Stock market today: Nasdaq rises, S&P 500 gains, Dow edges higher as Apple jumps on strong earnings, tech leads rally, January ends on a strong note

U.S. stock market saw strong gains on January 31, 2025, as major indexes climbed after Apple reported better-than-expected earnings. The S&P 500, Nasdaq, and Dow Jones all closed higher, driven by investor confidence in tech stocks and stable inflation data.

Apple’s strong earnings drive market gains

Apple’s stock jumped 2.9% after the company posted solid quarterly earnings. The tech giant’s report showed higher-than-expected iPhone sales and growing excitement around its AI-powered features. This helped push the Nasdaq 1.2% higher, making it the best-performing index of the day. Apple’s earnings gave investors confidence in the broader tech sector, supporting the market’s positive momentum.

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Is inflation data signaling stability ahead?

Another key factor driving stock market gains was the latest Personal Consumption Expenditures (PCE) price index report. The core PCE, which the Federal Reserve closely watches, increased 0.2% month-over-month and 2.8% year-over-year, matching Wall Street expectations. This suggests inflation is stabilizing, reducing concerns about further interest rate hikes.

Stock Market Performance: S&P 500, Nasdaq, and Dow Jones rise

The major U.S. stock indexes ended the day with strong gains:

• S&P 500: Up 0.5%
• Nasdaq Composite: Up 1.2%
• Dow Jones Industrial Average: Up 0.1%

Tech stocks led the rally, with Apple and software firm Atlassian seeing significant gains.

Top Stock movers of the day

Atlassian (TEAM): +17% after reporting strong quarterly earnings.
Deckers Outdoor (DECK): -14% despite solid earnings, as its future outlook disappointed investors.
Chevron (CVX): -2.8% after missing earnings estimates.
Exxon Mobil (XOM): +0.2% amid stable oil prices.

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Bond yields and oil prices

The 10-year Treasury yield edged higher to 4.52%, reflecting market uncertainty about the Fed’s next move. Meanwhile, oil prices rose to $72.80 per barrel, indicating strength in the energy sector.

January market gains

The stock market ended January on a positive note, with all major indexes posting monthly gains:

• Dow Jones: +5.5%
• S&P 500: +3.2%
• Nasdaq: +2%

FAQs:

How did Apple’s earnings impact the US stock market today?
Apple’s strong earnings helped boost the stock market, driving Nasdaq, S&P 500, and Dow higher.

What role did tech stocks play in today’s market rally?
Tech stocks, especially Apple and Atlassian, led the market rally with strong gains today.