4:05pm: Wall Street wobbles
US stocks edged lower at the close to wrap up a volatile week. The Dow Jones fell 0.2% to 49,359 points, while the Nasdaq and S&P 500 were both little changed at 23,515 points and 6,940 points, respectively. The Russell 2000, meanwhile, closed up 0.2% at a record high 2,678 points.
Equity and bond markets will both be closed on Monday in observance of Martin Luther King Jr. Day.
3:30pm: Proactive news headlines
- Tiziana Life Sciences Ltd (NASDAQ:TLSA) announced that it has closed an $8.8 million equity financing backed by its senior leadership and existing shareholders, as the biotechnology company moves to advance late-stage clinical development of its lead drug candidate.
- Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF, FRA:XOD) has earned a ‘Buy’ rating in initial coverage from SCP Equity Research analysts, who highlighted the company’s Banio Potash project in Gabon, West Africa, as a high-potential development in the global potash market.
- Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF, FRA:1SS) announced that it has completed the integration of blockchain payment provider BitPay across its event technology platforms, alongside a series of backend infrastructure upgrades aimed at improving scalability and efficiency.
- BioVie Inc (NASDAQ:BIVI, NASDAQ:BIVIW) has completed enrolment in a closely watched mid-stage trial testing whether its experimental drug bezisterim can slow the progression of early Parkinson’s disease, putting the group on track for key data later this year.
- AtaiBeckley NV (NASDAQ:ATAI, XETRA:9VC) announced that it participated in the 64th Annual Meeting of the American College of Neuropsychopharmacology (ACNP), held January 12 to 15, 2026, in Nassau, The Bahamas, where the company presented two scientific posters and delivered a Hot Topic Presentation.
- Aftermath Silver Ltd (TSX-V:AAG, OTCQX:AAGFF, FRA:FLM1) was named to the 2026 OTCQX Best 50, an annual ranking of the top-performing companies traded on the OTCQX Best Market.
1:15pm: Market movers
- Shares of ImmunityBio (NASDAQ:IBRX) traded more than 30% higher after the company reported updated clinical data showing durable complete responses in patients treated with its off-the-shelf CD19 CAR-NK cell therapy in Waldenström non-Hodgkin’s lymphoma, adding to recent momentum driven by strong sales growth for its approved immunotherapy Anktiva.
- AST SpaceMobile Inc (NASDAQ:ASTS) shares surged more than 12% on the news that the company had been awarded a contract under the US Missile Defense Agency’s (MDA) Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) program.
12:15pm: Stocks waver
US stocks were little changed at midday as investors reflected on this week’s bank earnings and geopolitical developments.
“Monday’s wobble around Jerome Powell is long-forgotten, and while earnings season hasn’t delivered any major upside surprises so far, it has done enough to support stocks this week,” IG chief market analyst Chris Beauchamp said in a statement.
“The focus moves now towards tech stocks, still the major driver of earnings even if their lead has eroded of late.”
11:11am: Midcap stocks show strength
Midcap stocks are keeping pace with record highs in global markets: the Russell 2000 has already hit a 2026 record, the FTSE 250 is approaching last September’s highs, and the MDAX recently broke 30,000.
Kathleen Brooks, research director at XTB, highlighted three reasons why midcaps may continue to outperform. Momentum is on their side, she wrote, with high-quality value stocks driving gains once the largest tech giants are excluded.
Positive earnings revisions and strong liquidity are also supporting demand outside mega-cap names. Brooks warns that concentration risk is real for US blue chips. While the S&P 500 is being fueled by tech, with Sandisk up 72% this year, the Russell 2000 shows broader leadership across basic materials, energy, and telecoms. Erasca, a pharma company developing early-stage cancer treatments, is an example of a stock that could remain resilient if the AI-driven tech trade falters.
In the UK, commodity and defense stocks have lifted the FTSE 100, but miners face volatility and M&A risks.
“The top performers on the FTSE 250 are more diversified,” Brooks wrote, including Ocado, Ashmore Group, Jupiter Fund Management, and Oxford Biomedica, which helps spread risk. With 45$ to 55% of its revenue generated domestically, compared with 25% to 30% for the FTSE 100, the FTSE 250 could benefit as UK growth surprises continue.
Brooks concludes that midcaps may offer a combination of momentum, diversification, and domestic exposure that positions them well for 2026’s unpredictable markets.
10:05am: Stocks mixed at the open
US stocks were mixed at the open, with a rally in tech stocks driving the Nasdaq 0.2% higher to 23,575 points. The S&P 500 was little changed at 6,947 points, and the Dow Jones slipped 0.2% to 49,341 points.
AI remains a focus for investors, according to Swissquote analyst Ipek Ozkardeskaya, specifically concerns around circular AI deals amid rising electricity, metals, and memory-chip prices and the risk of supply disruptions.
“All of this suggests that this earnings season may not be a walk in the park. These “details” — or elephants in the room — will matter just as much as the shiny headline figures,” Ozkardeskaya wrote.
“AI stocks are valued to perfection and leave no room for error. As we head into earnings, it increasingly feels as though Big Tech’s ability to impress is diminishing, a risk that matters given its outsized weight in equity indices.”
7:28am: Before the bell
US stock futures rose on Friday, led again by technology shares, as Wall Street looked to end a volatile week on a steadier note.
Futures on the Nasdaq 100 climbed about 0.5%, outperforming broader markets. The S&P 500 added 0.2%. Dow Jones futures, which have less exposure to big tech, were flat. The moves followed a rebound on Thursday that snapped a two-day losing streak.
Chip stocks remained central to the mood. Shares in Taiwan Semiconductor Manufacturing Company extended gains after a strong earnings report reignited enthusiasm around artificial intelligence.
Nvidia also pushed higher. Sentiment was helped by news of a US–Taiwan trade deal that could channel $250 billion into American chip and technology manufacturing.
Earnings were another support. Attention turned to mid-sized lenders such as PNC Financial Services and Regions Financial, after upbeat results earlier in the week from Goldman Sachs and Morgan Stanley.
The rally came despite a heavy news backdrop. Markets have been rattled by tensions involving Iran, renewed debate over Greenland, and a criminal probe that has raised questions about the independence of the Federal Reserve under President Donald Trump. A long weekend looms, with US markets closed on Monday.
Commodities were mixed. Oil prices rose, with Brent crude above $64 a barrel, as fears of a military strike on Iran eased. Silver slipped as tariff risks faded, though it was still up more than 15% for the week.
Even so, the damage from earlier swings remains. Major US indices are still on track to finish the week slightly lower, underscoring how unsettled the start to the year has been.