US Stocks Climb as Markets Eye Tech Earnings, Fed Meeting | Closing Bell
Speakers
Michael Burry
— Founder, Scion Asset Management; subject of The Big Short
Carol Massar
— Anchor, Bloomberg
Romaine Bostick
— Anchor, Bloomberg
Tim Stenovec
— Anchor/Co-Host, Bloomberg TV & Radio
Summary
U.S. stocks closed modestly higher on light volume, with large-cap tech leading and the Russell 2000 slightly lower. Investors are focused on a heavy week of mega-cap tech earnings and the upcoming Fed meeting. Other notable movers included rare earth names, CoreWeave after Nvidia's investment, GameStop on Michael Burry's disclosed buying, and decliners like Booz Allen, Trade Desk and Revolution Medicines.
- Major U.S. indexes rose modestly, led by large caps; Russell 2000 fell.
- Mega-cap tech earnings this week are seen as key for market momentum.
- The Fed meeting and Powell press conference are a major focus.
- Rare earth stocks moved on a $1.6B non-binding Commerce Department agreement with USA Rare Earth.
- Nvidia's additional $2B investment in CoreWeave revived circular financing discussion.
- GameStop rose after Michael Burry said he has been buying shares.
- Booz Allen, Trade Desk and Revolution Medicines fell on company-specific news.
- Light volume and stable 10-year yields ahead of the Fed.
Ideas
Long GameStop on book value, Cohen.
Michael Burry says he owns GameStop and has been buying recently because he expects to be buying at what may soon be around 1x tangible book value and 1x net asset value. He sees value in young Ryan Cohen deploying the company's capital and cash flows over the long term and says he is not counting on a short squeeze to realize long-term value.
Up Next
This Bloomberg Markets video, published January 26, 2026, features Michael Burry discussing GME. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Michael Burry · Tickers: GME