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Updated Wed, February 4, 2026 astatine 10:10 AM CST 2 min read
US stocks were mixed connected Wednesday arsenic Wall Street assessed a caller question of net and waited for Alphabet (GOOG, GOOGL) results, eyeing the fallout from an AI-stoked slump successful bundle stocks.
The Dow Jones Industrial Average (^DJI) roseate astir 0.6%, arsenic a rotation distant from tech stocks and into much blue-chip names gathered apace. The S&P 500 (^GSPC) slipped 0.3%, portion the Nasdaq Composite (^IXIC) fell implicit 1%, continuing their bruising from Tuesday's session.
DJI - Free Realtime Quote USD
49,505.50 +264.51 (+0.54%)
As of 11:20:03 AM EST. Market Open.
^DJI ^GSPC ^IXIC
Wall Street is trying to find its feet aft AI disruption fears fueled a unreserved retired of bundle stocks — spilling implicit into a heavy planetary sell-off that deed Europe and Asia markets alike. Meanwhile, broader AI gloom has helped spur the rotation from high-profile tech names into worth stocks, with Nvidia (NVDA) and Microsoft (MSFT) some taking a hit.
The spotlight is connected Alphabet (GOOG) and Arm Holdings (ARM) results aboriginal connected Wednesday, with the absorption connected AI demand. After that, the countdown volition statesman for Amazon's (AMZN) quarterly study connected Thursday.
Even better-than-expected net are nary longer capable to person the market, JPMorgan warned, unless the institution reporting tin amusement that AI volition beryllium a tailwind alternatively than a headwind. Advanced Micro Devices (AMD) shares plummeted arsenic the chipmaker's anemic income outlook formed uncertainty connected its quality to instrumentality connected AI bellwether Nvidia.
In a motion of cracks successful the labour market, an ADP study showed employers added conscionable 22,000 jobs successful January, versus the 45,000 expected. The backstage information has taken connected outsized value amid the hold of national jobs information from the partial authorities shutdown that ended Tuesday.
Meanwhile, golden (GC=F) gained amid US-Iran tensions, but its comeback from a hefty record-shedding slump faltered arsenic it fell backmost beneath $5,000 an ounce.
In corporates, pharma fortunes diverged arsenic Eli Lilly's (LLY) banal jumped aft it posted an upbeat 2026 nett forecast acknowledgment to soaring request for its weight-loss drugs. But shares successful rival Novo Nordisk (NVO, NOVO-B.CO) tumbled aft the shaper of Ozempic and Wegovy shocked investors by forecasting a steep driblet successful sales.
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'The backlog conscionable keeps growing,' Eaton CEO says arsenic information halfway orders tripled
During the 4th fourth net telephone for powerfulness absorption elephantine Eaton Corporation (ETN), CEO Paulo Ruiz Sternadt said the company's backlog of orders "just keeps growing" and projected a continued firehose of request arsenic the AI arms contention powers on.
Data halfway orders astatine Eaton astir tripled successful the 4th fourth implicit the anterior year, portion the backlog for its "Electrical Americas" part grew by 31% quarter-on-quarter to deed a caller record, Sternadt said during the telephone connected Tuesday.
Eaton's banal terms spiked aft the study and is up by much than 6% implicit the past 5 trading sessions and by much than 16% connected the year.
Eaton reported 4th fourth gross astatine $7.05 billion, outperforming gross of $6.24 cardinal from a twelvemonth agone but falling beneath analysts' expectations of $7.09 billion.
On the bottommost line, the institution reported adjusted net per stock of $3.33 per share, outperforming estimates of $3.32 per share.
Talking astir Eaton's beardown bid backlog, Sternadt attributed overmuch of the company's occurrence to the request from AI hyperscalers.
"You astir apt noticed connected caller quality from the hyperscalers that they reconfirmed their capex plans for 2026 — this is besides large quality that supports these projects," Sternadt said. "Multi-tenant and caller unreality players, they are truthful active, ne'er seen them truthful progressive arsenic they are today. If I'm to summarize the marketplace representation here, tons of strength, and these projects volition instrumentality years to complete. So that's what gives america the optimism successful the future."
Eli Lilly banal surges aft institution touts beardown income outlook arsenic rival Novo Nordisk continues plunge
Eli Lilly (LLY) banal roseate arsenic overmuch arsenic 7% aboriginal Wednesday aft the pharmaceutical elephantine rolled retired a beardown income outlook, touting the spot of its value nonaccomplishment portfolio and pressuring shares of Danish drugmaker Novo Nordisk (NVO) for a second-straight day.
On Tuesday, Novo Nordisk said it expects a 5% to 13% driblet successful income connected 2026 owed to expanding contention and regulation. Since the commencement of February, Novo Nordisk has mislaid astir $50 cardinal successful marketplace headdress arsenic investors person fled the stock.
With Wednesday's surge, Eli Lilly's marketplace headdress is present northbound of $950 cardinal arsenic it looks to retake the $1 trillion marketplace headdress threshold it concisely cleared earlier this year.
NYSE - Nasdaq Real Time Price USD
47.69 -2.61 (-5.20%)
As of 11:20:00 AM EST. Market Open.
NVO LLY
Eli Lilly reported Wednesday greeting that it expects 2026 gross to turn sharply, with income rising betwixt 20%-25% astatine the midpoint of its estimates. The institution is forecasting revenues of $80 billion-$83 cardinal compared to 2025 gross of $65.2 billion.
"We reached millions much patients—launching Inluriyo, expanding Mounjaro and Kisunla globally, and submitting orforglipron for approvalm," Eli Lilly CEO David Ricks said successful the company's fourth-quarter net release. "We expanded our manufacturing capacity, and done our U.S. authorities agreement, opened caller entree to obesity medicines."
Why the bundle banal plunge whitethorn not beryllium implicit yet
The bundle assemblage has been shaken by a brutal sell-off implicit the past fewer days arsenic a chorus of capitalist fears has grown implicit AI-driven disruption and displacement crossed the industry. Major names specified arsenic SAP SE (SAP), Salesforce (CRM), and ServiceNow (NOW) person each seen their banal prices autumn much than 15% implicit the past 5 trading sessions.
Yahoo Finance's Brian Sozzi says the sell-off has much country to run. He writes:
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US banal marketplace opens connected shaky footing
US stocks opened connected wobbly crushed to commencement Wednesday's trading league arsenic the marketplace looked to dependable aft a tech-led descent amid a caller question of earnings, portion investors waited for Alphabet (GOOG, GOOGL) results to uncover the company's AI mojo.
The blue-chip Dow Jones Industrial Average (^DJI) roseate connected Wednesday morning, picking up astir 0.5%. The S&P 500 (^GSPC) hovered conscionable supra the level enactment aft swinging betwixt tiny gains and losses, portion the tech-heavy Nasdaq Composite (^IXIC) ticked little aft tech stocks bore the brunt of the selling connected Tuesday.
DJI - Free Realtime Quote USD
49,505.50 +264.51 (+0.54%)
As of 11:20:03 AM EST. Market Open.
^DJI ^GSPC ^IXIC
Wednesday's spotlight for Wall Street and Main Street alike volition absorption connected net from Alphabet (GOOG) and Arm Holdings (ARM) results connected Wednesday, with investors look for immoderate signs of increasing oregon shrinking AI demand. Those results volition beryllium followed by Amazon's (AMZN) quarterly merchandise connected Thursday.
Elsewhere successful the market, golden (GC=F) continued to regain ground, rising supra $5,000 an ounce connected tensions betwixt Washington and Tehran, portion Bitcoin (BTC-USD) continued its plunge, crossing beneath $75,000.
In the labour market, employers added conscionable 22,000 jobs successful January, according to information released Wednesday greeting from ADP, good beneath statement estimates of 45,000. Friday's planned national jobs study has been indefinitely delayed by the partial authorities shutdown that ended Tuesday.
ADP: US adds 22,000 jobs successful January, falling acold abbreviated of estimates
US backstage employers added 22,000 jobs successful January, according to information released by ADP, falling acold beneath expert estimates of 45,000 jobs added.
The speechmaking connected backstage payrolls, released Wednesday greeting by ADP, fell abbreviated of each economist estimates compiled by Bloomberg, a imaginable motion of a still-cooling labour market. January's additions besides fell abbreviated of December's additions of 41,000.
US economists astatine Deutsche Bank noted successful a study Wednesday greeting that January "tends to beryllium the largest nett occupation nonaccomplishment period arsenic seasonal hiring up of the holidays unwinds."
The healthcare assemblage was a standout for January occupation growth, ADP said, adding 74,000 jobs, portion manufacturing continued its slowdown, shedding backstage payrolls each period since March 2024.
"Job instauration took a measurement backmost successful 2025, with backstage employers adding 398,000 jobs, down from 771,000 successful 2024," ADP main economist Nela Richardson said successful a statement. "While we've seen a continuous and melodramatic slowdown successful occupation instauration for the past 3 years, wage maturation has remained stable."
Under mean circumstances, the marketplace would person gotten a wider speechmaking connected the authorities of the labour marketplace successful the national government's accustomed jobs study connected Friday. However, the BLS has said that the report's merchandise volition beryllium delayed owed to the partial authorities shutdown, which ended connected Tuesday.
That means that the week's backstage information releases — from ADP connected Wednesday and from the occupation outplacement steadfast Challenger, Gray & Christmas with layoffs announcements connected Thursday — volition instrumentality connected accrued value arsenic investors hunt for a work connected labor.
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The SpaceX mega merger boosts the Musk trade
Yahoo Finance's Hamza Shaban writes successful today's Morning Brief:
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Silicon Labs banal jumps aft Texas Instruments acquisition news
Silicon Laboratories' (SLAB) banal soared 52% earlier the doorbell connected Wednesday aft Texas Instruments (TXN) announced it would beryllium buying the spot decorator successful a woody worthy $7.5 billion.
The woody volition let Texas Instruments to grow its concern into wireless connectivity chips.
Reuters reports:
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Eli Lilly banal rises aft reporting upbeat 2026 nett forecast
Eli Lilly (LLY) banal jumped 7% earlier the doorbell connected Wednesday aft the pharmaceutical radical provided a 2026 nett forecast supra Wall Street estimates. The institution said it hopes request for its weight-loss drugs rises arsenic it prepares to merchandise its oral weight-loss pill this year.
NYSE - Nasdaq Real Time Price USD
1,100.26 +96.80 (+9.65%)
As of 11:20:03 AM EST. Market Open.
Reuters reports:
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Bitcoin-led crypto rout erases astir $500 cardinal successful a week
Bitcoin (BTC-USD) drifted little earlier the bell, eyeing a interruption beneath $76,000 per token to proceed its slump.
The integer currency has plunged astir 40% since notching an all-time precocious successful October, sparking a informing from Michael Burry. "The Big Short" trader said the plummet could cascade into a self-reinforcing "death spiral" that could deed companies with large bitcoin treasuries.
Bloomberg reports:
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Alphabet acceptable to study Q4 net successful trial of stock's rally amid Google's AI wins
Microsoft's net stumble has intensified the absorption connected results from megacap names arsenic AI worries heap unit connected tech stocks.
The adjacent item is Alphabet (GOOGL, GOOG), acceptable to study Q4 results aft marketplace adjacent connected Wednesday amid increasing optimism from Wall Street for the Google parent's AI leadership.
Yahoo Finance's Laura Bratton reports:
NasdaqGS - Nasdaq Real Time Price USD
333.70 -7.00 (-2.05%)
As of 11:20:02 AM EST. Market Open.
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Supermicro banal jumps aft raising yearly gross forecast
Supermicro (SMCI) banal jumped 11% earlier the doorbell connected Wednesday aft the server shaper raised its yearly gross forecast connected Tuesday, citing continued beardown request for its AI servers driven by companies expanding their information halfway capacity.
Reuters reports:
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Enphase jumps aft net apical analysts estimates
Enphase Energy (ENPH) banal soared 20% during premarket hours aft the company's nett and gross bushed analysts' estimates. The exertion company's shares person risen 10% implicit the past month, but are down astir 42% for the year.
The AP reports:
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Chipotle banal sinks aft institution reports Q4 same-store income driblet 2.5%
Chipotle (CMG) banal dropped 5% during premarket trading connected Wednesday. The burrito-bowl concatenation said connected Tuesday day that same-store income fell successful the 4th fourth and told investors it expects nary income maturation successful 2026 arsenic it continued to navigate a diminution successful traffic.
Yahoo Finance's Brooke DiPalma reports:
Read the afloat net communicative here.
Indian tech stocks plunge arsenic Anthropic AI tools spark workforce concerns
Reuters reports:
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Nvidia reportedly nearing extremity to $20 cardinal concern woody into OpenAI
Bloomberg reports:
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As of 11:20:03 AM EST. Market Open.
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