CNBC Business News Update - Market Close: Stocks Mixed, S&P 500 Index Closes At New All Time High, Consumer Confidence Plunges To A 12 Year Low 1/27/26

Episode Date: January 27, 2026

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I'm Jessica Eddinger, CNBC. Wall Street opens Wednesday morning after a mixed day for stocks on Tuesday. Consumer confidence tanked to its lowest in 12 years, while the S&P 500 index closed at a new record high. Let's start with the Dow. It was down 408 points, led lower by shares of United Health, which were down almost 20%. The S&P 500 index in the green up 28. The NASDAQ up 215 points. shares of NVIDIA were in the green up 1%.

Companies who shares at fresh all-time highs on Tuesday include General Motors Amgen HCA, Johnson & Johnson, applied materials, and Corning. United Health shares plunged along with Humana's and CVS Health after the White House announced payments for Medicare Advantage plans will barely go up next year. It's the start of a negotiation. Gold with a fresh record high on Tuesday. platinum dropped 9% silver, which is soared up 50% just this year, pulled back about 3%. Everyone's watching silver.

We are in rare territory in some ways on par to that Hunt Brothers bubble around 1980. With the intraday reversal does certainly put us on watch for some meaningful correction over the coming weeks and months. BTIG's Jonathan Krinski on CNBC. Consumer confidence plunged again in January. This is according to the conference board, the lowest in 12 years. Headline expected to be over 90. Comes in at 84.5. That would be the week is going all the way back to 2014.

CNBC's Rick Santali. And why is this important? Well, here's macro policy perspectives, Julia Coronado on CNBC. Conference board is extremely valuable for assessments of labor market conditions. We're still in this not just low, high or low fire, but slow bleed. We've seen the unemployment. employment rate drift higher over last year. And what we're seeing is that labor market conditions are, you know, not great. UPS cutting another 30,000 jobs in its unwind from Amazon. Last year was,

you know, a year where everything that could go wrong did go wrong. So you lost 50% of your Amazon revenues. You lost the post office contract to move last miles for their short post business. They lost a minimum volume. Remember, they had an accident with their MD 11 and they had to park their entire MD-11 fleet. You've reset the bar. You're continuing to cut costs. Bank of America's Ken Hexter on CNBC. Homebuyers backing out of deals at the fastest pace in nearly a decade. More than 40,000 signed home purchase agreements were canceled in December. A little more than 16% of all homes that went under contract. This is according to Redfin. More homes are coming on the market and buyers are inclined to walk away when they find a better deal. General Motors with mixed quarterly

results, but shares hit a record high Tuesday. As the company buys back more stock, it's also boosting its dividend. Cisco, the food service company that supplies restaurants, saw food inflation at a modest 1.4% for its business, but when you go to a restaurant, there's one thing that's going to cost you a lot more because it costs Cisco a lot more. Beef is still very inflationary, high single digits. There just simply are not enough cattle head being ranched in the core U.S. market and demand for beef continues to grow. So beef costs up year every year. Cisco CEO Kevin Hurricane on CNBC. On Wednesday's watch list, we get a decision on interest rates from the Fed and earnings are coming from Facebook parent meta, Microsoft, Tesla, AT&T, and

Starbucks. Jessica Eddinger, CNBC. Breaking earnings news. Market reaction this week on CNBC and streaming on CNBC Plus.