U.S. Stocks Gyrated Amid Mixed Earnings, Precious Metals Halted January Rally

Barry Adams
30 Jan, 2026
New York City

Stocks on Wall Street struggled to advance, gold and silver dropped, and U.S. Treasury bonds were in focus in Friday's session. 

The S&P 500 index and the tech-heavy Nasdaq Composite decreased 0.3% amid mixed corporate results. 

Apple edged higher after sales of iPhone 17 models soared, Visa reported strong quarterly results, driven by an increase in cross-border payments, and SanDisk offered solid outlook for the current quarter.   

Gold dropped as much as 5% and dipped briefly below $5,000 an ounce, and silver decreased 12% to $102.70 an ounce amid profit taking. 

The yield on 10-year U.S. Treasury notes edged up to 4.25% ahead of the U.S. president's announcement of the next Federal Reserve Chairman.  

Over the last year, Donald Trump has waged a vicious campaign targeting the Federal Reserve's independence and Fed Chair Jerome Powell and attempted to influence monetary policy to his liking. 

 

U.S. Movers 

SanDisk Corp. soared 19% to $642.0, and the digital storage company reported stronger-than-expected fiscal second-quarter results and issued a better-than-expected fiscal third-quarter estimate. 

SanDisk estimated fiscal third quarter adjusted earnings per share between $12 and $14.

Apple Inc. decreased 0.4% to $257.22, and the popular mobile device maker reported sharply higher revenue and earnings in its latest quarter, driven by strong revenue from its popular iPhone 17 models. 

Sale of iPhone mobile devices rose 23% from a year ago to $85.3 billion, driving the total revenue in the quarter to $143.7 billion. 

Visa Inc. decreased 2.1% to $324.82 despite the payment processing company reporting higher-than-expected adjusted earnings per share of $3.17. 

Revenue advanced to $10.9 billion, driven in part by a surge in cross-border transactions and payments. 

Western Digital Corp. declined 3.7% to $268.10, despite the electronic storage company estimating higher-than-expected revenue in the current quarter. 

The company estimated fiscal third quarter revenue of $3.2 billion and adjusted earnings per share of $2.30.