); -4.05%
• Tesla Motors (TSLA); Elon Musk’s SpaceX is said to consider merger with Tesla or xAI - Bloomberg; +4.6%
• Intel Corp (INTC); -2.88%
• American Express (AXP); American Express nearing deal for the last office tower at NYC’s WTC; -3.07%
• Palantir Technologies Inc (PLTR); -2.75%
• Metropcs Communications (TMUS); +4.05%
• Facebook Inc (META); -2.81%

Large-Cap Stock Movers (Market Cap:$10-$200 billion USD)

• Unity Software Inc (U); -22.41%
• Coeur d’Alene Mines Corp (CDE); -14.41%
• Deckers Outdoor Corp (DECK); +16.83%
• Rocket Companies Inc (RKT); -13.22%
• Hecla Mining Comp (HL); -11.51%
• Applovin (APP); -12.49%
• AngloGold Ashanti Ltd (AU); -10.76%
• Roblox Corp (RBLX); -13.03%
• Newmont Mining (NEM); -9.52%
• Western Digital (WDC); -11.44%

Mid-Cap Stock Movers (Market Cap:$2-$10 billion USD)

• Pennymac Fnl Ser (PFSI); -31.1%
• Robert Half Intl (RHI); Robert Half shares surge after beating Q4 expectations; +28.42%
• Integrated Electr (IESC); IES Holdings shares fall 3% as Q1 earnings miss overshadows revenue beat; -21.01%
• Cavco Industries (CVCO); Cavco Industries shares slip 4% as Q3 earnings, revenue fall short of estimates; -17.18%
• Mudrick Capital A (HYMC); -15.37%
• Ivanhoe Electric Inc (IE); -12.46%
• Applied Opt (AAOI); +14.99%
• Aura Minerals NAQ (AUGO); -10.94%
• MSCI Global Gold Miners Fund (RING); -11.18%
• Buenaventura Mining (BVN); -10.32%

Small-Cap Stock Movers (Market Cap:$300 million -$2 billion USD)

• TechCreate (TCGL); +145.04%
• Red Rock Acquisition (NAMM); -28.85%
• Junee (SUPX); SuperX begins production at Japan supply center, secures orders; -22.24%
• Lexicon Pharmaceuticals (LXRX); Lexicon Pharmaceuticals launches public offering of common stock; -21.18%
• SLVR (SLVR); -15.63%
• WeShop Holdings Ltd (WSHP); -18.71%
• Vista Gold Corp (VGZ); -16.71%
• Solowin Holdings (AXG); -18.86%
• AXT Inc (AXTI); +17.7%

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This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Earnings season continues, below we highlight companies expected to report earnings the next trading day so you can prepare for the action. Leading the charge on Monday are several market heavyweights including Palantir Technologies, NXP Semiconductors, Walt Disney, IDEXX Laboratories, and Simon Property Group, offering investors a diverse mix of tech, entertainment, real estate, and industrial sectors to monitor.

Earnings Before the Open

• Alliance Resource (ARLP) - EPS estimate: $0.624, Revenue estimate: $555.1M

• Delphi Automotive (APTV) - EPS estimate: $1.84, Revenue estimate: $5.09B

• TDK Corp (TTDKY) - EPS estimate: $0.2123, Revenue estimate: $3.96B

• Julius Baer Group Ltd (JBAXY) - EPS estimate: $0.5777, Revenue estimate: None

• Hess Midstream Partners LP (HESM) - EPS estimate: $0.7198, Revenue estimate: $417.05M

• IDEXX Laboratories (IDXX) - EPS estimate: $2.93, Revenue estimate: $1.07B

• Perkinelmer (RVTY) - EPS estimate: $1.55, Revenue estimate: $758.53M

• Twist Bioscience Corporation (TWST) - EPS estimate: -$0.428, Revenue estimate: $100.72M

• Tyson Foods (TSN) - EPS estimate: $0.9268, Revenue estimate: $14B

• NAPCO Security Technologies (NSSC) - EPS estimate: $0.3203, Revenue estimate: $47.8M

• Disney (DIS) - EPS estimate: $1.57, Revenue estimate: $25.62B

Earnings After the Close

• Mgic Inv (MTG) - EPS estimate: $0.7528, Revenue estimate: $308.19M

• Woodward (WWD) - EPS estimate: $1.66, Revenue estimate: $890.37M

• Kforce (KFRC) - EPS estimate: $0.4689, Revenue estimate: $328.79M

• Flexsteel Industries (FLXS) - EPS estimate: $0.79, Revenue estimate: $107.51M

• NewJersey Resources Corp (NJR) - EPS estimate: $1.01, Revenue estimate: $549.2M

• HCP Inc (DOC) - EPS estimate: $0.0687, Revenue estimate: $691.7M

• DaVita Inc (DVA) - EPS estimate: $3.24, Revenue estimate: $3.51B

• Palantir Technologies Inc (PLTR) - EPS estimate: $0.2297, Revenue estimate: $1.32B

• Two Harbors Investment Corp (TWO) - EPS estimate: $0.3694, Revenue estimate: -$9.15M

• Simon Prop Grp (SPG) - EPS estimate: $1.84, Revenue estimate: $1.49B

• Rambus Inc (RMBS) - EPS estimate: $0.68, Revenue estimate: $188.21M

• Capital Southwest (CSWC) - EPS estimate: $0.574, Revenue estimate: $58.01M

• NXP Semiconductors (NXPI) - EPS estimate: $3.3, Revenue estimate: $3.3B

• Teradyne Inc (TER) - EPS estimate: $1.36, Revenue estimate: $969.33M

• Ashland Inc (ASH) - EPS estimate: $0.2327, Revenue estimate: $402.05M

• Ono Pharmaceutical Co Ltd (OPHLY) - EPS estimate: $0.0908, Revenue estimate: $830.2M

• Fabrinet (FN) - EPS estimate: $3.25, Revenue estimate: $1.08B

Be sure to check back daily for updates and insights into the earnings season and real-time results at Investing.com’s Earnings Calendar and Headlines section. Do you want to trade the earnings of the biggest companies like a pro? Then get InvestingPro now and access over 1000 metrics that will give you a significant advantage in the shark tank that is Wall Street. Click here.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

As traders approach another pivotal day for financial markets, a series of crucial decisions and economic data releases that could sway market dynamics are expected on Monday, February 2, 2026. The manufacturing sector will be in focus with the release of Manufacturing PMI and ISM Manufacturing PMI data, providing key insights into the health of U.S. industrial activity. These reports are particularly significant as they offer early signals about broader economic trends and could influence market sentiment across various asset classes.

Major Economic Events to Watch

• 9:45 AM ET - Manufacturing PMI: This purchasing managers’ index measures manufacturing sector activity, with a forecast of 51.9 compared to the previous 51.8. Readings above 50 indicate expansion, making this a key barometer of industrial health.

• 10:00 AM ET - ISM Manufacturing PMI: This comprehensive index from the Institute of Supply Management surveys purchasing executives across 400+ industrial companies, with the previous reading at 47.9. The report provides detailed insights into new orders, production, employment, and other critical manufacturing indicators.

Other Important Economic Events to Watch

• 5:00 AM ET - OPEC Meeting: Representatives from 13 oil-producing nations will discuss energy markets and production quotas, potentially impacting global oil prices and energy stocks.

• 10:00 AM ET - ISM Manufacturing Employment: This component of the ISM report focuses specifically on hiring trends in the manufacturing sector, with the previous reading at 44.9, indicating contraction in manufacturing employment.

• 10:00 AM ET - ISM Manufacturing Prices: This inflation indicator tracks the prices paid by manufacturers for inputs, with the previous reading at 58.5, suggesting significant price pressures in the supply chain.

• 11:30 AM ET - Atlanta Fed GDPNow: This real-time GDP growth estimate is forecast at 4.2%, unchanged from the previous reading, offering insights into current-quarter economic performance.

• 12:30 PM ET - FOMC Member Bostic Speaks: Atlanta Fed President Raphael Bostic’s remarks will be closely monitored for clues about the Federal Reserve’s monetary policy outlook.

Other Economic Events to Watch

• 10:00 AM ET - ISM Manufacturing New Orders Index: This forward-looking component of the ISM report indicates future production levels, with the previous reading at 47.7.

• 11:30 AM ET - 3-Month Bill Auction: The U.S. Treasury will auction short-term government debt, with the previous auction yielding 3.580%.

• 11:30 AM ET - 6-Month Bill Auction: This Treasury auction of medium-term bills had a previous yield of 3.525%, providing insights into investor demand for government securities.

• 2:00 PM ET - Loan Officer Survey: This Federal Reserve survey of domestic and foreign banks operating in the U.S. examines lending standards and loan demand, offering valuable insights into credit conditions.

For further information and the latest updates, please refer to our Economic Calendar, here.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.