S&P 500 rises as it closes out winning January, Nasdaq tries to claw back DeepSeek losses: Live updates

Stocks moved higher Friday as investors analyzed earnings reports from Apple and other well-known companies, alongside the release of a closely followed inflation report.

The S&P 500 climbed 0.6%, and the Nasdaq Composite advanced 1.2%. The Dow Jones Industrial Average was trading around flat, weighed down by a decline in Chevron.

Investors honed in on Apple, which saw shares rise 1% after the company exceeded fiscal first-quarter expectations. While Apple reported disappointing sales tied to the iPhone, services revenue appeared to take the spotlight. Shares of Chevron and Exxon Mobil respectively dipped 4% and 1% on the back of disappointing fourth-quarter results.

Friday’s action follows a winning — but volatile — trading session for the three major indexes. Technology has been a major focus of investors this week given Monday’s big sell-off sparked by developments out of China’s DeepSeek artificial intelligence startup and earnings reports from key players over recent days.

“I thought that that huge sell off was overdone. That’s kind of unwinding today,” said Jay Hatfield, CEO of Infrastructure Capital Advisors. “The DeepSeek freak is fading. We think it’ll fade further with Amazon and Google reporting next week, and of course, Nvidia later. We’re optimistic on that.”

After tumbling 3.07% on Monday, the Nasdaq Composite has since clawed back most of its losses and was last down marginally on the week. The S&P 500 and blue-chip Dow are poised to finish the week 0.1% and 1% higher, respectively. Nvidia, which plunged nearly 17% on Monday, has since trimmed its weekly losses to about 12%.

Friday also marks the last day of what has been a rocky January for traders. Nevertheless, the three major averages are on pace for monthly gains, with the S&P 500 up 3.9% and the Nasdaq on pace for a 3.1% advance. The Dow outperformed in the period, on track for a 5.5% jump.

“We still do have a fair amount of earnings,” Hatfield added. “Usually, it pays to be long during earnings, so we would continue to be bullish into February.”

Friday’s release of the December data for the personal consumption expenditures price index — the Federal Reserve’s preferred inflation gauge — showed an increase of 0.3% from November and a 2.6% annual rate. While this yearly advance was in line with economists’ expectations, it marked an acceleration from the prior month’s rate of 2.4% — raising some concerns that inflation remains sticky. Excluding food and energy, core PCE also increased 0.2% monthly and 2.8% on an annual basis.