Market Update: US Stocks Rise Ahead of Key Economic Data
By: James Hyerczyk
Updated: Feb 10, 2026
Key Points
- Tech stocks rebound in premarket as investors extend a two-day rally.
- Shift in focus from old economy stocks back to undervalued tech stocks.
- Earnings reports from major companies and retail sales data influence market sentiment.
Market Overview
The major U.S. stock index futures are showing positive movement in mixed trade as investors look to build on a two-day rally. The focus has shifted from concerns over AI-related stocks to record index levels. As of 11:50 GMT, Dow Futures are up 0.05%, S&P 500 Futures are up 0.09%, and Nasdaq Futures are up 0.03%.
Tech Sector Recovery
Last week saw a rotation out of tech stocks into old economy stocks, which pushed the Dow Jones Industrial Average to a record high. However, recent trading indicates that tech stocks have become too cheap to ignore, prompting aggressive buying from investors. Concerns about AI replacing software and excessive spending had previously pressured tech stocks, but these fears appear to be receding.
The S&P 500 Index has shown resilience, bouncing back above the 50-day moving average, a key indicator for the "buy the dip" strategy that many investors have adopted.
Upcoming Catalysts
Today, Coca-Cola, Hasbro, and Spotify are set to report earnings, which are expected to shape market sentiment. Coca-Cola is particularly significant as it is a major component of both the Dow and S&P 500. Additionally, retail sales data will be released, providing insights into consumer spending ahead of critical reports on Non-Farm Payrolls and Consumer Price Index later in the week.
Technical Analysis
The E-mini S&P 500 Index futures are attempting to move away from the 50-day moving average support level. The key support levels are identified at 6931.75 to 6897.25, while potential upside targets are set at 7027.25 and the record high of 7043.00. The 50-day moving average remains crucial for sustaining the current uptrend, with traders showing confidence in buying dips rather than panicking during minor violations of this level.