Moe’s Market Memo – January 30, 2026
Weekly data-driven insights on the markets and economy
Mohammad Abouchleih, MBA, CIMA®
Investment Analyst
Fed stands steady
The Federal Reserve left interest rates unchanged on Wednesday, citing stronger economic growth and a more balanced outlook between inflation and the labor market. Officials offered little guidance on when cuts might resume, with markets expecting no moves until mid‑year.1
Amazon’s corporate cuts
Amazon announced on Wednesday it will lay off roughly 16,000 corporate employees, its second major round of cuts since October, as part of a broader effort to streamline operations and reduce bureaucracy. The move follows an internal push to consolidate management layers and redirect resources toward artificial intelligence and data‑center expansion. The reductions bring total corporate and tech layoffs to about 30,000 since last fall.2
Flat rates rattle insurers
Healthcare stocks including Humana, UnitedHealth Group, CVS Health, Elevance, and Centene slid on Monday and Tuesday after the Trump administration proposed keeping Medicare Advantage rates essentially flat for 2027. The lower‑than‑expected payment outlook sparked a broad pullback across the managed‑care sector. The proposal also renewed concerns about future profitability in Medicare Advantage plans.3
Consumption carries GDP
A January report from MRB Partners shows that consumption—not artificial intelligence—was the primary driver of U.S. GDP growth in 2025. AI‑related capital spending was the second‑largest contributor, but its impact was smaller once imports of high‑tech equipment were accounted for. While AI played a meaningful role, the U.S. consumer remained the central force behind economic expansion.4
Minnesota CEOs mobilize
On Sunday, Minnesota’s top CEOs—including leaders from Target, UnitedHealth, 3M, and Cargill—called for immediate deescalation after a federal immigration operation in Minneapolis resulted in the death of U.S. citizen Alex Pretti. They warned that the standoff between federal and state authorities is creating disruption and operational risks. The group has asked officials to restore stability in Minnesota, which has a high concentration of Fortune 500 companies.5
TikTok transfer
Last Friday, TikTok’s U.S. assets were transferred to a new majority‑American‑owned joint venture backed by Oracle, Silver Lake, and MGX, concluding a yearslong effort to address national security concerns. The agreement shifts control of U.S. user data, algorithm security, and content moderation to the new entity under defined safeguards. TikTok’s user experience is expected to remain largely unchanged as the algorithm is retrained on U.S. data.6
[1] Cox, Jeff. “Fed holds key interest rate steady as economic view improves.” CNBC, 28 January 2026, https://www.cnbc.com/2026/01/28/fed-rate-decision-january-2026.html. Accessed 28 January 2026.
[2] Palmer, Annie. “Amazon laying off about 16,000 corporate workers in latest anti‑bureaucracy push.” CNBC, 28 January 2026, https://www.cnbc.com/2026/01/28/amazon-layoffs-anti-bureaucracy-ai.html. Accessed 28 January 2026.
[3] Singh, Pia and Constantino, Annika Kim. “Health insurers tumble after Trump administration proposes keeping Medicare Advantage rates flat next year.” CNBC, 26 January 2026, https://www.cnbc.com/2026/01/26/health-insurers-tumble-after-trump-proposes-keeping-medicare-rates-flat.html. Accessed 26 January 2026.
[4] Singh, Pia. “AI spending wasn’t the biggest engine of U.S. economic growth in 2025, despite popular assumptions.” CNBC, 26 January 2026, https://www.cnbc.com/2026/01/26/ai-wasnt-the-biggest-engine-of-us-gdp-growth-in-2025.html. Accessed 26 January 2026.
[5] Downs, Garrett. “Alex Pretti killing: Minnesota CEOs, including UnitedHealth, Target, call for ‘immediate deescalation’.” CNBC, 25 January 2026, https://www.cnbc.com/2026/01/25/alex-pretti-ceo-minneapolis-minnesota.html. Accessed 26 January 2026.
[6] Duffy, Clare. “The deal to secure TikTok’s future in the US has finally closed.” CNN, 23 January 2026, https://www.cnn.com/2026/01/22/tech/tiktok-us-deal-closes. Accessed 26 January 2026.
This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions.
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