Gold and silver sank amid Trump’s plans to nominate reputed inflation hawk Kevin Warsh as the next Fed Chair.

Your Evening Briefing

January 30, 2026

Tech drags down stocks; gold and silver plummet

The S&P 500 had a losing day but posted weekly and monthly gains. The Nasdaq 100 and the Russell 2000 both ended the day and the week lower, but were up on the month. Tech was once again the worst-performing sector.

Gold and silver suffered their worst losses in decades today amid President Trump’s plans to nominate Kevin Warsh, who has a reputation as an inflation hawk, as the new Fed Chair.

Bitcoin fell for the fourth consecutive month, its longest monthly losing streak since 2018. XRP, solana, and dogecoin haven’t posted a positive monthly return since September, while ethereum is on track to have its fifth consecutive monthly red candle.

Stocks that moved higher:

  • Tesla surged as investors seem to like the idea of a merger with SpaceX.
  • GameStop gained after CEO Ryan Cohen says he’s hunting for a “big” acquisition.
  • Singapore-based payment software company TechCreate continued to skyrocket amid an apparent short squeeze.
  • Deckers soared on record revenue thanks to demand for Hokas and Uggs.
  • Verizon jumped after its full-year forecast for profit and free cash flow beat expectations and quarterly wireless subscriber growth hit a six-year high.

Stocks that moved lower:

  • The release of Google’s AI tool that can create playable, copyrighted worlds sent gaming stocks Roblox, Nintendo, Take-Two Interactive, and Unity Software lower.
  • Despite posting better-than-expected quarterly sales and earnings-per-share figures after the close yesterday, shares of Western Digital slipped. 
  • Bombardier, American Airlines, and Delta Air Lines dipped following Trump's threats to impose 50% tariffs on Canadian-made aircraft and decertify Canadian-built planes.
  • Despite reporting an earnings beat this morning, SoFi Technologies traded lower.

The economics of Tesla the company are still all about cars. The economics of Tesla the stock are not.

The company is ditching some of its EV models as it doubles down on robots, AI, energy, and self-driving. Read more.

The rise of in-car ads: Automakers now view infotainment screens as huge possible sources of ad revenue

Our cars are already trying to sell us stuff. CarPlay is disappearing because automakers want our data. And soon, cars may even eavesdrop on our conversations for ad targeting.

Read more.

 

Yesterday, Apple posted record quarterly revenue and iPhone sales — and China, a sore spot for years, was a big reason why.

For the quarter ended December 2025, Apple’s total revenue rose 16% year on year to $143.8 billion, with sales in Greater China — the company’s third-largest region after the Americas and Europe — surging 38% year on year to $25.5 billion. Read more.

  • Apple’s record quarter shows that AI doesn’t sell iPhones
    Apple just had its best quarter ever without a fully functional AI product.
  • WSJ: OpenAI plans Q4 IPO in race to be the first AI startup to enter public markets
    The race to be the first AI startup to IPO is on, and OpenAI wants to win, according to a report from The Wall Street Journal.
  • D-Wave Quantum CEO on what’s next after the most eventful month in the company’s history
    “If 2025 was the international year of quantum, 2026 is the international year of D-Wave Quantum,” said CEO Dr. Alan Baratz.
  • “Bluey” is America’s most streamed show for the second year in a row
    Bingeable content continues to win out over “unmissable” new shows.
  • Exxon Mobil beats Q4 earnings bogeys, despite softer chemical results
    Oil prices have been rising lately amid tensions between the US and petroleum-producing nations like Iran and Venezuela. 
 

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