U.S. equities are showing a positive start to Thursday, January 22nd, 2026, building on yesterday's significant rally as easing geopolitical tensions and a slew of economic data capture investors' attention. The market's early gains reflect a renewed appetite for risk after a period of uncertainty.
Major Market Indexes See Early Gains
As the U.S. stock market opened this morning, major indexes demonstrated an upward trend, extending the relief rally observed on Wednesday. The S&P 500 (SPX) was up 0.4% in early trading, while the tech-heavy Nasdaq Composite (IXIC) advanced 0.6%. The Dow Jones Industrial Average (DJIA) also saw a 0.6% increase. This follows a robust performance on Wednesday, where all three benchmarks rallied approximately 1.2%. The S&P 500 closed up 1.16%, the Nasdaq Composite gained 1.18%, and the Dow Jones Industrial Average rose 1.21% yesterday, reversing an earlier sell-off. Technology stocks, in particular, are contributing significantly to today's early strength.
The positive sentiment largely stems from a de-escalation of U.S.-Europe tariff tensions. President Donald Trump announced a "framework agreement" regarding Greenland, walking back his earlier threats of imposing new tariffs on eight European countries and ruling out military force to acquire the territory. This diplomatic shift has been widely interpreted as a "relief rally" for global markets. Despite these gains, the major indexes are still down for the week.
Upcoming Market Events and Economic Data
Investors are closely monitoring several key economic data releases scheduled for today, which could provide further direction for the markets. The delayed Personal Consumption Expenditures (PCE) price index figures for October and November are set to be released at 10 a.m. ET. The November PCE price gauge is anticipated to show a 0.2% rise, with the annual inflation rate projected at 2.8%. This data is particularly important as it represents the Federal Reserve's preferred measure of inflation and could influence expectations regarding future interest rate decisions. The Fed is widely expected to keep rates on hold next week, but the PCE data could shift market sentiment on potential rate cuts later in the year.
Additionally, the government's final estimate for the third-quarter 2025 Gross Domestic Product (GDP) was released, showing a rise to 4.4% on a seasonally adjusted annual basis, up from a previous estimate of 4.3%. Weekly jobless claims were also reported, meeting expectations at 200,000. These figures suggest continued economic vitality in the U.S..
Major Stock News and Corporate Announcements
Several individual companies are making headlines today due to earnings reports and other corporate developments:
- Intel (INTC): The chipmaker is slated to report its quarterly results after the market closes today. Technology stocks, including chipmakers, have been strong performers in early trading.
- CSX Corporation (CSX): The railroad operator is also scheduled to release its earnings report after the closing bell.
- Procter & Gamble (PG): Shares of the consumer goods giant initially slipped 1.2% after it reported second-quarter earnings that barely nudged past profit targets and fell short of revenue projections. The company also lowered the range on one measure of its full-year profit guidance. However, in post-earnings moves, shares were reported to be up 2%.
- Abbott Laboratories (ABT): The medical device and healthcare company saw its shares decline by 8% following its earnings report.
- GE Aerospace (GE): Shares of the aerospace company fell 4% after its latest earnings release.
- McCormick & Co. (MKC): The spice maker experienced a significant slump of 6.8% after missing profit targets and issuing disappointing guidance, attributed to ongoing higher commodity prices.
- Generac Holdings Inc. (GNRC): The power generator manufacturer's shares are up 3% amid forecasts of a potentially catastrophic ice storm impacting a large swath of the U.S., which is expected to boost demand for its products.
- Apple (AAPL): The tech giant saw its stock add 0.4% on reports of a major overhaul to its virtual assistant, Siri.
- Netflix (NFLX): Shares of the streaming service fell 2.2% as investors considered softer margin guidance and its bid for Warner assets.
- Meta Platforms (META): The social media giant's stock was up 4% in early trading.
- Natural Gas Companies: EQT Corporation (EQT), Cheniere Energy (LNG), and Kinder Morgan (KMI) all climbed early Thursday, driven by a 9% surge in natural gas futures. This increase is linked to expectations of dramatically rising demand and sliding supplies due to an impending Arctic cold front across the Midwest and Eastern U.S..
In the commodities market, West Texas Intermediate crude futures were down approximately 1% at $59.95 a barrel, with crude oil falling below $60 per barrel as geopolitical tensions eased. Gold, a traditional safe-haven asset, slipped 0.3% to $4,825 an ounce, after reaching a fresh all-time high of nearly $4,900 on Wednesday, reflecting reduced investor worries. Bitcoin (BTC) also inched lower, trading around $89,400 and appearing to lose its hold on the $90,000 mark.
Overall, the market is navigating a complex landscape of receding geopolitical risks and incoming economic data, with individual company performances adding to the dynamic trading environment.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.