Stock Market Live January 23, 2026: S&P 500 (SPY) Slips After Substantial Rally

If you’re in the path of the winter storm, stay warm and safe.

After a two-day blast higher, the major indices are down this morning. The S&P 500 is down about 0.18% at the moment, which is pulling down the SPDR S&P 500 ETF (SPY) BY 0.2%. The Dow is down about 0.4%, as the Nasdaq slips 0.25%.

Intel Sinking on Soft Guidance

Not helping, Intel (NASDAQ: INTC | INTC Price Prediction) is down about 12.7% this morning on a disappointing first-quarter outlook. In its most recent quarter, the company saw EPS of 15 cents, which was above expectations of eight cents. Revenue of $13.7 billion was slightly better than expectations of $13.4 billion. Unfortunately, guidance sank the stock.

Intel now expects first-quarter revenue between $11.7 billion and $12.7 billion, and breakeven adjusted earnings per share. That’s below expectations of five cents on $12.51 billion in sales. According to the company, that’s because the company doesn’t have the supply it needs for seasonal demand.

Fortunately, other tech stocks are doing well in premarket.

Nvidia (NASDAQ: NVDA) is up about $2.11 a share on news that CEO Jensen Huang will visit China over the next few days. Advanced Micro Devices (NASDAQ: AMD) is up another $6.87 a share, as analysts get bullish ahead of AMD earnings.

Generator Stocks Are Exploding Higher 

Shares of Generac (NYSE: GNRC) rocketed from a recent low of about $135 to $175.34.

All as the U.S. prepares for a potentially disastrous winter blast.  That’s because managers of electric grids say freezing temperatures, ice, and snow could lead to power outages in many places, leaving millions of us in the dark.

“When you get one day of cold weather, it’s not as significant. But we’re talking about three or four days here of very low temperatures,” said Douglas Giuffre, who leads U.S. power and renewables research for S&P Global Energy, as quoted by The New York Times.

Natural gas prices are also exploding higher as demand rises.

“The biggest gains in natural-gas prices have been for near-term deliveries. Futures for February delivery of the heating and power-generation fuel had their biggest three-day percentage gain on record. Futures settled Thursday at $5.045 per million British thermal units, up from $3.103 at the end of last week,” according to The Wall Street Journal.

Again, if you’re in the path of the winter storm, stay warm and safe.

Once temperatures start to warm up again, we can start looking at downside opportunities in generator and natural gas stocks.

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