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Informist, Sunday, Feb. 1, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices end lower Fri; mkts assess Trump's new Fed nominee

 

MUMBAI--0744 IST--The US markets ended lower on Friday, with the S&P 500 posting losses for the third consecutive session. Technology stocks fell for the session. Investors assessed corporate earnings and US President Donald Trump's nomination of the next US Federal Reserve Chair.

 

Trump announced Kevin Warsh as his pick to replace the current Fed Chair Jerome Powell. "I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best," Trump was quoted as saying by CNBC based on a Truth Social Post. This came as a relief to many who were concerned over the independence of the country's central bank as Warsh is likely to push for lower rates in the short term, but the markets believe that he would not always follow the President's direction and will be able to maintain credibility.

 

Shares of Verizon Communications surged 12?ter the company's financial results beat analyst expectations and provided a strong outlook for their earnings for the entire year, CNBC reported. Shares of Apple ended slightly higher after moving between gains and losses. Apple's financial results beat expectations, with the company reporting a significant surge in iPhone sales. Shares of Microsoft ended nearly 1% lower after the stock shaved 10% for the session post earnings on Thursday. Thursday marked the worst day for the stock, which erased more than $350 billion from the company's market capital.

 

Despite the weak session, the indices posted gains for January. The S&P 500 and the Dow Jones index gained over 1% and 2% during the month, along with the NASDAQ, which gained 1%.  

 

Following are the closing levels of US indices Friday:  

 

Index	Level	Change in %
S&P 500	6939.03	(-)0.43
NASDAQ Composite	23461.82	(-)0.94
Dow Jones Industrial Average	48892.47	(-)0.36

 

(Akshat Saksena)

 

US$1 = INR 91.98

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Vandana Hingorani

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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