On Thursday, January 15, 2026, U.S. equity markets advanced, reversing a two-day slide as strong earnings from major banks and gains in semiconductor stocks supported broader risk appetite. Price action reflected select sector strength rather than a broad market breakout.
The Move
Major U.S. equity indexes closed higher, breaking a two-day decline.
Semiconductors and tech stocks rallied after earnings cues.
Bank shares climbed on solid quarterly results.
Canadian and other global indexes also rose.
Oil prices softened amid easing geopolitical supply fears.
What’s Behind It
Major banks (including Morgan Stanley and Goldman Sachs) reported results that exceeded expectations, which lifted financial sector sentiment and contributed to the Dow and broader indexes moving higher. Meanwhile, chipmakers—buoyed by strong results from Taiwan Semiconductor Manufacturing Co. (TSMC) and related demand signals—pushed technology shares up and helped support the Nasdaq and S&P 500.
The sector concentration of gains was notable: semiconductors and financials led returns even as other components remained mixed.
Oil prices eased during the session as some geopolitical supply concerns abated, reducing pressure on equity valuations tied to energy and risk assets.
What Comes Next
Thursday’s market behavior highlighted that earnings surprises can rapidly reset near-term risk appetite even when broader macro signals are mixed. The rally was not broad based but sector specific, with banking and technology outperforming.
In the short horizon ahead:
Follow-on earnings reports will be important in confirming whether Thursday’s sector strength extends across the market.
Equities remain sensitive to changes in rate expectations and geopolitical risk narratives.
Sector leadership shifts (banks and tech) may influence positioning into the next trading session.
