New York, Feb 2, 2026, 13:32 EST — Regular session.
- The Dow rose about 1% in midday trading, led by chip-linked and other heavyweight shares.
- A partial U.S. government shutdown has pushed back this week’s January jobs report.
- Traders are turning to a dense run of earnings over the next three sessions.
The Dow Jones Industrial Average climbed about 1% in midday trading on Monday, lifted by a bounce in chip and other heavyweight shares after a bruising slide in precious metals. At 12:09 p.m. ET, the Dow was up 490.04 points, or 1%, at 49,382.51; the S&P 500 added 45.73 points, or 0.66%, to 6,984.82 and the Nasdaq Composite gained 175.21 points, or 0.75%, to 23,637.02. “We’re heading into a new week with plenty of catalysts in front of us,” said Art Hogan of B. Riley Wealth, as Sandisk jumped 16%, Western Digital rose 7.8% and Seagate Technology gained 5.8%. (Reuters)
The move followed a scramble late last week when gold and silver plunged and forced investors to trim leveraged bets across markets. Traders are also weighing President Donald Trump’s nomination of Kevin Warsh to lead the Federal Reserve, and whether it points to a tougher line on inflation. “The key thing that seemed to turn sentiment today is a push back to focusing on fundamentals,” said Carol Schleif, chief market strategist at BMO Private Wealth. (Reuters)
The shutdown is already thinning the economic calendar: “The employment situation release for January 2026 will be rescheduled once government funding is restored,” said Emily Liddel of the U.S. Bureau of Labor Statistics. The agency’s schedule had the report due Friday, Feb. 6, at 8:30 a.m. ET. (Reuters)
Inside the Dow, gains in Caterpillar and Visa provided a large share of the lift, adding roughly 174 points between them, MarketWatch data showed. Because the Dow is price-weighted, a $1 move in a higher-priced component moves the index more than a $1 move in a lower-priced one. (MarketWatch)
But metals volatility remains a live wire, after CME Group raised margin requirements — the cash traders must post to hold futures — following the crash in gold and silver. “The decision by markets to sell precious metals alongside U.S. equities suggests investors view Warsh as more hawkish,” said Vivek Dhar at Commonwealth Bank of Australia. Hawkish, in Wall Street shorthand, usually means rates stay higher for longer, supporting the dollar and weighing on non-yielding bullion. (Reuters)
The Dow is a price-weighted index of 30 U.S. blue-chip companies, according to S&P Dow Jones Indices. That construction can magnify moves when a handful of higher-priced members swing sharply. (S&P Global)
The next test is earnings, with investors watching whether big spending on data centers and AI translates into profit. Advanced Micro Devices said it will report fiscal fourth-quarter and full-year results on Tuesday, Feb. 3, after the market close, with a conference call scheduled for 5 p.m. EST. (AMD)
Alphabet will hold its quarterly call on Wednesday, Feb. 4, at 4:30 p.m. ET. (Alphabet Investor Relations)
Amazon said it will discuss its fourth-quarter and full-year results on Feb. 5 at 5 p.m. ET. (Amazon News)
With the jobs report on hold, rate-sensitive sectors may take cues from private surveys and Treasury moves rather than fresh government data. Investors have also been quick to punish companies that miss expectations this season, keeping intraday swings sharp.
In New York, attention is also on Washington, where the U.S. House of Representatives is working on legislation to restore government funding and end the partial shutdown, with a vote expected Tuesday. A quick deal could bring delayed releases back into view as the week’s earnings arrive. (Reuters)
