NextFin News - All figures as of the U.S. pre‑market on February 9, 2026. Markets are digesting delayed U.S. data, a Fed pause, and a wave of AI‑infrastructure spending announcements from Big Tech.
Pre‑Market Performance
- U.S. index futures — Nasdaq 100: 25,104.8 (−58.5, −0.23%); S&P 500: 6,946.3 (−6.5, −0.09%); Dow Jones: 50,180 (−25, −0.05%).
- Europe — FTSE 100: 10,354.13 (−0.15%; intraday 10,420–10,345); CAC 40: 8,276.32 (+0.03%; 8,313–8,259); DAX: 24,825.02 (+0.42%; 24,941–24,715).
- Commodities — Brent crude (Feb 6 close): $68.05/bbl (+0.74% d/d). Details WTI crude (Feb 6): $63.55/bbl (+0.41% d/d). Details Gold futures (Feb 6): $4,979.80/oz (+1.85% d/d) after a volatile week. Details
- FX — ICE U.S. Dollar Index (Feb 6 close): 97.63 (−0.20% d/d), hovering near recent lows. Details
Macroeconomic Policy and Data
Fed policy: At its January 28 meeting, the Federal Reserve left the federal funds rate unchanged at 3.50%–3.75%, pausing after three straight cuts in late‑2025 and signaling caution as inflation progress remains uneven. Report
Data calendar disruptions: Due to a partial federal shutdown, key releases were rescheduled: the January Employment Situation is now set for Wednesday, February 11 (8:30 a.m. ET), and January CPI and Real Earnings for Friday, February 13. BLS revised calendar
- Labor market setup: Consensus expects January nonfarm payrolls at roughly +80,000. FactSet Private‑sector proxy ADP showed +22,000 for January. Barron’s For context, December payrolls rose by 50,000 and unemployment edged down to 4.4%. Bloomberg
- Activity gauges: ISM Services PMI held at 53.8 in January (19th straight month of expansion), with Prices Index elevated (66.6) and Employment back above 50 (50.3). ISM
- Consumer sentiment: University of Michigan preliminary February sentiment rose to 57.3 (from 56.4 in January); 1‑yr inflation expectations eased to 3.5% while 5‑yr ticked up to 3.4%. WSJ InvestingLive
- Inflation trend: The latest official core PCE y/y was 2.8% in November 2025; next update is scheduled February 20. BEA
Market implications: A delayed jobs/CPI sequence concentrates event risk later this week; a softer labor print or cooler CPI could reinforce a patient Fed, while stickier prices and firm services inflation may keep cuts on hold. Oil near the low‑$60s and a soft dollar support the disinflation narrative, but services‑sector price pressure argues for caution.
Hot News
- OPEC+ extends curbs, outlines capacity review — The group kept >3 mb/d of curbs in place and approved a 2026 capacity‑assessment mechanism; earlier guidance mapped a gradual unwind of some voluntary cuts into late‑2026. Brief Details
- Big Tech’s AI capex spree intensifies — 2026 AI‑infrastructure investment by major platforms is tracking toward ~$660 billion, raising questions about funding mixes and future free‑cash‑flow trajectories. FT
- Dollar drift sustains commodities — The ICE U.S. Dollar Index closed Friday at 97.63, near multi‑month lows, a tailwind for gold and crude. Investing.com YCharts
U.S. Stock Focus
- Alphabet (GOOGL) — Alphabet guided 2026 capex to $175–$185 billion as it accelerates AI infrastructure; shares wobbled on the outsized spend despite strong Cloud momentum. Reuters Guardian
- Amazon (AMZN) — Amazon outlined a $200 billion 2026 capex plan spanning AI chips, robotics and satellites, sparking a 5%–9% share drop as investors reassessed near‑term returns versus spending scale. FT Live blog recap
- Microsoft (MSFT) — Despite solid results, a record AI capex run‑rate and slightly slower Azure growth triggered a sharp sell‑off and a multi‑session market‑cap drawdown as investors demanded clearer AI paybacks. Reuters Bloomberg
- Nvidia (NVDA) — Shares eased in pre‑market trading after last week’s rebound, with sentiment toggling between record AI capex tailwinds and concerns about spending sustainability; eyes turn to Feb 25 earnings and OpenAI‑related demand signals. Barron’s TheStreet
- AMD (AMD) — Q4 revenue $10.3B and EPS $1.53 topped estimates; Q1 sales guided to ~$9.8B on robust AI/datacenter demand, though shares fell on profit‑taking and supply‑chain worries (HBM). Reuters AMD 8‑K
- Eli Lilly (LLY) — GLP‑1 portfolio momentum continued: Q4 revenue rose 43% to ~$19.3B, with Mounjaro $7.4B and Zepbound $4.3B; 2026 revenue guided to $80–$83B amid pipeline catalysts (oral orforglipron). WSJ MarketWatch
- Boeing (BA) — The FAA maintained its cap on 737 MAX production expansion and flagged non‑compliance issues in recent audits, keeping focus on quality remediation and delivery cadence. FAA Reuters
- Tesla (TSLA) — Shares were marginally lower pre‑market after a late‑week bounce; investors look for tangible updates on robotaxi expansion and humanoid‑robot initiatives as EV competition intensifies globally. Barron’s Reuters
What to Watch Today
- Positioning into Wednesday’s delayed January jobs report (Feb 11) and Friday’s CPI (Feb 13); treasury and dollar reaction will be critical for risk appetite.
- Oil’s resilience near $65–$70 (Brent) as OPEC+ policy and demand signals evolve; implications for energy equities and inflation expectations.
- Follow‑through in mega‑cap tech after capex‑driven volatility; guidance language on AI monetization versus spend remains the key equity catalyst.
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