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Happy Monday. This is TheStreet’s Stock Market Today for Jan. 26, 2026. You can follow the latest updates on the market here in our daily live blog.
The Trump Administration has reportedly proposed keeping reimbursement rates for Medicare plans almost flat year-over-year, much to the detriment of already slammed health insurers like UnitedHealth, Humana, CVS Health, and the like.
The proposal, first reported in WSJ this evening, says that payments will increase by an average rate of “0.09%” in 2027. The reaction after hours has been stark. On news of the report, the aforementioned three firms — among the largest Medicare Advantage providers — fell 8.8%, 12.8%, and 9.5% after the bell.
U.S. markets are now closed.
Although over half of U.S. equities were in decline today, large caps kept the market on track. The Dow (+0.64%), S&P 500(+0.50%), and Nasdaq (+0.43%) continued a four day winning streak, while the Russell 2000 (-0.36%) suffered modest declines.
Top of mind for most investors were forthcoming earnings and the Fed rate decision due out tomorrow. Earnings alone would have been a sufficient distraction this week, with reports from Apple, Microsoft, Meta, Tesla, and others. However, the Fed is also expected to release its rate decision tomorrow, adding to the busy state of affairs this week.
Through midday, things have taken a small turn. The Russell 2000 (-0.21%), once leading the pack is now the sole decliner among major indexes. Meanwhile, the Nasdaq (+0.71%) has pulled ahead.
In their fourth straight winning session, 56.1% (3,103) U.S. issues are now seen declining, but the 41.5% (2,293) lifting the market are putting up quite the fight.
That said, here are today’s midday movers, our daily list of the top and bottom 20 stocks with at least a $2 billion market cap. Here, we aim to capture the biggest stories on markets
USA Rare Earth (+14.86%) is fetching a bid today after the U.S. government confirmed it would take a 10% stake in the business, making it today’s best-performer.
It’s joined by a handful of software companies; DigitalOcean (+12.27%), Pattern Group (+12.06%), Cloudflare (+10.74%), and Zoom Communications (+9.87%) are also putting up a strong performance today after a weak week for software stocks.
Also rounding out the bunch is CoreWeave (+9.06%), which got a fresh injection of capital from chip giant Nvidiatoday. The company invested $2 billion in the firm, adding to an existing investment in the hyperscaler.
On the other end of the market, some repeat members of the list are leading decliners — Anbio Biotechnology (-21.91%) and TMC the metals company (-18.7%) are lower without clear news.
However, rounding out the bottom three, Revolution Medicines (-16.76%) is declining after Merck is reportedly no longer in talks to acquire the cancer drug developer. Such a deal would have reportedly been in the ballpark of about $30 billion, but they could not agree on price.
Among other notable decliners today, a controversial government contractor responsible for operating private prisons and ICE facilities, Geo Group (-11.82%), is also declining today. It continues a recent string of declines in the company’s stock.
Space stocks are also a notable decliner today, with Firefly Aerospace (-11.81%), Voyager (-7.9%), Intuitive Machines (-6.84%), and Rocket Lab (-6.79%) in decline.
The U.S. markets are now opened. The Russell 2000 (+0.59%) is back out in front after a disappointing close to the week, joined by all three major large cap indexes — the S&P 500 (+0.43%), Dow (+0.39%), and Nasdaq (+0.34%).
Out of the gate, the market is fairly even this morning. 48.1% (2,660) issues are advancing against 47.5% (2,627) in decline. The balance comes even after weekend trading in crypto, commodities, and eventually futures paled mixed reactions.
Tech stocks in the Nasdaq are finishing last as investors continue to digest Intel’s disappointing coming-quarter earnings, which had the stock down more than 17% on Friday. Today, it’s down another 3.6%, weighing on shares of similarly-situated firms.
Here’s the S&P 500 at last glance (15 min delayed):
At the same time as markets continue last week’s rebound, traders in the currency and commodity markets are appreciating a chaotic time. The Dollar continued recent declines this week amid unrest in the U.S., along with European pensions divesting Treasurys. Adding to concerns today, the U.S. is reportedly weighing some form of intervention with Japan’s Yen, which has played a significant role in the recent moves in the U.S. currency.
Speaking of Treasurys, the 10Y is down 2.8 bips to 4.211% today, even after Swedish pension fund Alecta were said to have sold “most” of its Treasury holdings after a report said that Northern European nations might divest America’s government debt amid a surge in geopolitical uncertainty.
Speaking of uncertainty, those commodity safe havens are still running, too. Analysts at Societe Generale and Morgan Stanley upgraded gold after the precious metal surpassed $5,000 on Friday. Continuous futures in gold (+2.27% to $5,092.80) and silver (+9.71% to $111.175) both rose to record highs today amid a tenuous backdrop for U.S. politics and global affairs.
Here are some of the other notes from the day:
This morning, more than 814,000 U.S. households are still without power, with the leading sums coming out of states like Tennessee, Mississippi, and Louisiana. These states — plus others in the southeast, midwest, and northeast — were particularly hard hit by this weekend’s Winter Storm.
That storm has since moved northeast, leaving remaining pockets of the original warning in the northeast (in pink). In its stead, an Extreme Cold Warning (in dark blue) has been issued for large swaths of the U.S. population, which are contributing to higher natural gas prices.
It also contributed to a banner day for U.S. air travel — in a bad way. Over a dozen U.S. airports were shut, while over 40% of commercial flights were cancelled. The country has not seen a the worst day for U.S. since Mar. 2020, when airlines cleared their schedule amid the outbreak of the Covid-19 pandemic.
This week, we continue to digest results from the fourth quarter, starting with Nucor Corp., Ryanair, and Brown & Brown, among others. Here are the 20 largest earnings reports today, sorted by market cap:
Today’s economic reports were largely out before the opening bell, including Durable Goods for November, which were shown to rise by 5.3%, impressing investors. However, the strength of that number is likely to be scrutinized because of the government’s recent shutdown. In addition, the Chicago Fed National Activity Index for October and November was also out, leaving just the Dallas Fed Manufacturing for January to come later this morning. Here is the slate:
This story was originally published by TheStreet on Jan 26, 2026, where it first appeared in the Latest Business & Market News section. Add TheStreet as a Preferred Source by clicking here.