Stock Market Summary – January 28, 2026

The Federal Reserve held its key interest rate steady Wednesday in a range between 3.5%-3.75%. The committee raised its assessment of economic growth and stated that “economic activity has been expanding at a solid pace,” alleviating some concerns about the labor market. The crypto political action committee Fairshake reported a $193 million war chest, indicating future involvement in congressional midterms as lawmakers negotiate a cryptocurrency bill. Major donations came from Ripple and Andreessen Horowitz’s a16z, with $25 million and $24 million respectively.

In the stock market, Intel saw a significant rise, boosted by a report that Nvidia will shift its chip production to Intel. AT & T surged 5% after issuing annual profit guidance above market expectations and Starbucks grew by 2% after reporting store traffic growth for the first time in two years. In contrast, Amphenol saw a drop of more than 12% and VF Corp slid 10%.

In further news, a weakening U.S. dollar should be concerning for investors according to Steve Englander, head of global G10 FX research at Standard Chartered, despite President Donald Trump’s indifferent attitude as it makes American goods cheaper to sell abroad. Lastly, the Federal Reserve appears not to have complied with grand jury subpoenas issued as part of a criminal investigation of Fed Chair Jerome Powell by federal prosecutors.