5 Things to Know Before the Opening Bell 1/28/2026

Summary

Squawk Pod: 5 Things to Know Before the Opening Bell – January 28, 2026

Episode Overview

This episode of "Squawk Pod," hosted by Becky Quick, delivers a crisp rundown of the five top news items for investors ahead of the market’s opening bell on January 28, 2026. Becky highlights pivotal developments in Federal Reserve policy, major corporate earnings reports, and sector-specific moves—particularly in health insurance and semiconductors—that could influence the day’s trading.

Note: This summary omits advertisements and non-content sections.

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Key Discussion Points & Insights

1. Federal Reserve Decision Looms

[01:00]

• Main Point: The Federal Reserve is set to announce its latest interest rate decision at 2:00 PM Eastern.
  • "The Fed will announce its latest interest rate decision that's coming at 2pm Eastern time. Investors expecting no change in the federal funds rate."
• Market focus is not on the decision itself (as no change is expected), but on Fed Chair Jay Powell’s subsequent press conference for insight into future rate moves.
  • "...we will be paying close attention to Fed chair Jay Powell's news conference for any clues about the future of rate paths."

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2. Elevance Health Earnings & Healthcare Stocks

[01:20]

• Elevance Health (formerly Anthem) beat fourth-quarter earnings expectations but saw revenue come in lighter than expected.
• The company’s shares plunged 14% the previous day. This followed the Trump administration’s proposal of nearly flat rates for Medicare Advantage insurers in 2026.
  • "Elevance shares though were down 14% yesterday after the Trump administration proposed nearly flat rates for Medicare Advantage insurers for this year."
• The slide spread to other health insurers.
• As of this morning, Elevance is down another 6.5%.
  • Notable for the significant sector impact and a potential trend for the day.

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3. SK Hynix Posts Record Profit

[01:55]

• South Korea's SK Hynix soared after reporting a "record full year profit."
• The company also announced plans to create a new US-based company focused on artificial intelligence (AI).
  • "It also announced that it will be setting up a new U S based company focused on AI."
• This hints at continued investment and confidence in the chip and AI sector.

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4. ASML and the Semiconductor Rally

[02:08]

• Dutch chip giant ASML sees its stock "popping" after enormous order volume.
  • "Shares of Dutch chip giant ASML popping after the company reported orders that more than doubled analyst expectation. That stock right now up by about 6%."
• Huge demand and beat on expectations are sending its shares higher.
• ASML is a critical supplier to the global semiconductor industry.

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5. Texas Instruments Guidance Surprises Upward

[02:25]

• Texas Instruments missed expectations on earnings and revenue, but issued bullish forward guidance for the current quarter, forecasting $4.3 to $4.7 billion in growth.
  • "But the current quarter guidance that it's giving is lifting the stock. It's up by about 8.5%. Texas Instruments is projecting growth of 4.3 to 4.7 billion in the current quarter."
• Despite the miss, the upbeat forecast boosted shares and investor sentiment.

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6. Chip Sector Momentum Spills Over

[02:40]

• Overall, the positive news from ASML and Texas Instruments is lifting the broader chip and memory stock sector.
  • "Those gains by ASML and Texas Instruments lifting the entire chip sector."
• Specific movers include:
  • Western Digital: up by ~8%
  • Seagate: up by ~10.5%
  • "Western Digital up by about 8%. Seagate up by close to 10.5%."
• This sector-wide momentum is a notable theme for market watchers.

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Notable Quotes & Memorable Moments

• Becky Quick on the market’s focus:

  "We will be paying close attention to Fed chair Jay Powell's news conference for any clues about the future of rate paths." [01:10]

• On sector impact from policy decisions:

  "Elevance shares though were down 14% yesterday after the Trump administration proposed nearly flat rates for Medicare Advantage insurers for this year." [01:25]

• On the chip sector spike:

  "Those gains by ASML and Texas Instruments lifting the entire chip sector. Right now you can see these gains across the board." [02:40]

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Timestamps for Important Segments

• [01:00] – Episode begins with top stories rundown
• [01:05] – Upcoming Fed rate decision and investor focus
• [01:15] – Elevance Health earnings and sector reaction
• [01:55] – SK Hynix’s record profit and AI expansion plans
• [02:08] – ASML’s order surge and stock move
• [02:25] – Texas Instruments’ earnings and bullish guidance
• [02:40] – Contagion of gains across the chip sector

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Summary Takeaways

• Investors are braced for guidance, not changes, from the Fed; policy signals remain a priority.
• Healthcare stocks, especially Elevance Health, are under pressure due to proposed policy changes.
• The chip sector is the day’s brightest spot, with robust earnings and guidance from industry heavyweights fueling substantial gains across the board.
• AI investment from major players like SK Hynix highlights a longer-term trend powering current momentum.

This concise pre-bell briefing equips listeners to navigate the day’s market moves with context and insight from trustworthy CNBC voices.

Transcript

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[A]

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[B]

Hi, I'm Becky Quick, co host of Squawk Box, and this is five things you need to know before today's opening bell. The Fed will announce its latest interest rate decision that's coming at 2pm Eastern time. Investors expecting no change in the federal funds rate. But we will be paying close attention to Fed chair Jay Powell's news conference for any clues about the future of rate paths. Elevance Health, formerly known as Anthem, out with its fourth quarter results. Those earnings beat expectations. Revenue was a little bit light. Elevance shares though were down 14% yesterday after the Trump administration proposed nearly flat rates for Medicare Advantage insurers for this year. Other health insurers also saw big losses and this morning you could see Elevance Health down by another six and a half percent. South Korea's SK Hynix moving higher after earnings. The company reported record full year profit. It also announced that it will be setting up a new U S based company focused on AI Shares of Dutch chip giant ASML popping after the company reported orders that more than doubled analyst expectation. That stock right now up by about 6%. And then you have Texas Instruments earnings and revenue missing estimates. But the current quarter guidance that it's giving is lifting the stock. It's up by about 8.5%. Texas Instruments is projecting growth of 4.3 to 4.7 billion in the current quarter. Those gains by ASML and Texas Instruments lifting the entire chip sector. Right now you can see these gains across the board. Western Digital up by about 8%. Seagate up by close to 10.5%. We'll be back later today with Squawk Pod, our daily podcast featuring the best of Squawkbox. Stay tuned to your feed wherever you get your podcasts and listen anytime.

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