Morning Preview: February 06, 2026
Market Overview
Futures are showing positive movement this morning, with the Dow up 236 points (0.48%), the S&P 500 up 42.25 points (0.63%), and the Nasdaq up 194.50 points (0.79%). This comes after a significant sell-off in technology stocks, particularly in the Nasdaq, which hit a two-month low. Investors have been selling off major tech names, with software companies experiencing the most significant declines, some down 15% in the first three days of February.
Key Events
Amazon (AMZN) reported mixed Q4 earnings, leading to an 8% drop in its stock. The company announced a capital expenditure (cap-ex) guidance of approximately $200 billion for 2026, significantly higher than the consensus estimate of $146 billion. This trend of increasing cap-ex is also seen in other tech giants like META and GOOGL.
In the cryptocurrency market, Bitcoin has seen a dramatic decline, dropping to around $63,000, which is a 50% decrease from its October 2026 highs. However, it has bounced back to over $66,000 after hitting a low of $60,008 overnight.
Global Market Performance
In Asian markets, the Nikkei Index rose by 435 points to 54,253, while the Shanghai Index fell by 10 points to 4,065, and the Hang Seng Index dropped by 325 points to 26,559. In Europe, the German DAX is up 145 points to 24,636, and the FTSE 100 has risen by 20 points to 10,330.
Market Closing Prices from Yesterday
- S&P 500: -84.32 points (-1.23%) to 6,798.40
- Dow Jones: -592.58 points (-1.20%) to 48,908.72
- Nasdaq Composite: -363.99 points (-1.59%) to 22,540.59
- Russell 2000: -46.89 points (-1.79%) to 2,577.66
Economic Calendar for Today
- 10:00 AM ET: University of Michigan Confidence, Prelim-Feb
- 10:00 AM ET: University of Michigan 1-yr and 5-yr inflation expectations, Prelim-Feb
- 1:00 PM ET: Baker Hughes Weekly rig count data
- 3:00 PM ET: Consumer Credit for December
Earnings Calendar
Several companies are set to report earnings before the market opens, including AER, AN, BIIB, CBOE, CG, CNC, EAF, GHM, IMVT, JOUT, MGY, MKTX, MPX, NVT, NWL, PAA, PIPR, PM, PRLB, PWP, ROIV, RXO, TM, UA, UAA, and VRTS.
Sector News Breakdown
Consumer Sector
Amazon's Q4 EPS was $1.95, slightly below estimates, with revenues of $213.4 billion. Coty withdrew its full-year forecast, while MGM Resorts reported strong Q4 results, beating expectations.
Energy, Industrials, and Materials
Bloom Energy Corp. reported strong Q4 results, while Flowserve's sales fell short of estimates. Werner Enterprises faced a significant decline in operating income.
Financials and Crypto
Affirm Holdings exceeded revenue expectations, while CleanSpark reported a significant loss due to falling Bitcoin prices. Digital Realty and Ventas also provided mixed earnings results.
Healthcare
Biogen's Q4 results surpassed expectations, while Molina Healthcare's shares plummeted after disappointing earnings.
Technology, Media & Telecom
Amtech Systems and Atlassian reported mixed results, with Atlassian showing strong customer growth. The semiconductor industry is projected to reach $1 trillion in revenue this year, driven by AI and chip demand.
Conclusion
The market is reacting to a mix of earnings reports and economic data, with a notable focus on technology and consumer sectors. Investors are cautiously optimistic as futures indicate a potential recovery from recent declines.