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Updated Thu, February 5, 2026 astatine 8:36 AM CST 2 min read
US stocks turned little connected Thursday successful an seemingly fruitless hunt for a reprieve from a building tech sell-off arsenic investors awaited Amazon earnings, assessed Alphabet's large AI spending plans, and digested jobs information that signaled caller weakness successful the labour market.
The S&P 500 (^GSPC) moved astir 0.9% lower, portion the Nasdaq Composite (^IXIC) shed 1.3%. The Dow Jones Industrial Average (^DJI), which includes less tech names, edged astir 0.5% lower.
DJI - Free Realtime Quote USD
49,224.60 -276.70 (-0.56%)
As of 9:40:45 AM EST. Market Open.
^DJI ^IXIC ^GSPC
The marketplace is successful the midst of a trillion-dollar tech wipeout, arsenic investors measurement whether immoderate bundle stocks took excessively large a beating. The losses were spurred by worries astir AI disruption to established bundle players — a hazard that had been overlooked by investors focused connected the fallout from monolithic AI spending until recently.
Wall Street is inactive digesting the latest batch of firm earnings, with Big Tech's AI buildout and request successful precocious focus. Alphabet (GOOG) shares slid implicit 5% aft the Google genitor outlined a important ramp-up successful AI concern — to arsenic precocious arsenic $185 cardinal — successful its quarterly results precocious Wednesday.
The countdown is present connected to Amazon's (AMZN) report, acceptable for merchandise aft Thursday's marketplace close. Eyes are connected the all-important AWS unreality unit, expected to present a 21% leap successful sales.
Meanwhile, the labour marketplace flashed caller signals of weakness: Weekly jobless claims roseate much than expected, portion a caller study recovered that past period marked the worst January for layoff announcements since 2009. The updates came aft Wednesday's ADP study showed businesses added less jobs successful January than expected. The government's monthly jobs study is owed adjacent Wednesday.
Elsewhere, metallic (SI=F) plunged arsenic overmuch arsenic 17%, erasing each of its two-day betterment arsenic Chinese buyers dumped holdings. While the precious metallic pared losses, Wall Street is debating whether the caller grounds rally successful metallic and golden (GC=F) ran excessively high, excessively accelerated — and if a further slump awaits.
Bitcoin (BTC-USD) besides sank aft Treasury Secretary Scott Bessent ruled retired a bailout for the integer currency — different disappointment for crypto markets hopeful for a boost from the Trump administration. The token broke beneath the cardinal $70,000 level amid a situation of confidence.
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Stocks tumble astatine the open
At the marketplace open, US stocks plunged for a 3rd time arsenic a wide sell-off successful tech names continued.
The tech-heavy Nasdaq Composite (^IXIC) led the mode lower, sinking 1.3%, portion the S&P 500 (^GSPC) shed 0.9%. The Dow Jones Industrial Average (^DJI), which includes less tech stocks, fell 0.5%.
DJI - Free Realtime Quote USD
49,224.60 -276.70 (-0.56%)
As of 9:40:45 AM EST. Market Open.
^DJI ^GSPC ^IXIC
US play jobless claims emergence by much than expected
US play applications for unemployment benefits accrued by much than expected past week, arsenic snowstorms crossed overmuch of the state whitethorn person led much radical to record for assistance.
Jobless claims for the week ending Jan. 31 accrued by 22,000 to 231,000 claims, exceeding economists' forecasts, the Labor Department reported Thursday.
Continuing claims, a proxy for the full fig of radical receiving authorities unemployment benefits, accrued to 1.84 million.
Distortions from wintertime upwind notwithstanding, the fig of Americans filing for jobless benefits suggests the labour marketplace remains broadly unchangeable if not cooling gradually.
Though successful a motion of cracks appearing successful the "low hire, debased fire" inclination that has characterized the labour marketplace for implicit a year, layoffs jumped successful January to their highest level for that period successful 17 years, according to Challenger information (scroll down for much connected this).
Last period was the worst January for layoff plans since 2009: Challenger
Bezos's 'darkest day' and the limits of billionaire-backed media
Yahoo Finance's Hamza Shaban reports:
Jeff Bezos came, helium saw, helium conquered.
Maybe not successful the mode you'd expect from a onetime fiscal savior of an iconic newspaper. There are present 2 Bezos eras astatine the Washington Post: The archetypal started erstwhile helium rescued it successful 2013. The 2nd began erstwhile helium saw it gutted, blessing wide layoffs the institution executed connected Wednesday.
... On societal media and successful quality sum successful the aftermath, Post employees, the labour union, and alumni (myself included) powerfully criticized the decision.
Others person pointed to much caller moves by Bezos.
Leading up to the Post's heavy cuts, respective media observers highlighted Amazon's tremendous fund to nutrient and marketplace the caller documentary "Melania," astir archetypal woman Melania Trump.
Amazon's bonzer spending prompted questions astir the movie moving arsenic a benignant of bribe from Bezos to the White House. (Amazon says they licensed the movie due to the fact that they deliberation radical volition emotion it. The film's Rotten Tomatoes scores and container bureau numbers person inspired a quality rhythm of their own.)
But the splashy Melania rollout provided an disfigured opposition to the austerity Bezos was serving down to the Post's newsroom. In the worst light, critics said Bezos was consenting to pain wealth to delight the president but was present unwilling to bash truthful for journalism successful the nationalist interest.
Read much here successful the takeaway from today's Morning Brief.
Nio banal jumps aft Chinese EV shaper expects to crook profitable
Chinese EV shaper Nio (NIO) sent its shareholders a nett alert connected Thursday morning, letting them cognize that the institution expects to station its first-ever nett successful the 4th quarter.
Nio said it volition spot an adjusted nett from operations of 200 cardinal Chinese yuan (approximately $29 million) to 700 cardinal yuan (approximately $100 million).
The institution attributed the nett to sustained income growth, improved margins from its merchandise mix, and ongoing cost-cutting measures.
Nio banal popped 6% successful premarket trading.
Estée Lauder shares tumble arsenic tariff concerns overshadow beardown Q2 results
Estee Lauder (EL) shares slumped 10% earlier the doorbell connected Thursday, contempt beating analysts' estimates connected net per stock and revenue, arsenic tariff woes sent the quality group's shares tumbling.
Investing.com reports:
Read much here.
Premarket trending tickers: Strategy, Tapestry and Baidu
Strategy (MSTR) banal fell implicit 5% during premarket hours connected Thursday aft bitcoin (BTC-USD) fell beneath 70,000. Strategy is 1 of the largest firm holders of cryptocurrency.
Tapestry (TPR) banal roseate 5% earlier the bell. Coach's genitor institution bushed analysts' estimates connected gross and raised its full-year guidance.
Baidu (BIDU) US-listed shares roseate 5% earlier the doorbell connected Thursday aft announcing plans to contented its archetypal dividend to shareholders, on with a three-year banal buyback programme worthy $5 billion.
Trillion-dollar tech wiipeout ensnares each stocks successful AI’s path
Bitcoin sinks aft Treasury Secretary Bessent says US authorities can't archer banks to bail retired crypto
Bitcoin (BTC-USD) tumbled, falling $71,000 per token connected Thursday aft Treasury Secretary Scott Bessent suggested the US authorities would not bail retired the cryptocurrency.
But the starring cryptocurrency was paring deeper overnight losses successful the aftermath of Bessent's comments, aft entering the cardinal mid-$70,000 enactment region.
Yahoo Finance's Ines Ferré and Grace O'Donnell report:
CCC - CoinMarketCap USD
70,515.98 -4,805.85 (-6.38%)
As of 2:38:00 PM UTC. Market Open.
Read much here.
Snap reports upbeat 4th fourth gross arsenic vacation play boosts advertisement spending
Snap (SNAP) banal galloped higher aft a beardown vacation 4th for advertizing lifted net supra Wall Street's estimates.
Snap banal roseate 6% earlier the doorbell connected Thursday.
For the 4th quarter, the video messaging app reported gross of $1.71 cardinal and net per stock of $0.03. That bushed Wall Street estimates of $1.7 cardinal successful gross and a $0.03 nonaccomplishment per share, according to S&P Global Market Intelligence.
Reuters reports:
Read much here.
E.l.f. Beauty banal jumps connected upbeat nett guidance
E.l.f. Beauty (ELF) demonstrated resilience successful the 4th fourth pursuing a hard 2025, with a beardown net bushed and guidance raise.
The affordable cosmetics shaper lifted its full-year 2026 income outlook to a scope of $1.6 cardinal to $1.61 cardinal from its erstwhile scope of $1.55 cardinal to $1.57 billion. The institution besides sees greater net per stock of $3.05-$3.10, an summation from the erstwhile scope of $2.80-$2.85.
The banal soared by arsenic overmuch arsenic 8% successful premarket trading connected Thursdayas the institution looks to regain its footing aft higher tariffs and different challenges led the banal to suffer 40% successful 2025. However, the banal pared immoderate of those gains, possibly owed to little gross margins amid ongoing tariff costs.
Last year, the institution besides acquired Hailey Bieber's Rhode brand.
In the 4th quarter, e.l.f. reported better-than-expected net per stock of $0.65 versus $0.55 expected by Wall Street analysts. Net income jumped 38% to $489.5 million, topping estimates of $461 million, according to S&P Global Market Intelligence.
"Our worth proposition, powerhouse innovation and disruptive selling motor proceed to substance our brands," CEO Tarang Amin said successful a statement. "We stay assured successful our quality to turn marketplace stock and present best-in-class maturation successful beauty, arsenic reflected by our raised fiscal 2026 outlook."
Read much astir e.l.f.'s 4th from Reuters.
Arm Holdings shares autumn arsenic licensing income miss estimates
Arm Holdings shares autumn arsenic licensing income miss estimates.
From Reuters:
Read much here.
Broadcom jumps arsenic Alphabet raises its capex forecast
Broadcom (AVGO) banal roseate 5% earlier the doorbell connected Thursday pursuing Alphabet's (GOOG) superior expenditure plans, which surpassed analysts' expectations.
Google's genitor institution forecast 2026 superior expenditures of $180 billion, quality that is simply a imaginable boon to Broadcom, which partners with Alphabet connected customized chips.
“That is an unthinkable number. We are laughing due to the fact that that fig is truthful bully for the Google cohort,” Ben Reitzes, Melius Research caput of exertion research, told CNBC.
Google is not the lone institution expanding its capex walk to physique AI information centers: Oracle (ORCL) is doing the aforesaid and raised its forecast to astir $50 billion.
Google's AI bundle doesn't conscionable usage Nvidia (NVDA) chips, but it besides uses its ain tensor processing units (TPUs). For Gemini 3, Google utilized TPUs, which Broadcom helped to make.
Silver's abrupt 17% plunge wipes retired two-day betterment from rout
Bloomberg reports:
Silver (SI=F) fell sharply, wiping retired a two-day recovery, arsenic the achromatic metallic struggled to find a level pursuing a historical marketplace rout. Gold (GC=F) besides declined.
Spot metallic plunged arsenic overmuch arsenic 17% connected Thursday, having flickered concisely supra $90 an ounce successful aboriginal Asian trading. After a record-breaking rally that appeared to tally excessively far, excessively fast, the metallic has retreated by much than a 3rd from an all-time precocious deed connected Jan. 29.
“Sentiment seems to person turned soggy crossed astir plus classes, including determination equities and metals,” said Christopher Wong, a strategist astatine Oversea-Chinese Banking Corp. This has created “a feedback loop amid bladed marketplace liquidity,” helium said.
The abrupt and crisp diminution successful precious metals besides weighed connected sentiment successful basal metals markets, with copper falling much than 1% to gaffe beneath $13,000 a ton. Meanwhile, spot golden dropped arsenic overmuch arsenic 3.5% successful choppy trading.
COMEX - Delayed Quote USD
4,849.00 -101.80 (-2.06%)
As of 9:30:45 AM EST. Market Open.
Read much here.
Qualcomm banal dives arsenic representation spot shortage weighs connected fiscal outlook
Qualcomm (QCOM) banal fell astir 11% successful premarket trading connected Thursday aft the spot designer's results bushed connected the apical and bottommost lines but its forecast was lighter than expected. A representation spot shortage stemming from information halfway developers scooping up chips and chipmakers shifting accumulation to cater to AI request added unit to the company's outlook.
In the fiscal archetypal quarter, the institution said gross accrued 5% twelvemonth implicit twelvemonth to $12.3 billion, portion net per stock roseate to $2.78. Qualcomm bushed expert estimates connected the apical and bottommost lines, with statement estimates forecasting $12.1 cardinal successful gross and net per stock of $2.75, according to S&P Global Market Intelligence.
However, the outlook for the fiscal 2nd 4th dimmed arsenic a proviso crunch successful representation chips weighs connected margins and the smartphone market.
Second 4th gross is expected successful the scope of $10.2 cardinal to $11 cardinal (analysts were looking for $11 cardinal astatine the midpoint). Adjusted diluted net per stock are expected to beryllium successful the scope of $2.45 to $2.65 (the Street was hoping for $2.87).
"While our near-term handsets outlook is impacted by industry-wide representation proviso constraints, we are encouraged by end-consumer request for premium and precocious tier smartphones, and stay connected way to execute our fiscal 2029 gross goals,” Qualcomm CEO Cristiano Amon said successful the net release.
Computer makers statement turning to Chinese spot makers to combat proviso deficit
Reuters reports:
Read much here.
Gold returns to implicit $5,000 aft grounds fall
Bloomberg reports:
COMEX - Delayed Quote USD
4,849.00 -101.80 (-2.06%)
As of 9:30:45 AM EST. Market Open.
Read much here.
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