CNBC Business News Update - Market Midday: Stocks Lower, Software Stocks Tank, Microsoft Down 11%, Gold Pulls Back From Record 1/29/26

Episode Date: January 29, 2026

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored and reported by CNBC's Jessica Ettinger. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jessica Ettinger, CNBC. We've got to drop on Wall Street this afternoon. Investors watching oil pop after President Trump said an armada's heading to Iran. They're also watching the U.S. government heading toward a possible shutdown this weekend. Bitcoin down to where it was back on December 1st, sitting at 84,000, a significant decline in software stocks today. Let's check the Dow. It's down 51 points being led lower by shares of Microsoft, which are tanking a 11%. The S&P 500 index down 59 points. That's a little better than it was. And the NASDAQ plunging 422 points, almost 2%. Shares of Nvidia are down 1.5% this afternoon. Companies whose shares actually hit record highs today include Google Parent Alphabet, Exxon, Johnson & Johnson Caterpillar, and Tractor Maker Deer. Here's CNBC's David Faber on Software Stocks. I mean, it is worth noting, of course, this significant decline in software stocks right now. Obviously, we've talked about service now.

Take a look at Salesforce that pays for its lowest close since November of 2023. And, of course, Microsoft down as much as 12%. Interesting trade perhaps going on here. Market cap is moving away from so many of these software's service companies. And where is it going? Well, you can make an argument. It's going into private companies called OpenAI and Anthropic. Gold pulling back from its ninth record high close of the year.

year, which happened yesterday. Gold is now down 2% today. The reason we're seeing a bit of a decline is the price went parabolic and nothing maintains that kind of trajectory. So I think investors are just taking some near-term profits at this point. CFRA's Sam Stovall on CNBC. More people applied for unemployment benefits last week than expected. And the week before's numbers were revised higher. The numbers are still below. Pre-pandemic weekly averages, though. 209,000 is where we come out. Our last look gets upgraded to 210,000. Now, even though we see the revision is higher, it's very hard for me to get nervous about 209,000. Historically, it's still a very, very, very low level. CNBC's Rick Santelli.

Facebook parent meta shares were jumping 9% on strong results. Royal Caribbean cruises. up 7%. It's forecasting even better numbers for this current quarter than previously thought. Low-cost airline Southwest, now like the big guys, not low-cost anymore. Shares are higher on a stronger outlook. Now that open seating is gone and the airline can charge for seat location and a lot more. The money's rolling in. Here's CNBC's Phil LeBoe and Southwest CEO Bob Jordan. The move to assigned seating, it just sets up terrific momentum for 2026. People will pay up a little bit for that, but also for baggage fees. These are the kind of things that your competitors have been doing for some time. Because this is a change to the business model, all of this works together.

So giving our customers choice, offering them extra leg room seating, offering them different products, and they can buy up. And obviously, you can buy a seat location. And we have fairs that have bag fees and no bag fees. So we're giving our customers choice. Netflix releasing the first half of season four of its popular Bridgerton series today. Jessica Eddinger, CNBC. Take the bull by the horns every morning with Jim's top 10. Write to your inbox. Sign up now for free at cnbc.com slash top 10.