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By STAN CHOE, Associated Press Business Writer

NEW YORK (AP) — The worst day for Microsoft in years is pulling the U.S. stock market away from its record heights on Thursday. Gold’s price, meanwhile, keeps ripping to more records in its astounding run as investors look for safer places to park their money.

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The S&P 500 sank 1% after flirting earlier in the morning with its all-time high. The Dow Jones Industrial Average was down 174 points, or 0.4%, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 1.8% lower.

Microsoft was the heaviest weight on the market by far, and it sank 11.5% even though the tech giant reported stronger profit and revenue for the latest quarter than analysts expected. Investors honed in instead on how much Microsoft is spending on investments, whether growth in its Azure cloud business will slow and how long its push into artificial-intelligence will take to turn into big profits. read more

The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

January offers a fresh start for our finances — but it begins with a look back.

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Before setting goals or intentions for the new year, step back to reflect on what went right (and wrong) in 2025, suggests D’Andre Clayton, co-founder of Clayton Financial Solutions in Greensboro, North Carolina.

“Take out your credit card and bank statements, and really take a look at them,” he says. read more

By MATT OTT, Associated Press Business Writer

WASHINGTON (AP) — U.S. applications for unemployment benefits inched down modestly last week, remaining at historically healthy levels despite recent high-profile layoff announcements.

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Applications for jobless aid for the week ending Jan. 24 fell by 1,000 to 209,000 from the previous week’s number which was revised upward by 10,000, the Labor Department reported Thursday. Analysts surveyed by the data firm FactSet were expecting 205,000 new applications.

Applications for unemployment benefits are seen as representative of U.S. layoffs and are close to a real-time indicator of the health of the job market. read more

Sitting between a pair of Space Force colonels in room full of military and commercial aerospace representatives, U.S. Rep. Mike Haridopolos spoke his mind about some of the hurdles that have slowed launch endeavors in the U.S.

“What frustrates me as an American is capitalism is supposed to be faster than communism, and yet you have run into [times] — [for] many companies in this very room — when it’s the government that’s hampering your success. I won’t name acronyms, but we know them all,” he said.

Haridopolos, who represents the Space Coast in Congress and leads the U.S. House Space and Aeronautics Subcommittee, was speaking Wednesday on a panel at the Space Mobility Conference, a one-day gathering put on by the Space Force that’s part of four days of Commercial Space Week events at the Orange County Convention Center.

He did call out the Environmental Protection Agency, which he said would at times not approve things “because of that bureaucratic inertia.” Another common target from many attendees of the conference has been the paperwork required by the Federal Aviation Administration. read more

By MICHELLE CHAPMAN, Associated Press Business Writer

Dow is planning to cut approximately 4,500 jobs as the chemicals maker puts more emphasis on using artificial intelligence and automation in its business.

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The company said Thursday that it anticipates about $600 million to $800 million in severance costs related to the cuts. Those costs are part of a broader plan aimed at simplifying operations and streamlining.

Shares of Dow Inc., which has about 34,600 employees globally, fell 2% before the market opened. Dow is based in Midland, Michigan.

In January 2025 Dow executives said the company was seeking $1 billion in cost savings and anticipated cutting about 1,500 jobs worldwide. In July, it announced the closings of three European plants that would eliminate 800 jobs. read more