General Market News

US stocks opened higher on Tuesday with the Dow Jones Industrial Average jumping 239 points (0.5%) to reach a new all-time high, despite weaker-than-expected retail sales data. The S&P 500 and Nasdaq Composite each gained 0.1% as investors looked ahead to key jobs and inflation reports due later in the week.

• December retail sales came in flat versus expectations of 0.4% growth, with year-over-year sales rising only 2.4% compared to 3.3% in November, signaling slower consumer spending during the holiday season
• The S&P 500 reclaimed its 50-day and 100-day moving averages after briefly dipping below them last week, a technical signal that traders view as bullish
• Investors are now focused on the monthly US jobs report due Wednesday and the January consumer price index on Friday, which could shape Federal Reserve policy expectations

U.S. retail sales remained flat in December, falling short of economist expectations for a 0.5% increase according to the Dow Jones consensus. The disappointing data suggests weaker consumer spending during the crucial holiday shopping season, which could signal concerns about economic momentum.

• Retail sales showed 0% growth in December versus the 0.5% increase economists had forecast
• The miss indicates potential softness in consumer demand during the typically strong holiday retail period
• Weaker-than-expected retail performance may influence Federal Reserve policy decisions and economic outlook assessments

U.S. retail sales were unexpectedly flat in December 2024, missing economist forecasts of a 0.4% increase and signaling weaker consumer spending momentum heading into the new year. Core retail sales, which closely track GDP's consumer spending component, fell 0.1% and November's figures were revised downward, likely prompting economists to lower fourth-quarter GDP estimates.

• Retail sales showed 0% growth in December following a 0.6% increase in November, defying economist expectations of 0.4% growth
• Core retail sales (excluding autos, gas, building materials, and food services) declined 0.1% in December, with November's gain revised down from 0.4% to 0.2%
• Consumer saving rate fell to a three-year low of 3.5% in November as shoppers maintained spending despite economic concerns about tariffs and a softening labor market

US equity futures showed mixed signals on Tuesday, with Dow futures edging higher toward record territory while S&P 500 and Nasdaq futures remained flat. Investors are adopting a cautious stance ahead of key economic data including retail sales, jobs reports, and inflation figures that will test whether the economy can achieve a soft landing.

• The Dow reached a fresh record close while tech-heavy indices marked time, reflecting incremental advances rather than decisive breakouts as investors remain 'willing to stay long risk assets, but only just'
• A crowded economic calendar featuring retail sales data, US jobs report, and inflation figures will determine market conviction, with recent labor market cooling raising hopes for a softer landing but also increasing sensitivity to upside surprises
• Gold prices remain elevated as a hedge while Bitcoin has struggled to regain momentum, highlighting fragile confidence in speculative assets as markets await confirmation that growth can slow without breaking

Major S&P 500 consumer discretionary companies including Hasbro, Expedia Group, and DoorDash are reporting fourth-quarter earnings this week, offering the first concrete data on how Trump's tariffs and policies are affecting consumer spending. The sector, which includes discretionary purchases like toys, travel, and food delivery, serves as a key indicator of economic health beyond the tech giants that reported last week.

• Hasbro leads sector with expected Q4 profit growth of 106%, despite toy industry's vulnerability to tariffs due to overseas supply chains; stock up 18% year-to-date with RS Rating of 88
• DoorDash expected to show 46% EPS growth for Q4, but stock down 18% this year with RS Rating falling to 20 as growth projections drop from 677% to just 42% by 2026
• Travel sector shows cooling trends as Expedia's EPS growth estimate falls to 20% for this year from 27% in 2025, reflecting potential impact of renewed nationalism on consumer travel behavior

U.S. stock index futures rose in premarket trading on February 10, 2026, extending a two-day rally as investors shifted back to tech stocks after last week's rotation into old economy names. The rebound comes ahead of retail sales data, key earnings reports from Coca-Cola, Hasbro, and Spotify, and critical economic data including NFP and CPI later in the week.

• Tech stocks rebounded as bargain-hunters bought shares after AI-driven selling made them 'too cheap to ignore,' with the S&P 500 holding above its 50-day moving average support at 6,937.55
• Dow Futures traded at 50,242 (+0.05%), S&P futures at 6,989.75 (+0.09%), and Nasdaq futures at 25,361.25 (+0.03%) ahead of Tuesday's retail sales report
• Early premarket movers included ON Semiconductor (-6%), Upwork (-22%), and Aecom (+3%), while analysts noted the 'buy the dip' strategy remains active with the 200-day MA at 6,594.25 as major support

Treasury yields declined on Tuesday as investors awaited December retail sales data and other delayed economic reports. The 10-year Treasury yield fell to 4.184%, while markets prepared for a wave of postponed data releases including January's jobs report. Investors are also monitoring reports that Chinese authorities encouraged banks to reduce U.S. Treasury holdings.

• December retail sales expected to rise 0.4% month-over-month, down from 0.6% in November, according to Reuters poll of economists
• January nonfarm payrolls report rescheduled for Wednesday after being delayed by partial government shutdown, with January CPI data due Friday showing forecast annual inflation cooling to 2.5%
• Markets tracking reports that Chinese authorities advised banks to reduce U.S. Treasury exposure due to concentration risk and volatility concerns

U.S. markets rose Monday with the S&P 500 and Nasdaq gaining on a tech rebound, led by big tech stocks. Asian markets followed suit Tuesday, with Japan's Nikkei 225 jumping over 2% as investors bet on Prime Minister Sanae Takaichi's economic policies in the so-called 'Takaichi trade.' Despite the rally, concerns persist about Big Tech's heavy capital expenditures and potential overcapacity in data centers.

• The Nasdaq jumped 0.9% and S&P 500 rose 0.47% Monday, with major tech stocks leading gains, while the Dow reached another record close with a 0.04% increase
• Alphabet warned of potential 'excess capacity' in data centers but is planning to raise funds through a U.S. dollar bond sale that includes a 100-year sterling-denominated bond
• Taiwan's Vice Premier called it 'impossible' to relocate 40% of chip supply chain to the U.S., pushing back against plans outlined by U.S. Commerce Secretary Howard Lutnick

US stock futures edged lower in Asian trading on February 10, 2026, as traders awaited key economic data including retail sales and corporate earnings from Coca-Cola and Ford. Despite the overnight pullback, expectations of a Federal Reserve rate cut in the first half of 2026 continue to support a bullish medium-term outlook for major indices.

• White House economic advisor warned of potential near-term weakness in labor market data, though bets on an H1 2026 Fed rate cut remain supportive of equity markets
• US retail sales for December are expected to rise 0.4% month-on-month, with earnings from consumer-focused companies Coca-Cola and Ford providing additional insights into demand trends
• Technical indicators show Nasdaq 100 E-mini trading below its 50-day EMA but above 200-day EMA, while Dow Jones and S&P 500 E-mini remain above both EMAs, signaling mixed near-term but bullish longer-term outlook

U.S. and Japanese markets rose Monday, with the S&P 500 hitting back-to-back gains and Japan's Nikkei reaching new highs following Prime Minister Sanae Takaichi's landslide election victory. The 'Takaichi trade' is driving expectations of looser monetary policy and higher government spending, boosting equities while weakening the yen. Big Tech stocks rallied despite ongoing concerns about AI infrastructure capex and data center capacity.

• Big Tech led U.S. gains with one unnamed stock jumping 9.6%, helping the Nasdaq climb 0.9% and S&P 500 rise 0.47% to another record close
• Alphabet plans to raise funds from a U.S. dollar bond sale including a 100-year sterling-denominated bond, despite warning of potential 'excess capacity' in data centers
• S&P Global Ratings lowered China property sales forecast for 2026 to a 10-15% decline, worse than the October prediction of 5-8% decline

The Trump administration plans to exempt major tech firms including Amazon, Google, and Microsoft from upcoming chip tariffs if they build AI data centers, according to a Financial Times report. The carve-outs would be tied to investment commitments from Taiwan Semiconductor Manufacturing Company (TSMC), which is investing $165 billion in Arizona factories. The plans remain in flux and have not yet been signed by President Trump.

• The Commerce Department would provide tariff exemptions specifically linked to TSMC's investment commitments in the U.S.
• TSMC, the world's largest contract chipmaker, is investing $165 billion to build manufacturing facilities in Arizona
• The carve-out policy has not been finalized or signed by Trump, according to administration officials

Clear Street Group is leading a busy IPO week with a planned $1 billion offering that values the cloud-based capital markets platform firm at approximately $12-13 billion. The uptick in IPO activity follows a slow January, with seven companies going public last week including Once Upon a Farm, which has surged 35% since its debut.

• Clear Street plans to offer 23.8 million shares on Nasdaq under symbol CLRS, with trading expected Friday; Goldman Sachs, BofA Securities, Morgan Stanley and BMO Capital Markets are lead underwriters
• Other notable IPOs this week include Brazilian fintech AGI raising $720 million, power plant builder SOLV Energy raising $482 million, and fuel distributor Arko Petroleum raising $200 million
• Once Upon a Farm, cofounded by actress Jennifer Garner, raised approximately $200 million in its IPO last week and has gained 35% from its $18 opening price

Goldman Sachs' Panic Index has reached 9.22, signaling 'max fear' levels in markets, with analysts warning of up to $33 billion in potential equity selling this week. Despite Friday's 2% rally in the S&P 500, Goldman estimates an additional $80 billion could be shed if the index falls below 6,707, driven by systematic fund selling amid elevated volatility.

• Goldman's Panic Index hit 9.22, reflecting investors paying up for downside protection as market volatility surges
• Analysts estimate $33 billion in US equity selling could occur this week, with potential for $80 billion more if S&P 500 breaks below 6,707
• Commodity Trading Advisers are expected to remain net sellers regardless of market direction, while Friday's 2% rally is viewed as a relief bounce rather than a fundamental shift

Wall Street anticipates a breakout year for U.S. IPOs in 2026, with Goldman Sachs projecting a record $160 billion in proceeds. High-profile private companies including SpaceX, OpenAI, and Anthropic are positioned for potential mega listings. A strong pipeline of late-stage private companies is driving optimism, though risks from recent market volatility remain.

• SpaceX is planning a blockbuster IPO potentially valuing the company at over $200 billion as soon as June 2026, which could surpass Saudi Aramco's 2019 record if it raises more than $25.6 billion
• OpenAI is reportedly preparing for an IPO that could value it at up to $1 trillion, with a possible filing in the second half of 2026, though its CFO has stated an IPO is not in near-term plans
• AI startup Anthropic hired Wilson Sonsini law firm to prepare for a potential 2026 IPO, though the company has not officially decided on timing or whether to go public

US stocks opened lower on Monday, with the Dow falling over 100 points and the Nasdaq down 0.4%, as investors turned cautious ahead of key economic data releases and earnings reports. The decline follows Friday's historic session when the Dow surged 1,200 points to close above 50,000 for the first time. Markets are now focused on delayed January jobs data and inflation figures due later this week.

• The Dow's historic Friday rally of roughly 1,200 points (2.5%) marked its first close above 50,000, following a sharp technology-driven selloff earlier in the week
• Wednesday's delayed January nonfarm payrolls report is expected to show just 55,000 jobs added, significantly weaker than normal, with economists anticipating downward revisions to prior year data
• Friday's consumer price index for January is forecast at 2.5% annually, while corporate earnings from Coca-Cola and Ford Motor on Tuesday could influence sector rotation away from technology stocks

Waters Corporation forecast first-quarter 2026 profit below Wall Street expectations, causing shares to slide, though the company projected better-than-expected full-year profit. The weaker outlook reflects challenges with its recent acquisition of Becton Dickinson's bioscience and diagnostics business, which posted lower-than-anticipated fourth-quarter sales of $766 million versus analyst estimates of $1.3 billion.

• Waters expects Q1 2026 earnings of $2.25-$2.35 per share, missing analyst estimates of $2.46 per share
• Full-year 2026 profit forecast of $14.30-$14.50 per share exceeded consensus estimate of $14.15 per share, with projected 5.3% combined company sales growth
• The acquired Becton Dickinson unit is expected to add approximately $3 billion to 2026 revenue, but Q4 sales of $766 million fell significantly short of the $1.3 billion estimate, suggesting operational improvement challenges

AI stocks experienced increased volatility in early 2026 as major tech companies Amazon, Alphabet, and Meta significantly ramped up capital spending for AI infrastructure. Software stocks were particularly hard hit amid concerns about AI coding tools and automation potentially disrupting traditional business models, while some optical networking and data infrastructure plays remained strong. Hyperscalers are now expected to spend $645 billion in 2026, a 56% increase representing $230 billion more than the prior year.

• Four major hyperscalers (Google, Amazon, Meta, Microsoft) projected to spend $645 billion in 2026, up 56% or $230 billion year-over-year, raising concerns about debt financing and infrastructure depreciation
• Software stocks faced significant selloffs following Anthropic's launch of AI automation tools for coding, legal, and financial work, with investors worried about disruption to 'per seat' licensing models and potential job elimination
• Performance diverged sharply among AI stocks: Lumentum up 49% YTD 2026 and Ciena up 16%, while Oracle down 26%, Salesforce down 28%, and Palantir down 23%

The Trump administration proposed eliminating fired federal employees' right to appeal dismissals to the independent Merit Systems Protection Board, instead requiring appeals through the Office of Personnel Management, which reports directly to President Trump. This change would further limit legal recourse for workers amid mass federal layoffs, with OPM reporting 317,000 employees departed in 2025. The proposal represents another step in undermining job protections for federal workers during Trump's second term.

• Fired federal workers would lose access to the independent Merit Systems Protection Board for appeals, instead forced to appeal through OPM whose director reports to Trump
• The Trump administration pushed out 317,000 federal employees in 2025, though OPM Director Scott Kupor claims only a fraction were fired with most accepting buyouts or leaving voluntarily
• The proposal builds on Trump's broader efforts to shrink federal government and undermine enforcement offices that protect federal employee job rights

US stock futures retreated Monday morning, reversing relief rally gains from the prior week when the Dow crossed 50,000 for the first time. The pullback follows volatile trading sparked by algorithmic overreactions to AI headlines, particularly surrounding Anthropic's new Claude corporate tools. Market analysts suggest the dramatic swings reflected momentum trading rather than fundamental changes.

• The Dow surged 1,207 points (2.5%) on Friday to close above 50,000 at 50,115, while the S&P 500 jumped 2% and Nasdaq climbed 2.2%, recovering from Thursday's AI-driven selloff
• Algorithmic trading amplified market swings as traders initially panicked over Anthropic's AI launch, fearing job losses and margin compression, before reversing course when no fundamental changes materialized
• Key economic data looms this week including retail sales, mortgage applications, and January's delayed non-farm payrolls report

U.S. stock futures edged lower early Monday as traders positioned ahead of key economic data releases, including a delayed jobs report on Wednesday and CPI data on Friday. The pullback follows a strong Friday rebound that lifted the Dow above 50,000 for the first time and temporarily relieved pressure on tech stocks after an eight-day losing streak in the software sector.

• Wednesday's delayed jobs report expects 55,000 new jobs (down from a weak 22,000 private-payroll print), with outcomes likely to influence Federal Reserve rate expectations and near-term market sentiment.
• Friday's CPI data is forecast at 2.5% annual increase; a cooler reading could support risk assets while a hotter number may reignite inflation concerns after recent interest-rate repricing.
• The March E-mini S&P 500 futures contract is testing its 50-day moving average at 6934.55, with a sustained break above 6980.25 needed to signal true breakout momentum toward the record high at 7043.00.